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.
Continue ReadingLife Safety Service Agreements – Eye Candy – Not to be Overlooked.
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.
Continue ReadingGrowing Fire Alarm & Sprinkler RMR – Don’t Delay, A Competitor Just Stole Your Customer
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”.
Continue ReadingService Revenue Without Installation Overhead
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.