Want More Recurring Revenue? Have More Meaningful Conversations

"When we come in, we have to be more expensive," Studley said. "Every once in a while, we'll run into a competitor that's priced the right way, so I'll increase my price."

One solution provider, Stratus IT Group, of Salt Lake City, has excelled at executing on leads and enjoys a high close ratio, but lacks a defined lead-generation plan, according to Craig Vickers, the company's owner, who attended the session. Stratus' primary lead source today is referrals, but Vickers wants to be more intentional going forward and is considering hiring dedicated cold callers.

"We're not feeding the funnel like they are," Vickers said.