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Service as Your Revenue Engine

Convert your service business into a strategic profit driver.

Revenue
Leakage

Minimize revenue given away / left on the table through better visibility into accounting, entitlements, warranty expirations, and service contract renewals.

Revenue
Protection

Securing revenue relationships, reducing churn and boosting customer loyalty by efficiently delivering on service and customer obligations.

Revenue
Optimization

Visibility into the installed base allows for increasing service contract attach rate and your revenue footprint, converting service contract levels and sale of service parts throughout the lifecycle of the asset.

Revenue
Maximization

New revenue channels via competitive replacement opportunities, multi-vendor service opportunities, reviewing customer value data, and management of asset lifecycle events like supporting asset replacement and upgrades.

Service revenue and growth have never been more critical to the bottom line

Don’t let your organization fall behind.

As organizations face greater competition in equipment sales, they are looking to service for a spark in supporting their revenue and growth ambitions. Most organizations recognize service’s impact on customer satisfaction and the revenue protection that comes from the mitigation of customer churn. However, service can also add to the top line by eliminating areas of revenue leakage, uncovering new opportunities for contract and part sales, and contributing relevant information that creates revenue opportunities for new equipment or new services.

Learn More
Webinar
Flipping the Script: From Cost Centers to Profit Centers in Service

The traditional view of service as solely cost-incurring entities is undergoing a significant shift. More and more, businesses are recognizing the strategic potential of their service operations and are actively seeking to transform them into profit centers.
Blog Post
Upsell Leakage: Everything You Need to Know

Do you know what your maximum service revenue potential could be based on the product units your organization sells? Is your current service revenue less than this maximum? Do you have a process to upsell service contracts into your existing installed base? If you gave one or more puzzled looks while reading that, chances are you are suffering from upsell leakage.
BLOG POST
How to Stop Revenue Leakage in Your Service Business

Have you ever had to credit or discount an invoice? If the answer is yes, then you have leakage. If the answer is no, then you definitely have leakage.
BLOG POST
Mind the Gap: How to Improve Revenue Growth

At Maximize we discussed the topic of Enhancing the commercial maturity of your services business. In that conversation, we spoke about ‘the Gap’. The Gap between your current service revenue and the maximum revenue you could achieve when every unit sold would have an associated ‘gold’ contract. This Gap is rather simple to calculate, and it won’t surprise me if the size of the Gap becomes a compelling reason to act.
BLOG POST
How to Use Service Marketing to Grow Service Revenue

Over the last five to ten years, a growing number of Chief Service Officers (CSOs) have been assigned a service revenue growth target—a trend recently confirmed through research by Noventum, which found that more than 85% of product manufacturers have set a growth target for their service function. As this trend gains steam, we think it’s worth examining how CSOs can achieve service revenue growth and what they can learn from the sales side.