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...
by Sam Klaidman | Jun 5, 2018 | Growth
Congratulations on Joining the Ranks of Service Leadership A significant step is getting promoted from Regional or National Field Service Manager to Director or Vice President of Field (or Customer) Service. Suppose you are fortunate to have recently made this...
by Sam Klaidman | Apr 30, 2018 | Growth
It is the end of April and we are 1/3 of the way through calendar 2018. By now your CFO is relatively certain of two things: Will the business finish out the year by achieving the annual budget? Will the service business finish out the year by achieving the annual...
by Sam Klaidman | Apr 19, 2018 | Growth
Introduction Almost one-year ago I wrote another post about attaching service contracts to new product sales. However, that post came at the subject from a different perspective. Reading both posts together will provide a more complete picture of the challenges of...
by Sam Klaidman | Mar 20, 2018 | Growth
Background A few years ago, I wrote a post about innovation at GE Healthcare. I wrote about how a design engineer was on site when a new MRI system was being installed in a pediatric area of a hospital. The engineer saw how scared the very young patients felt about...
