All in Thinking

Driving Services Revenues in the New Normal (2021)

All in thinking is the key for building your services revenues in 2021. COVID19 challenges have impacted the global economy and created an uneven range of winners and losers. Clients in health and food sectors have boomed, while clients in aviation and print related fields have been significantly challenged.

Regardless, all of our clients are pushing hard into Services Marketing with the objective to maximize revenue from their installed base.

Our counsel and drive is to ensure that the entire company has an “all in thinking”. Unlocking the power of your customer facing service teams to promote – not sell – upgrades, remote connections, training, extensions, automation etc., is the foundation. Getting everyone to look left and right for service opportunities, to be what we call a level 3 or 4 Services Promotor. To be the customer’s trusted advisor where their recommendations are taken without question.

Also interesting is the request from most of our clients to create or expand their focused Services Sales teams.

Finding a great Services Salesperson is a challenging endeavour for all organizations. A prerequisite strong technical background means most services salespeople come from a Field Service background. This background has a “helping” culture, but the role requires a proficient commercial – “ask for the PO” thinking. This is a natural conflict. Creating this team requires careful and consistent development.

Finally, the critical 3rd leg. Ensuring your “heavy metal” equipment sales team sell Service products (not give them away). Ensuring that when approaching existing clients, who are looking to extend a machine or invest in a new line, they adopt an equipment + + + + thinking, rather than the traditional machine and price approach. This means approaching these existing customers with an investment proposal that includes the new equipment + + + + upgrades, extensions, back-to-basic training programs, Preventative Maintenance Agreements, etc., for the existing, older lines. Then brand this all-encompassing investment proposal with a business focussed title, such as a “Productivity Improvement Program”. The key here is that it is + + + + and not minus, minus, minus where the Services are given away against the equipment margin.

So, what is your strategy to maximize the revenue opportunities from your installed base?

Do you have everyone on board – is everyone all in?

And, do you have an integrated development program that focusses on getting everyone “on-board” with your services marketing strategy?