Define an adequate revenue and pricing model to monetise your advanced services
Whether your service revenue is around 10% of the total business or 70%, an adequate revenue and pricing model for your various advanced service...
The capability to generate demand is critical to monetising your (new) advanced services successfully.
This goes beyond good web pages, brochures, and salespeople.
It's all about guiding your (potential) clients through their buying journey, providing the right information and insights at the right time and developing their engagement.
Customers will only have interest in your company and services if they recognise how it will solve their problems and make their lives easier.
And here is the challenge: your clients may not recognise:
So why would they be interested in your services that solve the problems they are unaware of? And if your salespeople still try to sell it, why should they be willing to pay for it?
This is a vital challenge for many service providers, holding them back from monetising and growing their services.
Many service providers miss the required capabilities and capacity for service marketing.
Roughly, we can divide your customers' buying journey into 3 phases.
Becoming problem-aware
Becoming solution-aware
Becoming provider-aware
All phases are relevant for service marketing because:
An important objective of marketing is to capture (behavioural) information from your (potential) customers, such as:
A good way of doing this is to ask your (potential) customer for some information in a form, before providing the requested information.
With this information you can:
There are several ways to signal customers that should be ready to talk with (service) sales:
All these marketing activities will only fly if there is some level of dedication for service marketing.
Some companies have a (small) dedicated service marketing team.
Some have a few service champions in the overall marketing team.
I know: all good theory, but:
The upcoming Service Transformation Summit on How to Monetise Advanced Services is ideal for discussing this with your peers.
You will get:
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Whether your service revenue is around 10% of the total business or 70%, an adequate revenue and pricing model for your various advanced service...
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The ability to sell the value of your various advanced service offerings is vital to successfully monetising your (new) advanced services. As you...