A recent poll in Security Sales and Integration Magazine posed the question “Please identify the Top 3 service-orientated areas to tap into to generate more recurring revenues.” Twelve different responses generated double digit percentages. Leading the way was “Maintenance/Service Agreements”. This comes as no surprise as it has been the answer to that question on every poll across all media and markets…forever. Almost every firm knows it can do a better job growing their service agreement base. Unfortunately far too many are content growing it incrementally, rather than make a commitment to change.
The follow up question in the survey was “What would be the main issues in implementing that action?” The number one answer wasn’t will or desire, expense, time commitment, or market opportunity; it was “Sales & Marketing”. As a person who has developed service marketing programs for over 200 firms this comes as no surprise. Far too many firms are unwilling to look for outside assistance or don’t know that resources are available to help. Based on my experience the most common reasons for not seeking outside assistance are:
- Don’t think an outsider will understand their business or market
- Consultants are probably expensive
- Don’t know there is someone who provides service marketing support
- Have been too busy running the business, making their numbers
- These are all valid reasons to procrastinate and continue the current path. None of them are acceptable when it comes to growing a firm’s most profitable business. It’s time to pick up the phone and get a fresh perspective on the business. It’s time to find out how other firms are growing their RMR far faster than you are. Whey recreate the wheel when someone has already done it?