Service Sales Training
Let’s assume all service sales marketing programs begin with well thought out strategies and goals. We’ll also assume detailed plans have been developed to map out the tactics, tools, and resources required to launch the strategy, and meetings have been held to introduce and discuss the plan with all parties involved.
Most Life Safety companies know service is their most profitable business. The majority understand selling service agreements is the best way to capture this renewable, high margin revenue and build the value of their company. Many believe they are doing a great job growing this business. For almost all the only measuring stick is comparing results to previous years. Far too many continue doing the same things they’ve done year after year. For those that have adapted their business model, the results have been dramatic. For those that haven’t, the opportunity is there for the taking.
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Whether you call it a service contract, maintenance agreement, or other terminology the document you present to your prospect needs to look good. It also needs to contain easy to find information for all parties reviewing it.
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Having worked with over two hundred life safety firms I’ve developed classifications regarding their success growing service revenue. A special emphasis is given to renewable revenue – service contracts. I’ve listed the number of firms in parenthesis that fit into each category.
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I’ve interviewed, hired, or trained well over five thousand Service Sales Representatives. I’ve had the opportunity to work with people whose sales skills and results were at the top of the industries they served. I’ve I’ve been on thousands of sales calls mentoring new Service Sales people and worked with seasoned veterans pursuing major deals. Their personalities were wide ranging, but their skill sets were very similar. I’ve also worked with struggling Service Sales people who didn’t succeed and moved on to other careers. In short, I’ve probably been involved with more dedicated Service Sales people than anyone else on the planet over my long career.
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A poll posed the question “Please identify the Top 3 service-orientated areas to tap into to generate more recurring revenues.” Leading the way was “Maintenance/Service Agreements”.
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Placing a value on a firm that installs and services life safety systems isn’t an exact science. Having worked with both buyers and sellers of fire alarm, sprinkler, and security firms the valuation gap between the two is often wide.
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All building systems are not created equal. Too often building systems are grouped together by function or application. A good example is life safety systems. These systems include fire alarm, security, sprinkler, suppression, nurse call, sound, etc. All of these systems have life safety implications, but their service requirements are quite different. Fire Alarm, sprinkler, and suppression systems are passive systems. Unlike interactive systems like card access, CCTV, HVAC, or elevators, no one is interacting with them on a daily basis. Typically the building operator is made aware for the need for service when interactive systems fail. These failures are typically brought to the attention of the building operator quickly, often by multiple parties. This is not the case with passive systems.
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There would be less need for Service Sales Representatives if all products and systems were sold directly to end users. In many cases the initial sale is made to an installer, contractor, purchasing department, or government agency. It’s very likely the end user who will make the decision regarding the service agreement, was not involved with the initial purchase. When it comes to older systems the end user may be many years removed from the initial sale. Often the service firm’s internal records regarding the sale don’t help in locating the current decision maker. The project may be listed under the name of the installer or contractor, or just the address of the facility.
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I was part of a panel discussion regarding how to grow service at a life safety industry trade show. Many of the firms attending were planning to expand their brand by adding an additional product line. Some of the mentioned additions included fire alarm, sprinkler, sound, security, etc. The primary justification for adapting their business model is the lucrative service, RMR, available for this type of equipment once installed. Most agreed that service was the goal as profit margins, on the installation of these systems, wasn’t very attractive. Additionally, a significant investment would be required in design and engineering skills and a fairly steep learning curve. Everyone seemed to agree that it was worth the effort and risk.
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Perfect for all personnel involved in service sales, this book describes the keys to success for selling service on technology-based products and systems. Anyone indirectly involved in service sales such as technicians, engineers, administrative assistants and others who work with customers will also find the book beneficial.
Readers will learn the unique skills and methodology required to be successful from the industry expert.
