Recapturing Predictable, Profitable Maintenance Revenue Streams
The company had another problem: they simply did not have accurate information about their own customers. In fact, they didn’t even know who had maintenance agreements in place – a fairly common problem for large technology companies. The company knew that they could recapture a significant amount of revenue if they could identify and speak to those companies through strategic marketing outreach. And they knew they could rely on long-time partner BAO to help them achieve this goal.
Like many technology companies, this global security software vendor relies on maintenance renewals for a predictable, profitable revenue stream. And when it comes to one of their secondary product lines, the company has a core community of loyal customers who automatically renew maintenance on an annual basis. But with a field sales team focused on other vertical and product campaigns, driving renewals throughout the rest of the customer base was a challenge due to the sheer volume of companies.
Having worked with BAO for many years, the Client was familiar with its capabilities and how BAO services align with sales and marketing goals. They knew that BAO could quickly and successfully execute targeted, telephone-based outreach aimed at increasing the company’s predictable revenue stream from maintenance renewals.
The Client provided BAO with an initial list of customers who they believed had previously purchased maintenance but who had not renewed their contracts. The Client also developed a special promotion designed to woo back this audience, which was timed to coincide with an important launch of a new product version, so the promotion offered substantial value and savings to the lapsed customers. By engaging with these customers, BAO was able to drive a significant number of prospects into the sales cycle and uncover valuable intelligence for the sales and product marketing teams.
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