The Chief Service Officer’s Guide to Service Revenue
The Chief Service Officer’s Guide to Service Revenue
Date: Wednesday, May 12th
Time: 12:00pm ET/9:00am PT/1600 UTC
As cost cuts in response to the overall economy have taken their course, organizations are now down to their core value generating resources, and are therefore looking to these resources to generate sustainable and predictable revenue streams to help support margin initiatives. At Aberdeen’s 2009 Chief Service Officer (CSO) Summit, 31% of polled CSO’s indicated service-led revenue generation as the top goal of their business in 2010. Given the intentions of these service leaders, perhaps the wise saying about the vanity of revenue requires an amendment to the extent of, “Revenue in isolation is vanity….”. Cost cutting in isolation is counterproductive, just as revenue generation without attention on margin is ineffective.
Aberdeen Group surveyed over 260 service organizations to distinguish Best-in-Class companies from Industry Average and Laggards. Those defined as Best-in-Class averaged the following:
•90% level of customer retention (between 2008 and 2009)
•85% contract renewal rate
•15% increase in total service revenue over the last 12 months
•10% increase in the service revenue from the existing customer base over the last 12 months
To achieve best-in-class performance, companies must:
•Increase visibility and insight into customer service history
•Increase sales and marketing support of service offerings
•Empower front-line agents to identify and capitalize on service revenue opportunities
•Increase overall contract coverage
Attend this information packed webinar to see how best-in-class organizations are driving service revenues and what you can do to build a sustainable service enterprise.
Featured Guest Speaker:
Summair Dutta, Senior Research Analyst, Service Management – Aberdeen Group
Sponsored by: Astea International & Motorola
