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7 Habits Of Highly Effective Support Renewal Businesses

1. Easily Accessible Asset and Contract Data


A successful renewal business must have a system to track all customer’s IT assets and contract data in one location. Many partners struggle to keep up with their customer’s expiring support contracts with spreadsheets and other manual methods. This leads to missed opportunities, errors, and omissions in support coverage.


2. Data Accuracy


Your success depends on the integrity of your data. Entitling your customers’ assets and support contracts against the OEM/Distribution record, assures the most accurate data. The most effective support renewal businesses have automated the entitlement process.


3. Be Proactive, Not Reactive on Renewals


Timely notifications to your support renewal team of all equipment warranties and contracts expiring in the next 30/60/90 days, allows early engagement with customers in the renewal process. This increases your on-time renewals, conversion rates, and customer satisfaction. Also, this protects against competitive bids.


4. Quote Automation and Standardization


Implementing an automated quoting solution decreases time spent converting distribution or OEM files into customer facing quotes (cut and paste). This reduces errors and increases accuracy, freeing up time for support renewal teams to engage more directly with customers and close more support renewal business!


5. Create “Sticky” Customers


Providing your customers with a web access to their asset and contract data improves their IT management and support budgeting process. A true value-add that differentiates you from competitors and makes them more reliant on you.


6. Trojan Horse


Expand your wallet share within existing customers by helping them manage assets and contracts on the equipment purchased from you. Enabling your customers to manage their assets and contracts leads to additional assets and contracts, originally sold by your competitors.


7. Business Intelligence


Leverage historical asset and contract data to identify new sales opportunities to refresh EOSL equipment, take advantage of OEM promotions, and/or target specific industry types with new services offerings. Capitalize on these identified targets with automated sales out marketing campaigns to capture new sales and refresh opportunities.


A comprehensive contract and asset management solution can accomplish all of these for you. If you think it is time to take a closer look at how you might implement a highly effective support renewal business in 2018, contact us at info@servtrax.com.


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