The Service Sales Data Dilemma

What makes the service sales data challenge particularly difficult is that customer, service contract and product usage data is often stored across multiple sources including a CRM, ERP, product catalog, service catalog and POS transactional systems.

Some sales teams are even still using spreadsheets to store customer data. Nevertheless, what’s needed is a comprehensive data intelligence strategy – an initiative focused on aggregating, enriching and transforming this wealth of information into the service sales KPIs and metrics you need to identify approaching opportunities and optimize renewal and attach rates.

As you look to build a data science strategy to support service revenue growth and secure the ongoing metrics you need, make sure to include, at a minimum, these eight essential service sales KPIs on your service contract management dashboard.

1. Attach Rate

Measures the percentage of product that was sold with attached services or maintenance agreements.

2. Attach Value

Measures the dollar value of attached services.

3. Attach Opportunity Next 30 Days

Allows user to see attach opportunities in the next 30 days and can be grouped by region and sales rep.

4. Renewal Rate

Measures the percentage of service renewal opportunities that got sold. This can be displayed as a percentage of the total opportunities pursued and renewed versus not renewed. The user can drill down by a specific time range, country, region, product, or sales rep.

NEXT: Opportunities And Missed Opportunities