Capturing More Service Revenue and Renewals

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The value of contractual services is recurring revenue, which is contingent on two things: 1) the continuous addition of new customers and 2) the retention of existing ones.

A third dimension of the recurring-revenue model is service expansion. Vendors and partners will recognize more revenue by getting customers to buy more services over time. But that won’t happen unless customers understand the value of their initial and ongoing investments. To hit that home, service providers must manage the customer experience.

In this primer, Channelnomics introduces CAPTURE, a framework that emphasizes the need for continuous customer engagement through feedback on service utilization, the activation of unrecognized benefits, and the correction of unmet expectations. ...