By Mark Euwe
Managing Director The Lookingglass, former EVP of Canon Business Services and Oce Business Services, former Executive Partner Accenture.
Mark Euwe has over 30 years of experience in the Services industry, both in professional services as in manufacturing environments. With outspoken views on how to build a successful service business, Mark acts as thought leader in the domain.
What to do when your client gets at the end of your hardware product catalogue
We used to say, ‘at the end of the product catalogue, there is always a new service product to sell’.
With that we expressed while there was typically a limited set of hardware products to be sold, opportunities for service products often seemed limitless.
This is also why we always object strongly to the idea that Servitization is about ‘Turning your product into a service’. Because you can do that only once. But if you adopt the concept of creating added values around and on top of your product portfolio(s), now all of a sudden the sky is the limit.
While developing and launching a new hardware product could take many years, launching a new service product could often be done in a few quarters.
(The validity of the logic is probably dependent on the actual size of the company, but for SME’s I believe this is a very true statement. For multinationals, there is always the added complexity of rolling out into different geographies and workforces).
So when we would see a specific need develop in the market, we could jump on it with relatively modest leadtimes. And the nice thing is that you can sell a new service product to your whole installed base.
So if you are looking for growth, have a look at your service product portfolio.
For more info on how we can help with your service business, visit here.
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to become more visible.