11.17.22 -- Why Service Is The New Product, And How It Enables Outcomes

Service is the new product. And it enables the move to outcomes. Delivering ground-breaking products is no longer enough to win your customers’ hearts and minds. You must deliver the desired outcomes that customers have for their assets and equipment.

Each year, Strategies For Growth (SFGSM) conducts a series of Benchmark and Custom Surveys among its outreach community of more than 20,000 global services professionals. Total responses for the 2019 Servitization Journey Benchmark Survey, conducted in June/July, 2019, are 174, and it is among this respondent base upon which the survey analysis is based. 

While valuable, perspective isn’t always easy to gather because, as humans, we often like to believe we have it all figured out. So much of service, of field service, is changing and fresh perspective can help take us outside of the view that change is scary or daunting and instead help us see that it holds a wealth of opportunity.

Now more than ever, service providers are pressured from all sides. Leading businesses need to think carefully about how they manage their field service operations and the type of technology they invest in if they want to gain a competitive edge.