4 Phases of Becoming LAER Efficient, Summarized

Posted by Thomas Lah on 4/10/18 5:00 AM

TSIA’s LAER model is a framework that breaks the supplier’s perspective of the traditional customer engagement journey into four distinct phases: Land, Adopt, Expand, and Renew. As more companies begin to make the pivot to managing annual recurring revenue streams, there’s an industry-wide increase in the creation of LAER initiatives in order to follow a customer engagement plan that works with a subscription-based business model. I recently wrote an upcoming paper for TSIA members called, “4 Phases of Becoming LAER Efficient” that aims to help them assess where they are in efforts to creating a customer engagement model that cost-effectively works with customers in each of the four phases of LAER. Here’s a quick look at those four phases that can help you start thinking about where your company is in this process and where you need to be.

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Topics: renewal, customer adoption, expand selling, LAER, TSIA Research, contract renewal

Renewal Specialist: Is It a Sales Role or a Service Role?

Posted by Julia Stegman on 3/1/18 5:00 AM

Renewal specialists are responsible for ensuring customers renew their relationship with a company. Historically, the renewal process began with the end in mind. It started from contract expiration, then backed up to define a customer contact cadence, allowing the customer enough time to renew prior to their contract expiration. However, there are new emerging practices. In this post, I’m going to be going over the responsibilities of the evolving role of renewal specialist and answer the question, “Is the renewal specialist a Sales role or Service role?”

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Topics: service revenue generation, renewal, contract renewal, Blending Service and Sales Motions

[SlideShare] 3 Reasons Why You Need a Chief Renewal Officer

Posted by Julia Stegman on 2/12/18 5:00 AM

Technology subscription revenues are becoming material for both pure-play cloud companies (representing 90% or more of their total company revenue) and hybrid companies (representing 10% or more of their total company revenue). Continuing to retain and grow this revenue requires a strong focus on renewal activities led by a chief renewal officer whose mission it is to expand customer spend throughout their contract period. In this SlideShare, we share the top 3 reasons why you need a chief renewal officer at your organization to take charge of this important revenue generating engine.

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Topics: service revenue generation, revenue growth, renewal, slideshare, recurring revenues, contract renewal

Using Customer Success to Renew More Contracts

Posted by Julia Stegman on 12/7/17 5:00 AM

TSIA believes customer success is a service capability with a sales result. We’ve already talked a lot about streamlining the adoption-focused capabilities of Customer Success, ensuring that you as a technology or equipment provider are engaging with your customers with prescriptive time, event, and value-based interactions along the journey. But now, I’d like to discuss the processes directly associated with sales results, specifically, the role that Customer Success can play with renewing subscription revenues. 

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Topics: customer success, service revenue generation, renewal, customer success manager, contract renewal

How to Make Your Renewals Frictionless [SlideShare]

Posted by Julia Stegman on 3/17/17 5:00 AM

If you want to make sure your customers renew their contracts, it’s crucial that you have a renewal process that’s as painless as possible. While roadblocks to renewal can and do crop up, knowing how to spot them ahead of time and adopting the right capabilities for frictionless renewal is your key to overcoming them. Check out this SlideShare to identify 3 common renewal friction points and the capabilities you'll need to keep your renewals moving forward as planned.

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Topics: service revenue generation, service revenue, renewal

5 Metrics to Measure Maintenance and Support Revenue Health

Posted by Julia Stegman on 12/1/16 5:00 AM

Service revenues continue to play a greater role in driving both top-line and bottom-line revenue growth in technology companies. For those who deploy their technology on a customer site, maintenance and support revenues represent a significant percentage of their service revenues. As a result, these companies are receiving increasing pressure from their C-level executives to grow maintenance and support revenues year over year, which adds to the expectations for sales and marketing leaders to make that growth happen.

However, before you can start down the path to growth, you should first assess the health of your existing maintenance and support revenues so that you can make the right investments, solve problem areas, and address any blind spots in your current reporting. Here is a list of 5 critical key performance indicators (KPIs) sales and marketing can use to measure the health of maintenance and support revenues.

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Topics: adoption services, support, renewal, customer adoption, expand selling, services revenue generation

[SlideShare] Measuring the Health of XaaS Subscription Renewals

Posted by Julia Stegman on 12/10/15 9:30 AM

When it comes to getting customers to renew their subscription with your XaaS offer, does your current renewal engagement model consist of managed handoffs between your internal teams, or is it total chaos? (Tweet this!) In the recent TSIA SRG Cloud Benchmark Study, we aimed to find out how top companies in the technology services industry are structuring their subscription renewal process, as well as get a detailed look at which metrics they’re using to track their success. 

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Topics: XaaS (x-as-a-service), service revenue generation, renewal, subscription-based offers, 12 Days of Insights, slideshare

[Infographic] Are You Optimizing Your Contract Renewal Potential?

Posted by Julia Stegman on 9/12/14 6:30 AM

When even just one point of improvement in your renewal rate can translate to millions of dollars, your customer retention rate can make a huge impact on your bottom line. But just how optimized is your current renewal process? TSIA analyzed the renewal maturity models from 35 global companies to gain insight into their maintenance and support contract revenues, and this infographic outlines their best practices.

Get an inside look at how the customer growth and retention strategies of these top companies drove their performance, such as optimizing the renewal of current service revenues and adopting a renewal model that includes expand selling. How do you measure up to the best practices of these pacesetting companies?

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Topics: service revenue generation, renewal, technology maturity, infographic

Assumption Reality Check―Testing Those “Gut Feels” and Learning New Ones

Posted by Jeremy DalleTezze on 11/5/13 12:23 PM

“Regardless of the specific examples, industries, and service context, we now have the opportunity to test our business assumptions with data analytics. Your decisions can be data informed in a precise manner that will yield competitive advantages in an increasingly competitive market.”

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Topics: customer satisfaction, data analytics, renewal, consumption analytics

TSW Best Practices 2013: Commentary from Julia Stegman, TSIA’s Service Revenue Generation Research Expert

Posted by Julia Stegman on 5/28/13 3:32 PM

TSW Best Practices 2013 took place earlier this month, with best practices in technology services as the main focus of the conference. The TSIA Research Team captured some great observations and key takeaways from this year's event, and wanted to provide our readers with their thoughts. In the final installment of this blog mini-series, Julia Stegman, TSIA's vice president of research, service revenue generation, will talk about her top observations from TSW.

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Topics: service revenue generation, service revenue, renewal, expand selling, Technology Services World Conference

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