In a recent blog, we talked about the importance of attaching services to sales, including five benefits to customers and 5 benefits for your company. If you already know the importance of selling services, we'd like to focus on a topic that's crucial to your sales success—renewals.

The key to winning in the services economy: managing service renewals

Managing Cisco renewal opportunities and the lifecycle of the services sale are paramount in today’s services economy.
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We frequently talk about the increasing role software plays in your customers’ digital transformation and the importance of growing your recurring revenue streams. (Here’s the most recent example.) Selling services and managing them are often two different experiences, however. Partners have traditionally faced many challenges when renewing services and software, including complex quoting processes, lengthy error resolution processes, long offline processing times and multiple platform interactions, just to name a few. The results are often a disjointed and complicated user experience. Cisco recently announced a new solution to these challenges: Cisco Commerce Workspace Renewals (CCW-R). CCW-R makes it easier for partners to order new and renewal services, software subscriptions and manage service contracts, and it’s fully integrated with Cisco Commerce.

The 4 initials that spell increased recurring revenue: CCW-R

Cisco Commerce Workspace Renewals (CCW-R) is replacing Cisco Service Contact Center (CSCC), and partner feedback is overwhelmingly positive.
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As 2017 is coming to a close and we turn our attention to the year ahead, here’s a tip for making 2018 bigger and more profitable than this year: Attach more services to your hardware sales. Among Ingram Micro Cisco partners, services account for 70% of reseller profits. Resellers also see a 13% increase in loyalty from customers who purchase services compared to those who don’t.

Attach Cisco services to gain higher product renewals

Cisco technical services add greater predictability and higher renewal rates to your sales and provide several benefits to your customers.
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Why gaining visibility into your contracts, install base and end-of-life services is a must-have, and why it’s easier with Cisco Smart Net Total Care (SNTC).

Proactively Support Your Cisco Network Device Install Base

Why gaining visibility into your contracts, install base and end-of-life services is a must-have, and why it’s easier with Cisco Smart Net Total Care (SNTC).
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Warranties are great protection for Cisco products, but they only cover a fraction of the issues users face.

Services over Warranties: What Makes a Cisco Service "Smart"

Why Cisco Services are a better choice for your customers than warranties that just protect against manufacturer defects.
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Customer loyalty and satisfaction are crucial for your business’ success . Happy customers are more likely to return for future business or to refer their  partners, freeing up your sales staff to pitch new clients.

Measuring loyalty is also a key success indicator. Are your customers returning more to you than your competitor’s customers are to them? Are your customers happy with the products and services you provide? If the answer is yes, your business is likely booming. If not , it may be time to rethink your approach.

Why Selling Cisco Services With Cisco Products Results in More Loyal End Users

Partners who bundle Cisco products with Cisco service see a 33-percent higher retention rate than those that don’t—and the reasons make sense.
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This infographic looks at the many difference between a warranty and selling a services practice.

Infographic: Warranties vs. Services Why You Should Be Selling Services

This infographic showcases the many differences between warranties and selling services to your clients, click here to view.
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Forrester estimates that Cisco Services give customers a 192 percent return on investment over a three-year period. That is a tremendous return for your customers when they invest in their businesses with a Cisco Services agreement.

4 Valued Business Outcomes Customers Can Achieve With Cisco Services

Four of the top key areas that your customers will get value for their investment in a services agreement.
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Cisco Services can account for up to 50 percent of partner revenue and 70 percent of its profitability. This is a result of the unique opportunity that selling Cisco Services presents to your business.

How Revenue is Impacted by the Role of Automation in the Services Renewal Process

How services renewal can be a huge revenue boost for your organization as you continue to be paid without having to sell them on a new product.
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Selling Cisco Services provides your business with a tremendous opportunity to increase revenue and customer loyalty. How much so? Let the numbers do the talking:

12 Essential Data Points for a Successful Service Annuity Practice

Data points that will help increase revenue and customer loyalty for a successful service annuity practice.
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Congratulations on selling your customer a Cisco Services agreement. Now the real work—and the real opportunity—truly begins.

Post Sale: Helping Customers Adopt and Realize the Potential of Their Services Agreement

If customers are not fully aware of the benefits of Cisco Services, there is value they could be leaving on the table.
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