Services as strategic assets

There are few solutions whose delivery requires a better analysis and knowledge of the client’s reality than Services, in order to give real value to the activity. That’s why services have an intrinsic and unique ability to transform the business organization that provides them, helping them to accurately approach their market, grow in a cost-effective way, keep their staff and their customers with them.

The benefit given to our company by every link in the business chain, for a final delivery of value multiplies the contribution of each element and closes a round motion process with the consumer that has to be repeated and feedback all over again.

I’m talking about the strategic reflection needed to determine a proposal of clear added value (and the way of delivering it to the client) with the skills and adequate cost structure, to achieve their confidence and satisfaction along with the positive return on cash flow.

There is a difference between selling a service and offering a clear benefit to a client. The first quote assumes the value of the service. The second is that the value is in the use that the client gives to this service to get the maximum performance of its activity, for the longest time and in the most efficient way.

Services are intangible assets, so it is essential to make their benefits visible to third parties through the best communication and relationships, established through facts and concrete information, for this, it is necessary to get deep into understanding our customers, increasing the collaboration with them. By helping them measure how much value our service will add to their business and their own customer’s experience, and how many costs and problems we will save them.

It is more profitable to reach the customer’s loyalty with a personalized service instead of investing in attracting new customers. Trust is gained by really contributing to discover opportunities, prevent threats, correct weaknesses and reinforce success that can strengthen the competitive advantages of our clients.

The services, understood in this dimension, are a strategic asset for any company, since they link us with our clients along the way. This forces us to understand their motivations, so that we can innovate and improve our contribution keeping their trust. This gives us recurrent and well-known revenues, increasing the resistance of the economic cycles better than other activities. They are, in conclusion, a permanent business opportunity, as well from the point of view of increased sales as for the reduced costs. They lead us to increase the benefit together with the customer satisfaction, in a permanent and sustainable cycle.

The service market evolves and is constantly demanding new answers. In the current context, companies must take advantage of the processes of change out of the past crisis and the adaptation, flexibility that they have experienced from the learning that resulted of the whole process.

To circulate for this bundle of services, it is also important to do a constant follow-up because there are no shortcuts, only continuous work, a realistic methodolgy and enjoying making it better every time. This race forces us to increase efficiency to optimize quality of the delivery and cost structure. Everything we do must be connected and have a meaning for our customers and, therefore, for us.

Dedicating to services gives a privileged and integral view, both inside and outside our company. A holistic vision that forms a circle of excellence, that race in which we do not run alone. Because in Services, customer and supplier are part of the same team.

Alberto Marín
Operations and Services Director, Spain at Gunnebo

Executive MBA – IE Business School
MSc Industrial Engineer

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