by Sam Klaidman | Jul 21, 2014 | Growth
Service contract selling compared to selling products Let’s start by agreeing that the price and volume of your product sales are always high relative to your service contract sales. This is because service contracts are only sold to product users. And annual...
by Sam Klaidman | Jul 14, 2014 | Growth
In my post last week, I said that the #1 reason that customer service contract revenue is declining if “Your value proposition no longer works for your customers.” Then I had a vigorous discussion with Ravi Deva in the LinkedIn Warranty Innovations Group. Here...
by Sam Klaidman | Jul 7, 2014 | Growth
In my experience, for B2B, high tech businesses that have been selling contracts for a number of years, the typical service contract renewal rate is about 90%. This means that every year, 10% of your contracts are not renewed. Think about what this 10% means to your...
by Sam Klaidman | Jun 16, 2014 | Growth
Corporate culture describes and governs the ways a company’s employees think, feel, and act. Sometimes the culture makes the business customer-centric (e.g., Zappos and Disney), and sometimes it focuses on employee compensation (think AIG during the Great...
by Sam Klaidman | Jun 2, 2014 | Growth
Introduction After writing over 90 posts about service revenue and customer retention, it is time to show why these subjects matter. I will tell this story using publicly available data of service revenue as a percent of sales for the company. This data is from a...
by Sam Klaidman | May 26, 2014 | Growth
Remember the old expression, “You only get one chance to make a first impression”? Well, it is still valid with both employees and customers. While the steps to successful on-boarding are different for each, the success of this process is critical to forming...