This is the second of a two-part blog series describing Jolt Consulting Group’s “Service Excellence CurveSM” and how companies can achieve best-in-class service.
The Service Excellence CurveSM
There are many reasons why excellent service is valuable to a service business. If a company can provide best-in-class service, they will retain customers, attract new ones, and realize financial gains.
Providing best-in-class service enables your business to have a competitive advantage in the industry. With sophisticated tools and processes integrated into your operations, you’ll be able to easily attract customers, engage new ones, and increase profits. But not every business is at the pinnacle of providing excellent service today…and that’s okay. That’s why Jolt Consulting Group developed a 5-stage Service Excellence CurveSM to help service businesses benchmark how they compare against best-in-class. The Service Excellence CurveSM also provides a roadmap for changes in people, processes and tools to support operations and the strategic vision of the service organization.
Service as a Competitive Differentiator
As described in the first blog post, if your business has already solidified trust with customers, easily overcomes price objections by instituting a value-added approach, has achieved operational consistency, and provides excellent, referral-worthy service, you’re likely making your way towards best-in-class service. But in a fast-paced world with continuously changing trends, how can you be sure where you stand and what can you do to continuously work towards service excellence?
In this blog post, we’ll examine the more advanced stages along Jolt Consulting Group’s Service Excellence CurveSM and the components your service organization needs to operate effectively and efficiently.
Proactive and Predictive Maintenance
To properly function as a proactive – not reactive – organization, you must be able to capture diagnostics and performance from the field and track patterns and trends for planning purposes. This type of “connected” dialogue will foster automation, especially as it relates to proactive service work and providing service excellence to the customer. To reach the best-in-class pinnacle, your business must live primarily in the proactive service event world.
Intelligent Data Mining
With the onset of the Internet of Things (IoT) in service comes mounds of data to aggregate, analyze, and make actionable. Advanced technology infrastructure allows businesses to generate actionable intelligence from this data, helping to run a more well-oiled operation. To achieve this feat, it’s best to build a predictive or prescriptive model to establish data/pattern analysis. If your business has already integrated this level of intelligence or has plans for implementation, you’re on your way to achieving best-in-class status.
The more your business is connected in real time – across the enterprise – the more efficient operations can run and provide a holistic view of the customer. Organizations that have moved further along the “Service Excellence CurveSM leverage the complete customer view to create new and unique customers touch point and interaction to drive a a positive customer experience.
The Service Excellence CurveSM Journey
If your business operations include predictive maintenance, automation, and integration, chances are that you’re near the top of the Service Excellence CurveSM. If so, then your business will fit into one of the top two categories:
(Click here to read about the first three stages.)
STAGE 4 – Innovator
In the Innovator stage, companies are an integrated service organization with a strong commitment to predictive maintenance. A sophisticated technology infrastructure is in place to capture, synthesize and create valuable intelligence from product data. Service is typically the company’s largest profit center and service contract adoption is widespread. This is a strong position to be in along the Service Excellence CurveSM but there’s still room for improvement to achieve peak performance.
STAGE 5 – Best-in-Class
The operational and technology infrastructure from prior stages has set the foundation for companies. Performance based service contracts and a fully integrated enterprise characterize the Best-in-Class stage. Service data is viewed as a critical asset and utilized across the entire organization (e.g., engineering, design, manufacturing).
Providing superior service creates competitive differentiation, customer “stickiness” and financial benefits for the service organization. The Jolt Consulting Group Service Excellence CurveSM helps service businesses understand where they are on the curve and provides a blueprint to follow on their best-in-class journey. Moving up the Service Excellence CurveSM requires a strategic plan and changes in the organization’s people, processes and tools.
For an assessment of where your company stands, contact us today!