Ask anyone if they believe things are changing and you’ll probably get some strong responses. It is not uncommon during business discussions for me to hear stories of shifting priorities, new strategies, and the pursuit of providing more customer value. What about service economy customer service?
Are we in a service economy? You bet, not only will most CEO’s or C Suite executives confirm this, but it really isn’t anything new. Consider that for decades our economy has been shifting. Spinning out of the 2007 – 2009 era recession this trend intensified.
There are more service related businesses on the Fortune 500 list than perhaps ever before. Does this mean that those not in a traditional service sector are in trouble? Not necessarily, but it most likely means they are going to have to change, but how?
Service Economy Shifts
In a service economy, you are likely going to have to be thinking more about customer service. Everything is going to have to shift. This is critical for all sectors, but the biggest transformation may exist in manufacturing and industrial sectors.
Many manufacturing and industrial sectors sell through distribution channels. They may also hire out-sourced sales representatives. Often, their organizational culture has emphasis on the processes and systems that produce goods.
All of this is understandable and critically important, but in a strengthening service economy is it enough? Perhaps, but some of the trendsetters are looking for new strategies.
What works well in a service economy? Subscription based pricing is one approach. Magazines, newspapers, and record (music) clubs pioneered this approach with a lot of success.
Examples of this are well known in some sectors. Software products for example, you once bought a license for life, now you buy it for a year or monthly recurring charges. Website retailers do it through easy reorder, or scheduled monthly shipments, and there are many other examples.
Service Economy Customer Service
What this all means is that in a service economy your best opportunities for gaining market share exist in customer service, it is no longer a department. In fact, it never should have been only about a department.
You should be thinking about not just doing things differently, you are going to have to think about and implement different things.
It is service economy customer service.
Dennis E. Gilbert is a business consultant, speaker (CSPTM), and corporate trainer that specializes in helping businesses and individuals accelerate their leadership, their team, and their success. He is a five-time author and some of his work includes, #CustServ The Customer Service Culture, and Forgotten Respect, Navigating A Multigenerational Workforce. Reach him through his website at Dennis-Gilbert.com or by calling +1 646.546.5553.