by Sam Klaidman | Jan 7, 2019 | Growth
“AN OUNCE OF PREVENTION IS WORTH A POUND OF CURE” When Ben Franklin first uttered these words, he referred to fire safety and prevention. Today, these words are equally applicable to machine maintenance and uptime. If true, why isn’t Predictive...
by Sam Klaidman | Nov 29, 2018 | Growth
A high-level B2B OEM Growth Strategy When aiming to grow a business, there are only four paths to follow when crafting an OEM growth strategy.: More current products to current customers New products to current customers Current products to new customers New products...
by Sam Klaidman | Nov 26, 2018 | Customer Value Creation
Thinking about making it easy to do business with you As service executives, we rarely consider making it easy to do business with us. Instead, we spend lots of time thinking about what we can do to grow our business. We think about improving customer satisfaction,...
by Sam Klaidman | Nov 2, 2018 | Growth
On October 30, 2018, Reuters published an article about Long-term Service Agreement Revenue titled “General Electric reveals deeper regulatory probe, restructuring.” In the section titled INVESTIGATION DEEPENS, the article reported: GE has said it learned...
by Sam Klaidman | Oct 29, 2018 | Growth
Introduction A corporate executive must understand why customers buy products and related services. Most capital equipment manufacturers have learned that equipment margin contributions are crucial, but aftermarket services margin contributions are at least twice as...
by Sam Klaidman | Oct 8, 2018 | Growth
New standards limit the “smoothing” of revenue and income in long-term service contracts By Sam Klaidman and Ron Giuntini. This post originally appeared on Si2 Service in Industry Hub INTRODUCTION For many years, revenue recognition financial accounting...
by Sam Klaidman | Sep 24, 2018 | Customer Value Creation
Customers only purchase products and services for one reason — to achieve their desired business outcomes (results). Whether we are talking about products or services, large or small, capital or expense, doesn’t matter. As long as they are spending money,...
by Sam Klaidman | Aug 9, 2018 | Growth
Collecting and using customer data is the first step in creating products and services that drive improving customers’ desired outcomes. And this is the prerequisite to growing shareholder value. How do we know that data is so important? Deming was a globally...
by Sam Klaidman | Jul 16, 2018 | Customer Loyalty
Failing to delegate decisions to your team will kill you, your team, or your business. All these outcomes are terrible! We need to discuss your trust and self-confidence to ensure none of these outcomes occur. Let’s take trust first. Trust You may not...
by Sam Klaidman | Jun 15, 2018 | Customer Loyalty
Introduction Warranty expense reduction is probably not part of your job description. But it should be. Here are the top three reasons why service and support executives should own warranty expense reduction. Remember, you are the customer advocate. And warranty...
