Despite the fact that the economy is less desirable on most fronts, few areas where sales continue to rise. Companies report on long-term earnings in extended warranty, service contracts, and software updates. These added products are able to generate the revenue you need and the ability to recycle your company.
The secret of long-term success is to help your client run the app or program smoothly by selling upgrades that provide continuous revenue. Improving service renewal fees means tracking how people are using the product and making sure that they continue to meet the needs of their customers.
According to estimates from the Service Contract Industry Council, consumers spend more than $ 8 billion this year on extended warranty products such as computers, other electronic items, and devices. Increasing tax rates not only provide instant cash inflows to your company, but if these maintenance is handled properly, repetitive business can turn your customers back to reputable customers that become the backbone of any trusted business
. The case is similar to service maintenance agreements with new software programs. These bids are becoming more popular as companies continue to look for cost reduction because of the tight economy. Often, in addition to options that include technical support, maintenance, and full warranty coverage, you must be licensed to use your software or application.
Use the maintenance contract manager to maximize your renewal rate. The additional costs of the maintenance contract manager are quickly justified by the additional revenue generated by the company due to the alignment of hardware and software systems. Managed Maintenance, Inc. (MMI) specializes in maintenance contract management and reported a 150% increase in new revenue. MMI offers tools to help you manage your entire lifecycle maintenance and maintenance lifecycle on the portal with ONEview. ONEview helps you track maintenance updates and expiration dates and help you find the best ways for customers to reach service contracts and increase their earnings through renewed sales
. The service contract management system ensures that you know in advance that the contracts will expire and prevent you from being eliminated by a competitor. Your contact database is vital and serves as a valuable sales tool. This information can identify customers who use older versions of the product and offer a single sales opportunity.