ARCHIVE FOR THE ‘customer-satisfaction-and-expectations’ CATEGORY

Users now can engage their end customers with step-by-step visibility for the field service last mile with a live map view, job details and ETA countdown via a Glympse-powered journey...

MSI, a leading developer of cloud-based field service management software, has partnered with Glympse, the pioneer of real-time location technology, to bring rich technician tracking capabilities to customers of its Service Pro field service management solution. The addition of Glympse will enable MSI to strengthen the powerful value Service Pro delivers to its customers.

The partnership creates new capabilities for MSI to offer to field service teams using its leading cloud and mobile applications. In particular, Glympse will further help those companies meet and exceed customer expectations on the first visit, empower technicians to provide more responsive, proactive service, eliminate costly manual processes, and track technician location and status in real-time.

“Glympse is a clear leader in harnessing location and mobility to positively impact the customer service experience,” said Harvey Shovers, MSI President. “MSI is excited to add Glympse to the Scheduling, Mobility and Customer Experience suite of capabilities of our Service Pro platform, enabling thousands of field service appointments to exceed expectations with a real-time experience for the service customer.”

Through the partnership with Glympse, Service Pro users will now be able to:

• Initiate the customer-facing Glympse experience as soon as an appointment is booked – via SMS, email or push notifications – so end-customers can review appointment details, add to their calendar or connect with their provider right from the interactive web viewer
• Provide end customers with progressive updates and ETA countdown as the appointment draws closer so customers can more effectively manage their day
• Offer a real-time, live map view of the technician on the way to the appointment, including an ETA countdown, and culminating in an arrival confirmation
• Collect feedback via the Glympse Journey to view as soon as the technician completes the field service appointment, adding the ability to follow up with the customer quickly if necessary

“Glympse has a strong history helping field service teams communicate with their customers during the most critical step of a service appointment - when the end customer is waiting for their representative to arrive to their home, their office or even a construction site,” said Chris Ruff, CEO & President of Glympse.

“MSI has demonstrated a precise expertise in building modern field service solutions for diverse industries ranging from cable, HVAC and construction to medical equipment and manufacturing. We’re pleased to add a new layer of engagement to the solutions they’re delivering for these industries and most importantly, to help them give back time and control to the customers ultimately waiting for these critical services.”

For more information about Glympse, visit http://www.glympse.com, or follow the company on Twitter @Glympse, or on Facebook, Instagram or on LinkedIn.

For more information about MSI and Service Pro, visit http://www.msidata.com, or follow the company on Twitter @msidata, or on Facebook, Instagram or LinkedIn.

 

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The customer experience is a crucial differentiator between organisations and that experience needs to be consistent across the whole customer journey, Samir Gulati explains why this is so vital...

Today’s field-service customers demand responsive support, especially digital natives who are used to getting what they want when they want it.

But even though these customers expect field service to be speedy, it pays to slow down and examine the customer journey to better understand their expectations. Field-service providers then know what elements are worth measuring and can, therefore, leverage software solutions to direct their technicians to respond appropriately in real-time.

So let’s take a look at the five stages of the field-service customer journey, as well as the key metrics worth tracking at each step.

 

#1 The Service Request

The customer journey starts with the creation of a service request. But even a simple request carries the opportunity for deep insight so long as field service providers measure the flexibility of their engagement with the customer and their access to the servicer.

Can users submit such inquiries through multiple channels? Fewer and fewer customers want to communicate through a call centre. Instead, they prefer self-service online portals and machine-to-machine service requests generated automatically by their smart appliances.

But just as customers need access to technicians, technicians need access to customers - namely their service agreements. Automated registrations and entitlement checks, using preconfigured warranty information, allow service providers to assess maintenance options and confirm services instantly.

 

#2 Scheduling Service

Once a service request is submitted and subjected to the automated entitlement check, it’s time for scheduling. At this stage of the customer journey, scheduling options and response times matter most.

Customers should be able to easily book truth-based appointments, which reflect your technicians’ skill level and actual bandwidth based on a combination of real-time and historical data.

This ensures that the right technician is sent out to the right job, which increases first-time-fix rates.

That same information should populate estimated arrival and completion times so customers can plan for their field-service slots and appointments accordingly. Users can then utilize self-service scheduling to reschedule their service calls, at which point they have access to updated information regarding technician availability.

 

#3 Tracking Technicians

Modern customers value visibility and expect field-service companies to offer real-time tracking, much like Uber, for two reasons.

First is compliance with scheduling - simply, will the right technicians be selected, and if so will they arrive and complete their work on time?

This is as important for customer satisfaction as it is for maintaining a tight schedule and limiting unnecessary expenses. Second is real-time updates. If a technician finishes a job early or gets stuck in traffic, will the next customer in the queue receive a notification?

Furthermore, if a customer has extra information they’d like to communicate to the technician, can they send it directly to him or her without routing the message through a call centre?

Even simple messages that tell technicians, for example, what the code to a locked gate is or that the dog in the backyard is friendly can make all the difference in the timeliness and quality of a service call, but only if field-service providers open a direct line of communication between the customer and the tech.

 

#4 On-Site Repair

Once technicians arrive on-site, there are several key metrics that they and their employers ought to track:

• Preparedness: Does the tech have all the right information (and parts) necessary to complete the job on time?
• First-time-fix rate: the percentage of service requests resolved with a single technician visit.
• Time-to-repair: the average period of time it takes for a technician to repair a malfunctioning product.
• Time-on-site versus estimated: the difference between the estimated time-to-repair measurement and the actual repair time.

Field-service providers can use these measurements to assess the productivity and efficiency of their technicians as well as the effectiveness of their appointment workflows.

They can then fine-tune their processes and improve their service.

 

#5 Post-Service Engagement

Post-service engagement is the crucial last step in the field-service customer journey, which includes payment, customer satisfaction surveys, the ability to re-open a ticket, if necessary, and backend reporting.

By tracking order to cash (OTC), field-service companies can reduce the complexity in payment channels complicated by contract work, warranties claim management and sourcing parts.

And in a world where nearly 7 out of 10 customers leave reviews after purchasing products or services, channels for tabulating repeat services and gathering immediate feedback on services rendered can further provide valuable insight that field-service companies can act on immediately.

 

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Samir Gulati, is Chief Marketing Officer, ServicePower 

 

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Manuel Grenacher discusses why Automation is set to play a crucial part in the two key pillars of field service success, operational effectiveness and customer satisfaction...

As part of the fourth industrial revolution, manufacturing factories are undergoing digital transformations, and not just on the factory floor but also business-wide – specifically regarding automation.

Research firm Gartner defines intelligent automation services as “a variety of strategies, skills, tools, and techniques that service providers are using to remove the need for labour, and increase the predictability and reliability of services while reducing the cost of delivery,” and Gartner predicts that automation will reshape managed workplace services over the next few years, providing a higher customer experience at a deflated cost.

 

"More than 50% of job responsibilities of today’s global labour force can be automated by adapting contemporary technologies..."

 

Less than 5% of occupations are likely to be affected by full automation, thus curbing job dismissals – which are often cited as the main risk of the automation trend. Instead, industry experts are discussing the “partial automation potential” concept and estimate that more than 50% of job responsibilities of today’s global labour force can be automated by adapting contemporary technologies, amounting to over $15 trillion in wages.

In the field service management (FSM) industry, to keep up with customer demands, field service organisations are refining, expediting and automating service processes, using automated dispatch and scheduling software to adjust and balance resources and manage the growing number of jobs, technicians and customers.

Dispatchers work closely together with the system, leading the more face-front work and leaving the technical, tedious work to the automation-enabled software – and this results in the following benefits and outcomes.

 

Finding the Perfect Fit

With the help of automated dispatch and scheduling, service providers can review historical customer information at-a-glance and send out the best-fit technician with the proper skill set and tools, resulting in the quickest match and an excellent experience for all partners involved.

Having a technician on-the-job without the proper equipment and expertise can damage the relationship between the customer and technician, and can lead to many inconveniences when chasing down the potential solution. Field service organizations can deploy the automated system for both short-term projects, as well as long-cycle projects, which requires a complex calculation and organization of specific resources over an extended period.

 

"Automated dispatch and scheduling projects enable the best possible utilisation of all available resources, resulting in simplifying the dispatching process..."

 

Automated dispatch and scheduling projects enable the best possible utilisation of all available resources, resulting in simplifying the dispatching process, increasing first-time fix rate, and elevating efficiency and productivity (which translates directly into a sizable return on investments).

By providing relevant details to technicians in the field, while they are in the middle of scheduling future appointments and managing various projects, field service organisations will notice smoother and swifter operations.

 

Flexible Mobility and Real-time Results

Customer satisfaction extends far beyond the purchase of machines and devices, as the increasing shift towards a mobile-enabled, connected world has conditioned end-users to expect delivery of products and services in realtime.

People do not have time to wait around for a technician set to arrive sometime within an 8-hour time-frame; with the help of up-to-date, automated status reports via mobile devices (including phones, tablets and more), customers are supported as conveniently as possible.

An automated system also benefits the technicians, as they can receive real-time information on their schedules, directly to their mobile device. If a colleague is unable to perform a project or task, the automated software dispatches the adequate person to the assignment and eliminates the tasks of heading to the back office to get assignments or manually checking the best route to appointments.

Before automation, administrative staff were dependent on a labour-intensive process and inefficient combination of spreadsheets and geographic expertise of schedulers to get engineers where and when they needed to go.

Automated dispatching and scheduling gets the right people to the right place, on time, and with the parts they need – and enables organizations to transmit critical information much faster and more efficiently than before.

This leads to improved field service operations on a local, national and international scale, which results in the ultimate goal: an enriched customer experience.

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Manuel Grenacher is CEO, Coresystems

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Across the last few weeks, we've run a mini-series of excerpts of from the latest white paper from IFS we take a look at how communication is changing and technology is evolving.

In the first feature in the series, we looked at how when it comes to communications, Customers Want It Their Way . In the second instalment, we explored how Complexity Is a Distraction to Delivering your Target Customer Experience.

Now in the third and final excerpt in this series we discuss "How to Reverse the ‘It’s Getting More Complex and Expensive’ Trap" that so many field service companies can fall into...

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Are improving your communication channels a key issue for you?! The full white paper on this topic available to fieldservicenews.com subscribers. Click the button below to get fully up to speed!

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So far we have explored two points of view: the customer and the advisor. The customer’s adoption of technologies that enables an always connected, real-time responsive lifestyle has set an incredibly high bar for organisations to match. In particular, smartphones simplify the business of getting things done. An obsessive design focus on ‘one-click access has set expectations for simple, immediate engagement.

 

"Choice in communication channels is often offered in a fragmented way. Tactical procurement of ‘the next channel’ means they operate without the ability to orchestrate conversational continuity across channels and devices..."

 

However, organisations are yet to match this sophistication. Choice in communication channels is often offered in a fragmented way. Tactical procurement of ‘the next channel’ means they operate without the ability to orchestrate conversational continuity across channels and devices.

A similar fragmentation has also occurred with enterprise CRM deployments. These have an enduring reputation for being hard to deliver. Scaled down ambitions then tend to target a more pragmatic focus on the individual needs of functional teams. This makes personalised service a much more complex task for advisors who are still expected to be knowledgeable about any event across a customer’s lifecycle.

Organising customer data by functional priorities has meant CRM is failing to keep pace with expectations for informed, low effort customer service engagement. Operationally it is just too hard for advisors to locate and assess the context of a customer’s situation on the fly. Both customer and organisation suffer in terms of poor customer experience and ROI.

Instead, this is how customer data should be used.

At the point of initial customer contact, a rich mix of relevant data is used for automated decision making. The aim is to direct customers to their ‘best’ resource. In an omni-channel context, this could be live assistance, self-service or proactive service. The triggers for selecting the ‘best’ resource will depend on the demands of each customer journey and how each customer reacts during that journey.

As a rule of thumb:

• Repeatable customer needs at definable points of a journey can be anticipated and therefore offered as a proactive service.
• Whenever things typically become complex, emotional or require some form of relationship nurture, live assistance is best.
• Anything else is a candidate for 24x7, instant self-service.

As far as live assistance is concerned, the ‘best’ advisor experience is that data and workflow is proactively pushed to them at the right points during each customer journey. The function of an effective unified desktop is to make the complex look simple. As a result, advisors are less distracted and can remain in full rapport with each customer and their needs.

This simplification demands a single screen of information that will adapt as the conversation flows. What previously required toggling across multiple screens is now condensed into a single overview - with duplicated and inconsistent data entry a thing of the past.

Some of this design intent is achieved through visual layout: for instance just one inbox for all voice and text enquiries, one view of interaction and transaction history etc. All of which makes for the kind of intuitive user experience that advisors already expect from their mobile technologies.

However, there is also some clever stuff that happens before any customer information is brought to the advisor’s attention. In the design quest of presenting only the most simple and relevant view, an advanced unified desktop will combine many data sources into a single stream.

As previously mentioned, holistic customer insight is seldom held in one system of record or offered by a functional view. And hard-won experience tells us that the ‘rip and replace’ strategy of turning many legacy systems into a single consolidated version seldom works out as planned.

 

"Modern ‘digital glue’ such as data aggregation models and APIs can ‘mashup’ multiple data sources and present the advisor with everything they need..."

 

Instead, there are less risky ways of achieving the same goal. Modern ‘digital glue’ such as data aggregation models and APIs can ‘mashup’ multiple data sources and present the advisor with everything they need.

Sometimes an even greater focus is needed around how customer information is organised and displayed. What about those instances when first-time resolution does not happen within a single session? Maybe the process that supports a customer journey inevitably takes time, such as making an application or a claim or trying to recover lost property. Maybe the customer or organisation has to find more information or do something else to reach a decision. All of which takes more time.

This is where case management comes into its own. It draws boundaries around this type of customer situation and attributes the relevant data, interactions, transactions and workflow for easy ongoing reference. This is especially important when there are multiple points of customer contact, which are progressed by different employees, who need to easily reference previous steps in the customer journey without expecting customers to provide the narrative.

This form of grouping is enabled by one of the defining functions of an omni-channel framework. So-called ‘universal queuing’ will organise all voice, text and workflow items into a single management system instead of treating them as separate queues. As a result, integrated views of activities over time are automatically generated and presented to the advisor, saving time and effort for all concerned. This ability is however untypical in a CRM centric approach.

 

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Samir Gulati outlines four key technologies that are forming the bedrock for twenty-first century field service...

Twenty-first-century technological advancement has transformed how businesses everywhere communicate and interact with their customers.

Gone are the days of the occasional customer service call. Mobile technology has forever changed how people connect with product and service providers.

Field-service businesses that have yet to embrace digital customer engagement methods and tools must work quickly to do so. Modern consumers don’t like losing whole days waiting for calls from service personnel. They expect field service companies to use the latest technology to streamline the customer experience, create visibility into appointments and reduce hassle.

But which technological innovations should field service providers focus on? Here are some of the key technological tools gaining steam among the customers of the connected age.

 

Customer portals

Because of the pervasiveness of mobile technology, customer portals are everywhere.

Although the quality of these web-based assets varies from business to business, there are a couple essential components that creators of customer portals will always include:

• Information-rich, personalized dashboards allow users to view critical service data.
• Payment and account management give customers transparency into their past service requests and a place to pay for services rendered.

With tools like these, customers can serve themselves, which 67 percent prefer over speaking directly with a customer service representative. That said, direct communication tools such as instant messaging are still valuable, especially if they connect a customer with their personal technician or central dispatch.

These features not only meet the high standards of connected customers. They also simplify field service operations and reduce the likelihood of miscommunication between the provider and the customer.

 

Internet of things:

The internet of things is perhaps the most powerful innovation transforming business-to-consumer interaction today. At the moment, more than 11 billion IoT assets are active worldwide. By 2020, that figure is expected to jump to around 20.4 billion, a good number of which will likely be part of connected field-service operations.

In the field-service industry, asset-based deployments are common. Sensors embedded in equipment or appliances leverage internet connectivity to notify owners or even field-service providers when maintenance may be required, accelerating the repair process. Technician facing IoT workflows are also common and use geolocation to track service teams and route them to customers in need.

 

 

Smart home technology:

Even though web-enabled smart home technologies have received a lot of buzz in recent years, relatively few homeowners have adopted such solutions: In 2017, only 10 percent of families across the had any connected home solutions.

But smart home adoption isn’t unlikely to remain this low for long. Consumers are beginning to understand how much time and money smart home tech can save.

Field-service companies in the utility sector are catching on to the building momentum behind these innovative hardware and software solutions. Smart thermostats, for example, give customers greater visibility into—and control over—their electricity and gas usage. They also give technicians a better way to leverage data in order to provide personalised service and communicate effectively with the customer and the manufacturer.

 

Augmented reality:

Reality, augmented by real-time data, delivers benefits to connected customers by giving their technicians all the resources they need to perform perfect maintenance.

Field-service companies of all sizes are leveraging these tools to revolutionise on-site operations. Many are equipping technicians with augmented reality headsets that allow them to view updated product operating instructions or best practices while performing maintenance or repairs. Others are using these tools in training exercises so new technicians can ramp up quickly.

 

Summary: Embracing Innovation:

Field-service providers without these technologies may still be tempted to hold off on adoption. Perhaps they find these solutions too expensive or too complicated to deploy at the moment. It’s up to the decision-makers at these companies to decide what’s viable and what isn’t.

But these leaders should not underestimate the power of creating a bold new strategy for technology. It can lay the groundwork for excellent service effective operations in the age of the connected customer. As technology moves forward, so do consumers.

Field-service enterprises would be wise to recognize this reality and put into place up-to-date hardware and software that meets the needs of those driving the modern marketplace.

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Samir Gulati, is Chief Marketing Officer, ServicePower 

 

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Jan Van Veen, Managing Director, moreMomentum, continues his series of articles looking at how service organisations can drive revenue from their services by harnessing the IoT...

Solve bigger customer problems

In the previous issue of Field Service News, I wrote an introduction on the topic “How to Monetise Services and IoT”, covering the dilemma of many business leaders in manufacturing.

In this article, I will elaborate on the first of the three critical steps which often make the difference between success and failure:

• SOLVE BIGGER CUSTOMER PROBLEMS
• Articulate the value
• Build internal momentum for monetisation

Common mistakes in the industry

One of the common mistakes is focusing on the smaller problems and making only small incremental improvements to services or solutions.

 

"One of the common mistakes is focusing on the smaller problems and making only small incremental improvements to services or solutions..."

 

These are typically the standard next step improvements most competitors bring to the market as well. Although these are also necessary improvements – adding features to your solutions - to sustain your market position, they are unlikely to bring about significant growth or opportunities required to monetise. For example, think of new features that car manufacturers introduce to their new models or weekly computer software updates that occur without paying more.

Another common mistake is focusing too much on only the availability and use of the equipment. In most situations, the extra value is having a broader impact of the value creation process for our clients. In most industries, the purchase, financing, and maintenance of equipment is a small portion of the overall budget.

 

Truck manufacturers as an example

As an example, while the sale of trucks was shrinking dramatically, leading truck manufacturers like MAN, DAF and Scania discovered that discounting the trucks did not have that much of an impact. One of the biggest challenges for truck operators was reducing fuel consumption. The leading truck manufacturers took this challenge beyond aero-dynamics and engine efficiency, and developed data-driven services to reduce fuel consumption by improving the way truck drivers drove the trucks.

 

Discovering the bigger customer problems

The ideal practice is to:

• Solve the bigger problems in a significantly better or more efficient way for clients, or
• Solve any new significant problems for our clients

Before developing new services and solutions, it is crucial to have a deeper understanding of the challenges and problems that your clients face. The following activities will prevent any bias from long-standing experience and business norms:

• Reframe addressable customer needs with your team and colleagues who are involved. The aim is to have a broader view and scope on customer needs. Explicitly ban objections against the idea of servicing those needs.
• Focus on actual “jobs-to-do” for your clients and areas where they are struggling or could improve. For example, improving uptime may not be that relevant for clients with a low utilisation rate. Whether you carry out professional customer research or not, it is always good if various colleagues have frequent open conversations with different stakeholders about views on the industry, trends, challenges etc. Sharing the following simple diagram during such conversations is helpful for you and your clients to keep the dialogue open.
• Explore how your clients are solving problems and what suppliers are helping them.
• Also, explore the needs and challenges of the customers of your customers. This will give more insight into your customer’s needs.
• Explore what needs you could/should be addressed now and in the future. With these insights, you can extend and enhance your vision, strategies and roadmap for innovating your services and generating new revenue streams.

 

The Benefit

Manufacturers that solve the bigger problems can better articulate the value for customers and staff, have higher momentum for change and monetisation, generate new revenue streams and differentiate themselves more from the competition.

 

"Manufacturers that solve the bigger problems can better articulate the value for customers and staff, have higher momentum for change and monetisation..."

 

]They perform better and have more resources to keep innovating their business, enabling growth in a sometimes disruptive world.

Monetisation of services and IoT – Impulse Session

If you want to accelerate the monetisation of your (new) services and IoT, join our upcoming Impulse Sessions on “How to Monetise Service and IoT”. These are full-day interactive meetings with like-minded peers during which we will exchange our experiences, insights, and challenges.

Book your seat @ http://fs-ne.ws/1pMC30lpssC

Essence

Great offerings and solutions won’t sell themselves!

It is various colleagues together that drive the value perception and sell the solutions, because of their eagerness and passion to perform, learn, develop and make new things happen, as well as avoid unnecessary obstacles that cause internal conflicts of interest and reduce confidence.

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Jan Van Veen, is Managing Director, moreMomentum, 

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If there is one industry that should be leveraging data in every way possible, it’s telecommunications. The telecommunications industry services billions of people each day, generating massive amounts of data. Though not many telecom companies are leveraging this data, the introduction of data science, machine learning, and artificial intelligence in this industry are inevitable.

A study by McKinsey, Telcos: The Untapped Promise of Big Data, based on a survey of leaders from 273 telecom organizations, found that most companies had not yet seriously leveraged the data at their disposal to increase profits. And only 30 per cent say they have already made investments in big data.

So while there is certainly debate within telecom companies about whether the return on investment is worthwhile, there is no doubt that data science, machine learning (ML), and artificial intelligence (AI) are inevitable when it comes to the industry’s future. Those that figure out how to leverage these techniques and technologies will thrive; those that don’t will be left behind.

By using data science, machine learning, and artificial intelligence strategies, telecommunication companies can improve four areas of their services.

The importance of data science, ML, and AI to the telecom industry will likely present itself in these four areas in particular, which this paper will take a look at individually:

 

1. Troubleshooting:

One of the major challenges for telecom providers is being able to guarantee quality service to subscribers. Analyzing call detail records (CDR) generated by subscribers at any given moment of the day is key to troubleshooting. However, CDRs are challenging to work with because the volume of data gets massive and unwieldy quickly. For example, the largest telecommunication companies can collect six billion CDRs per day.

With data science, machine learning (ML), and artificial intelligence (AI), companies can instantaneously parse through millions of CDRs in real-time, identify patterns, create scalable data visualizations, and predict future problems.

 

2. Fraud Detection: 

Verizon estimated in 2014 that fraud costs the telecom industry upwards of $4 billion a year. However, the faster that telecom companies analyze large amounts of data, the better off they are in identifying suspicious call patterns that correlate with fraudulent activity.

Cutting-edge ML and AI strategies like advanced anomaly detection make it much easier for telecommunication companies to identify “true party” fraud quickly.

 

3. Marketing:

The high churn rate in telecommunications, estimated at between 20-40% annually, is the greatest challenge for telecom companies. Telecommunication companies can use data to build better profiles of customers, figure out how to best win their loyalty (in the most scalable and automated way), and adequately allocate a marketing budget. With improved data architecture, they are able to harvest and store a greater diversity of data that provide insights into each customer such as demographics, location, devices used, the frequency of purchases, and usage patterns. By combining data from other sources like social media, they can have a stronger understanding of their customers.

Using machine learning gives a more accurate picture of which channels are most responsible for customer conversions for better ad buying as well.

 

4. Customer Experience: 

Telecommunication companies can enhance their services by analyzing the millions of customer complaints they get every year to figure out which types of improvements will have the greatest impact on customer satisfaction and thereby increase customer retention. They can also leverage data at a larger and more automated scale to gain insights into the performance of their technicians.

The more that telecommunication companies can analyze data on customer calls, the more they can begin to recognize which types of problems are most likely to lead to unwarranted “truck rolls” and put in place measures to prevent those calls. Given the number of calls and the depth of analysis required, this necessarily dictates a machine learning approach - more specifically, a deep learning approach. Because analyzing the calls themselves means dealing with lots of unstructured data, it’s the perfect place to expand into ML and deep learning for big gains.

 

The future of data in the telecom industry

Data science is already a big part of the telecommunications industry, and as big data tools become more available and sophisticated, data science, ML, and AI will all continue to grow in this space.

In the coming years, companies that succeed will be those that figure out how to best use the massive number of data points that are flowing both through their network and around it to reduce labor costs, develop better technology and, to better understand what the seven billion potential customers around the world want to do with their smartphones and computers.

To learn more, download the whitepaper White Paper: Top 4 Growth Areas of Machine Learning in Telecommunications.

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Commerce has successfully transitioned from being based around commodities, then products and finally services. But that is not the end of the evolution as Mark Brewer, Global Industry Director, Service Management, IFS introduces the concept of the experience economy...

Commerce began with commodities.

Hundreds of years ago, we simply exchanged items for money in a single transaction. Take coffee, for example. You could buy a sack of beans, but you’d still have to put in a lot of work in to make a drink.

So, these transactions gradually became more constructive and based around specific buyer needs. Commodities became products. Coffee beans became coffee jars – ready-ground. All you had to do was add water. It was a better, faster and a more cost-effective solution.

As competition intensified, our service economy was born. Rather than getting your coffee from a jar, you went to a coffee shop where someone would not only make it for you but also ensure it tasted just right. Success was now about ensuring customer satisfaction.

But what’s next?

Welcome to the ‘Experience Economy’

Technology has transformed the way people interact. In the digital age, we expect to track orders, resolve issues and update information immediately. It’s a world of ‘connected customers’, and businesses must respond with exceptional, personalised service experiences. Customer engagement is king and servitization enables it.

Staying with the coffee analogy, consider Starbucks. Now, you’re not just buying a product or service, but an entire lifestyle. However brief your visit, you’re immersed in the Starbucks brand - from communications and messaging to products and services, and so on. It’s a rich, multi-sensorial, emotive world... and whether good or bad, you leave with a feeling. It is memorable.

And that’s the difference between the service and experience economies. Done well, this experience creates positive brand associations and is the ultimate driver of customer loyalty.

Mass customize a service and it becomes an experience – making you feel like “one in a million” (Starbucks puts your name on the cup!). It’s the next evolution for businesses, although some are already well on their way - like the medical devices industry.

MRI scanner manufacturers are under pressure to deliver high-quality, accurate scans every day.

With the stakes so high, these companies don’t just sell the machines, they also guarantee their ongoing service performance and overall user experience. It’s about the entire patient and hospital interaction, from start to finish.

It’s like staying in a hotel. These days, you probably wouldn’t only judge your stay based on your room, or how comfortable your bed is. More likely, you’d consider your entire accommodation experience - from the moment you make your reservation online to your final steps out of the door after checkout. Each influence and interaction along the way contributes either positively or negatively to your overall opinion.

Every touchpoint counts

This analogy may seem obvious - but it’s essential to doing business today. Most organisations have traditionally measured customer satisfaction to predict loyalty and future behaviour. However, consumers consider every individual touchpoint, rather than simply linear values like ‘Did I like the product?’ or ‘Did I get value for money?’ So, this metric may be less valid these days.

Sure, the product may be excellent and do exactly what they always wanted, but that is table stakes today.

What if the delivery lead time was too long, the support helpline is not promptly answered, or the returns process inefficient, then they may shop elsewhere next time.

Elevator manufacturers demonstrate this opportunity in action. Most products are similar in functionality and have become commoditised.

They use similar technology and parts so it’s difficult to differentiate between them on appearance or performance alone. To gain an advantage, they focus on overall experience. It’s no longer about being the fastest elevator or the most hi-tech: it’s about giving every user the best end-to-end experience, that fulfils their particular needs. Their focus today is not their customer (i.e. the hotel), but their customers’ customer – you and I.

If we look at this from the perspective of the IT industry, for service providers the mindset shift is from selling contracts to selling outcomes, such as user experiences and comprehensive service level agreements. In such a competitive environment with so many similar products and services on offer, this gives vendors a real opportunity to create difference and build success within their customer base.

So, how do you get to this position?

Many companies don’t yet have the right processes or infrastructure in place. Systems are not optimised and often disjointed which means ERP is either over-stretched or misused. IFS can help. Our end to end service lifecycle management solution is purpose-built and holistic, delivering customer engagement seamlessly, throughout the journey.

The experience economy is here to stay - and customer engagement aimed at delivering outcomes is its currency. To find out more about how to make the experience economy work for your business, visit IFSworld.com.

 

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