2015 Recurring Revenue Summit Review

Recurring Revenue Summit 2015

This year, I had the privilege of hosting my first ServiceSource Recurring Revenue Summit. It was a gathering of like-minded people from a cross-section of industries focused on solving the issues around customer retention and revenue growth. It was refreshing to see business partners, and even competitors, come together to discuss solving a common business concern.

The exchange of strategies and best practices around topics that help drive business growth was fueled by several common themes: revenue lifecycle management, moving to the Cloud, building Customer Success organizations. Companies with different business practices in every vertical are experiencing dramatic changes driven by rapidly changing business models, increased customer empowerment and greater competition.

By the end of the two days, companies came away with new strategies to retain and grow revenue from existing customers. Here are a few of my observations from the 2015 Recurring Revenue Summit that I think every business needs to have top of mind:

  • You need to look at the customer lifecycle holistically through the lenses of technology, people, process, data and KPIs to mature post sales business outcomes.
  • Each company is different and needs to develop a unique approach to realize continuous improvement in the customer lifecycle.
  • Building a customer success plan and organization are critical components of competing in today’s business climate.
  • To remain competitive every business must have a plan focused on retaining customers and growing revenue after the initial sale.
  • "Excellent blend of presenters
    and content.
    The agenda was meaningful,
    contemporary and the overall Summit
    timeline was just right."
    John Henderson
    Gerber Scientific

    Of course, the Summit wasn’t all business. We had the opportunity to play the world-class Ocean Course at The Ritz-Carlton, Half Moon Bay resort. And, for those that don’t take golf as seriously, they had a chance to test their skills at our Drives, Divots and Drinks competition. Suffice it to say that more than a few drives didn’t make the fairway, almost every chip found the water hazard, and three putts were the norm. But, most importantly, there were a lot of laughs and camaraderie enjoyed by everyone.

    From my perspective, the 2015 Recurring Revenue Summit was truly a melding of thoughts, ideas and best practices for growing recurring revenue in the throes of changing market dynamics. And, we had some fun and friendly completion as well. I’m already looking forward to the 2016 Recurring Revenue Summit.

    Visit the summit website to view the presentations and video recordings of sessions from the 2015 Recurring Revenue Summit and send me your thoughts at teamsummit@servicesource.com.

    Authored by Gregory Hopkins
    Gregory Hopkins is the Chief Customer Officer of ServiceSource, where he spearheads all global sales, marketing and customer-facing initiatives, with an emphasis on customer acquisition, retention and customer lifetime value. Greg brings over 25 years of experience in the technology industry where he has overseen go-to-market for multi-billion dollar companies and maintained the client bases for Fortune 100 companies. Outside of work, you can find Greg spending time with his wife and kids, working on his golf game, and enjoying all types of sports.