In this issue, we explore recurring revenue models and how a subscription-based service plan will help you win more referrals and provide future sales opportunities.
Customers are happier and give more referrals when their system is well-managed and they have realistic expectations for the maintenance of that system. Customers who are frustrated by unexpected service and maintenance can damage your reputation.
Ongoing service department interactions provide opportunities for deeper customer relationships and ultimately future sales. When managed efficiently, post-install services can turn a significant profit and boost your reputation.
Charging for one-off service is usually an uphill battle. When a customer agrees to a recurring monthly charge for remote managed services and forecasted labor, you have a mutual agreement that your services are valuable and you get to offset some of your costs that would typically only be billable during a service call.
A recurring monthly revenue (RMR) model makes it easier to build and manage your budget by enabling you to easily forecast future revenue. Using a recurring revenue model for expected maintenance can reduce administrative costs by minimizing time spent reviewing time sheets and calculating hours spent per client.
Adopting a business model that ties service contracts to all your projects is essential for business growth. Having customers subscribe to a service plan helps to set the expectation that maintenance is an inherent aspect when investing in technology. Regular communication about the status of their system and the services you provide create opportunities to build trust and strengthen the relationship.
A remote monitoring and management (RMM) platform, like OvrC, enables you to deliver a reliable customer experience while reducing truck rolls. With programming and automation, many issues are resolved before the customer knows there was a problem. This makes it the ideal base tier for a service plan because you can generate recurring monthly revenue while maintaining low overhead and manage your service department efficiently by reserving time and energy for issues that cannot be resolved remotely.
Hear from integrators who have grown their business by developing service plans around remote management and monitoring. Get resources to help you scale your business and develop a subscription-based service plan. You'll also hear from Snap One product leaders about how our products are developed with business growth in mind.>
Haven Smart was able to sign a huge job for a hockey stadium because they were the only integrator who offered remote monitoring and management as a service. Listen to the interview to learn more.
"Churn and burn integrators who don’t offer services post-install are leaving money on the table. We’ve turned service into a profit center and OvrC has been transformative for us."
Victor started offering remote managed services in order to make warranty periods less expensive for his service department and customers loved it so much they were happy to pay. Listen to the interview to learn more.
"OvrC is saving us time and money. We offer a one-year warranty on all products we install—a worry-free guarantee. OvrC helped us reduce service costs during this first year. And when we charge for service, we’ve found that using OvrC has made us really effective, to the point that customers are happy to be paying us.”
"Nine Steps to Earning Recurring Revenue and Winning More Referrals" is a step-by-step guide developed by two industry veterans with a combined 40+ years of experience. Read more >
See examples of pricing and service tiers from integrators around the U.S. and use it to determine what kind of services you'd like to offer customers. Read more >
Help teach your sales team how to introduce the value and need for subscription service contracts. Read more >
Use these Tech Community resources to help you get started with OvrC. Read more >
Even if you think your technicians are already OvrC experts, have them check out this new KB article, "OvrC Best Practices You Need to Know." Read more >
Hear from experts as we discuss challenges and explore the specifics of implementing subscription-based service plans to earn recurring revenue, win more referrals, and manage your team more efficiently. Watch or listen >