Benchmarking Contract Renewal Performance
The renewal rate is one of four key metrics that indicate the effectiveness of support and maintenance renewal activities. By monitoring these performance metrics, it is possible to accurately...
View ArticleStemming Maintenance Revenue Attrition
Over time, the implication of achieving only industry-average renewal rates will result in significant customer attrition and lost revenue. Industry-average renewal rates show that nearly one-fifth of...
View ArticleThe Shift from Customer Acquisition to Retention
Over the past several years, the primary source of revenue for information technology vendors has steadily shifted from products to services. This does not signal the demise of the high technology...
View ArticleAccurately Measuring Contract Renewal Rates
There are two primary methods used within the technology services industry to calculate contract renewals: The first method counts how many contracts are renewed in a given time period. The second...
View ArticleHow Customer Preconceptions Affect Maintenance Contract Sales
A lack of perceived value doesn’t necessarily mean customers won’t purchase a support contract, but your sales team better be ready to offer evidence to justify an investment All the time, effort and...
View ArticleDefining Your Optimal Renewal Rate
Industry average renewal rates exceed 80% for many technology industry segments. While benchmarks provide a general sense for performance levels they do not tell you what the optimal rate is for your...
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