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Turning Services Into Gold

While product revenue and channel expansion will be always important, companies often neglect services -- a proven source 
of renewable revenue with margins that typically exceed those of products. This revenue is high quality, recurring 
and profitable, plus it’s easily accessible because it is your own customer base. A combination of the right type 
of support services and proper processes to obtain service contracts will transform your service business from 
a cost center into a profit center, creating a strategic revenue generation engine.

Services play a key role in achieving customer satisfaction and loyalty because they are a source of constant interaction 
with customers.  As a result, a well managed services business helps to ensure a high level of account control, and 
provides valuable input on future product directions.  Increasing product complexity and operating environments have 
made services – software upgrades, technical support, training and maintenance -- a vital link to customer satisfaction 
and retention.

Customers realize that such services are critical to getting the maximum benefit from the products they use.  
Furthermore, customers clearly recognize that product failures translate into lost productivity and missed 
revenue opportunities.

CRMI’s Turning Services Into GoldSM (TSIG) covers topics such as:

   Creating and/or identifying high-margin support services
   Achieving service profitability
   The role of services in customer loyalty and retention
   Defining a total cost of ownership (TCO) model

Click on Contact Us to request more information on CRMI’s TSIG program, or click on Events to see a schedule of TSIG seminars.


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Customer Relationship Management Institute, 300 Concord Road, Suite 330; Billerica, MA 01821-3476. Tel: (978) 715-2915. Fax: (978) 663-2929. E-mail: info@crmirewards.com Copyright ©2008 Customer Relationship Management Institute