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STAR Awards 2020
For nearly a decade, TSIA has been helping our member companies optimize their go-to-market strategy and engagement models for growing recurring revenue. Every year, we have the privilege of presenting STAR Awards to a handful of these companies who have achieved remarkable success in making this transition. This year, we were able to recognize three companies for their success in the areas of revenue transformation and optimization: Avaya, HP, Inc., and Google Cloud.
HP, Inc. is an established player in nearly every facet of enterprise technology looking to stay in front of the market. Avaya has been focused on telephony and unified communications for years, but is now joining the stampede of companies making the transition to selling technology-as-a-service (XaaS) offerings on a subscription basis, and those transitions are never easy. And on the flip side, Google Cloud comes from a place of dominance in the consumer and small business market, but has realized that new offers and processes are needed to succeed in the enterprise space.
All in all, these companies have shown that transformation requires changes in not just the capabilities your company invests in, but also the culture needed to support these changes. TSIA is proud to recognize these three companies for their outstanding achievements.
Avaya was the first winner of the inaugural STAR Award for Innovation in Migration to Selling Subscription Offers. In 2019, they launched a software subscription offer for all their mainstream Unified Communications (UC) and Contact Center (CC) products.
TSIA has seen time and time again how difficult this process of migration and transformation can be, and we recognize and congratulate Avaya for their courage and skill in navigating the first part of their journey.
Avaya focused on changes to culture, compensation, and business practices that encouraged both their direct sellers and the channel community to focus on migrating existing customers and landing new customers on the subscription offer. For any company with such a strong legacy in on-premise hardware and software solutions, this is not an easy journey to take.
Avaya has seen an immediate and significant business impact; in the first two quarters since launch, the Avaya software subscription offer has become one the fastest growing portions of their business.
Read Avaya’s STAR Award application.
In the first two quarters since launch, the Avaya software subscription offer has become one the fastest growing portions of their business.
HP, Inc. was the winner in the Innovation in Expand Selling category, focusing on new and exciting ways to efficiently grow revenue from existing customers. They began with a focus on delivering not just products, but definable and desired business outcomes for their customers. They also realized that the best way to do this was to emphasize the services that helped customers reach those outcomes.
To do so, they leveraged data-driven insights and both human and Artificial Intelligence. A “Digital SME” provides real time feedback, custom insights, and services guidance to sales, in addition to providing advance notice when warranty renewals are approaching.
In conjunction with that motion, HP, Inc. invested in formalizing a global value management practice, made up of expert consultants, outcome engineers and regional champions. This team then leveraged data, AI, and their own knowledge to help quantify the value that customers had already received from their HP investments, and showed them how they could leverage their purchases even more effectively, as well making sure their customers were healthy and thriving.
The results were an 81% increase in expand selling revenue, and an astounding 91% win rate on expansion opportunities within existing accounts.
Read HP. Inc.’s STAR Award application.
81% increase in expand selling revenue, and an astounding 91% win rate on expansion opportunities within existing accounts.
Growing recurring revenue takes a coordinated approach throughout the product and customer lifecycle, from offer development, to selling the offer initially, then renewing those offers. Google Cloud established a dedicated Service Launch & Operations team that mapped enterprise customer segmented value requirements against sales, adoption, and renewal capabilities internally, hitting a homerun with its customers and internal functions.
The Google Cloud team built and launched an incredibly successful premium service offer that has significantly contributed to revenue growth. Sales proposed these premium services early in the sales cycle to promote acceleration to value that the customers demanded.
These offer process innovations resulted in a 20% savings in Sales' time, a 30% improvement in time to onboard customers, and an impressive 85% growth in premium service uptake from customers. Customers have provided very high satisfaction feedback, and proactive requests for premium offers attest to its perceived value and impact. This success shows how all the parts of TSIA’s LAER (Land, Adopt, Expand, Renew) work together to drive revenue growth.
Read Google Cloud’s STAR Awards application.
20% savings in Sales' time, a 30% improvement in time to onboard customers, and an impressive 85% growth in premium service uptake from customers.
Winning a STAR Award shows a company’s exceptional dedication to being the best in the technology and services industry. Check out all of this year’s winners and finalists in each category. You’ll also be able to read their STAR Award applications.
Post Date: September 2, 2020
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Steve Frost is the vice president and managing director of revenue research and advisory for TSIA. He also serves TSIA’s vice president of expand selling and subscription sales research. Throughout his career, he has held various leadership and business development roles at companies like Google, Netscape, and Loudcloud, helping them define their go-to-market strategy and business development tactics. Steve is dedicated to helping technology organizations grow their services, subscription, and XaaS revenue by optimizing their practices for growth throughout the customer lifecycle.
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The Technology & Services Industry Association (TSIA) is dedicated to helping technology and services organizations large and small grow and advance in the technology industry. Find out how you can achieve success, too. Call us at (858) 674-5491 or we can call you.