Articulate the value of your services for successful monetisation

Monetising advanced services is a mission-critical capability for a successful service transformation. After all, we are all on an exciting journey to grow our service business, launch new, advanced services and strengthen the competitive advantage of our company.

The problem – customers not seeing the value

It is frustrating when your customers:

• Do not see the value of your advanced services.
• Raise objections that hold them back from using your new services.
• Decline to pay (more) for the additional value.
• Expect lower fees because they think you will increase efficiency.

Many service providers see only the first innovative, loyal customers use the new advanced services and struggle to scale up to a larger customer base.

Assuming your service development team did a good job and developed a desirable, viable and feasible service offering that indeed solves a big customer problem, common challenges are:

• Customers do not see what customer problem the new service is solving. We leave it to the (potential) customer to connect the dots.
• The real business value is not well articulated. Which metrics will change, and how much? Which risks will decrease, and what is the business impact of this?
• Your customers probably need to change something in their processes and organisation. They may not be ready for this. These obstacles reduce the value of your advanced service.
• Your customers face risks like not achieving the results, change management, etcetera.

Customers have a different value perception of your advanced services than your service development, marketing, and sales teams.

The solution: better articulate the customer value

An essential part of successfully monetising your advanced services is clearly articulating the customers' value.

Solve bigger customer problems

Clearly articulate the customers' big problem, the root causes of this problem, the impact on their business and how your advanced service contributes to solving it.

Show the tangible and intangible value

Articulate the customers' value as tangible as possible. 
If your service will impact your customers' metric, how much?
If your service reduces a specific risk, what is the potential impact of that risk?

Solve customers' obstacles

Address the typical obstacles for your customers and how to solve these with your advanced services and related service offerings.

Mitigate customers' risks

Reduce the risk perception of your customers with proof, case studies, social proof, and other ways to increase the credibility of your service and brand.

Experiences and insights from your like-minded peers

The past Service Transformation Summit on How to Monetise Advanced Services was ideal for discussing this with your peers.

Participants received:

• 4 high-quality presentations from your peers.
• Extensive and in-depth discussions.
• Post-summit report from the presentations and discussion.

You can find post-summit material on the Summit website.