In today’s market, businesses are looking to do more with less. And although IT hardware and software maintenance still retains much of its profitability, companies are still looking for better, smarter ways to build this crucial annuity pipeline. So how can you more efficiently tackle your renewals, without compromising customer satisfaction or potential revenue? Below are 3 reasons to automate maintenance renewals:
1) Increase revenue and increase customer satisfaction
Because automation allows you to touch more of your customers, it is assumed that you will increase your bottom line. However you may be surprised at where those increases will come from. Not all maintenance renewal notifications lead to increased maintenance revenue. Many resellers see increase in net new hardware and software sales due to the notification of machines coming off warranty. Also, end user customers see increased value from resellers who have invested in automation, which leads to increased customer satisfaction.
2) Connecting with more of your account base
Most companies fall victim to the 80-20 rule. Because 80% of your business is driven by 20% of your top customers, many resellers lose site of the revenue connected to the majority of their account base. Also with reduced headcount and less feet on the street, how do you free up your sales teams to work on the higher profile accounts and strategic opportunities. Automating your maintenance renewals allows you to easily touch and market to 100% of your account base. This in turn increases revenue without increasing your effort or headcount. Many software solutions today allow for customization of the messaging associated with automated renewal notices.
3) Free up your administrative staff to focus on strategic opportunities
Not only does automation help reach more of your customers, it takes time off the plate of your valuable resources back at home base. Your administrative and inside sales staff may be spending too much time researching and quoting small renewals and not focusing on driving the strategic deals that your sales teams are working on. This constant churn can cause your inside teams additional stress and wasted cycles.Automation decreases cost.
When looking at ways to bring increased visibility to your organization, increase customer satisfaction, increase revenue and decreased cost of sales, remember to think outside the box and look at ways to automate some of your key functions.