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Monetising Service | Panel discussion: Drive service revenue and growth with personalised services

Panel discussion: Drive service revenue and growth with personalised services

by | Nov 12, 2017 | Monetising Service

New technologies offer great opportunities to improve customer experience and perceived value. When done in a differentiating way, this can drive revenue.

This week, during the Field Service Asia in Singapore, I had the pleasure of moderating a panel discussion on this topic with Julie Bourke (ADP Australia), Prakash Punjabi (Glory Global Solutions, Singapore) and Matthew Metcalfe (Wright Medical Technology, Australia) . Here are some take-aways from this panel discussion:

  • It goes without saying it is all about delivering value – perceived value – by meeting basic requirements and to differentiating from other alternatives. This value can be tangible (like machine uptime) and more intangible value (like personal touch, caring, flexibility).The needs and expectations vary per customer segment, per customer and individual. So one size doesn’t fit all.
  • A key challenge is to understand needs and expectations of your customersFor sure, this requires good dialogue with your clients by all customer facing personnel like service engineers. However, only asking your customers will not be enough. We also need to have insight that our clients do not have themselves. Like Henry Ford said: ”If we would have asked our clients what the need, they would have said – faster horses”.
  • One of the solutions is to use design thinking approach by external experts who have no pre-wired thinking around your current products, technology, services and customer needs. They often come with successful ideas you never had thought of.
  • New technology and platforms through which we deliver our services or interact with our clients offer great opportunities to discover their needs and to deliver personalised services. On any webpage of for example Amazon and Booking.com there may be 7 aspects being tested to find out what works best for their clients. Clients can personalize the services they use on their app.
  • Perceived value can be impacted if the gap between expectations and delivered value are is to large. Part if the solutions is to make sure we set the right expectations in our marketing and sales dialogues. This requires that optional customizations and personalizations should be defined and designed.

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