Corporate financial performance depends on Services to nurture, retain, and grow customer relationship value. Companies are taking steps to modernize services and shift them to proactive, success-focused growth engines.
Being successful with Services is a company-wide strategic imperative.
Corporate financial performance depends on Services to nurture, retain, and grow customer relationship value. Companies are taking steps to modernize services and shift them to proactive, success-focused growth engines
It makes good business sense – consider the following:
- For many technology companies over 74% of revenue comes from existing customers.
- More than half of new revenue is (or soon will be) recurring from subscriptions.
Six Critical Service Success Practices
Strategy – The means to create a plan to describe what the service organization wants to accomplish and how it prioritizes initiatives and allocates resources to achieve outcomes.
Programs – A portfolio of service programs to establish customer expectations and define how companies monetize service delivery.
Team – The ability to organize the right people in the right roles to do the right things cooperatively.
Process – Defined activities and actions necessary to achieve desired service outcomes efficiently.
Technology – Enabling tools to innovate, automate, and scale service delivery cost effectively.
Insights – Defined service metrics, access to necessary data inputs, and the capacity to improve based on data analysis.
The future for Services is bright and will continue to take center stage as companies recognize and respond to the necessity to create customer-first strategies built around effective engagement and retention activities.
