Generating a recurring revenue stream with customers is critical business objectives facing Durable Equipment Manufactures today. The key: building a forever transaction with every customer you have.
Connected Customer Experience
Mize recently conducted a study among service executives and warranty professionals who are involved in marketing and selling service contracts and extended warranty (SC/EW) programs. The findings validate which strategies and tactics offer the best results.
Aly Pinder, Program Director for Service Innovation & Connected Products at IDC, discusses how knowledge transfer can be seamless across service organizations.
Optimize Your Service Contract Operations: Increase Your Service Contract Revenue
A statistic to overcome: Companies realize less than 15% of potential service contract revenue.
Overall, unachieved revenue results from businesses not offering service programs beyond standard product warranties. Even when service programs are offered, the attach rates remain low as some retailers and channel partners may not focus on service sales, or customers fail to understand the value of these programs.
This month's webinar, hosted by Mize, Inc., highlighted the top priorities for manufacturers and services organizations driving investments around service innovation. Improving the customer experience, growing revenue, and innovation through knowledge management figured prominently.
Our presenters, including Aly Pinder, Program Director for Service Innovation & Connected Products at IDC, Stuart Ransom, Chief Revenue Officer of Mize and Michael Blumberg, Chief Marketing Officer of Mize, led the discussion of how end-to-end service excellence enables the framework to meet the challenges faced today and in the future.