Leaders of product-based companies are under an enormous pressure to stay competitive by shifting revenues from selling goods to delivering services and solutions. Yet few executives realize the extent to which they must change their organizations to succeed in growth through services. In today’s webcast, Dr. Mary Jo Bitner, Professor and Executive Director of the Center for Services Leadership at W. P. Carey School of Business and Dr. Steve Brown, Emeritus Professor and Strategic Partner of the INSIGHT Group, talk about their new book Profiting from Services and Solutions: What Product-Centric Firms Need to Know. The book discusses key success factors that can help product-centric companies to succeed in transforming their businesses. The book draws on the authors’ years of academic research and consulting work with several Fortune 100 member companies. You can find it on Amazon and Business Express Press website. Visit Center for Services Leadership blog for information about the book and special pricing offer from ISSIP.
Few firms consider “whether all of their individually desirable customers are, from the standpoint of risk, desirable collectively” (Dhar and Glazer 2003). Dr. Beth Walker, ASU, and Dr. Crina Tarasi, Central Michigan University, present the findings of two papers that highlight the importance of considering the likely variability of revenue streams produced by customers when thinking about who to target with your marketing segmentation efforts. Although risk management is central to financial portfolio theory, and occupies much of the thinking of a CFO, in marketing, researchers have given little attention to thinking about risk as it relates to market segmentation and selecting the portfolio of customers that we choose to serve. In this presentation, Dr. Beth Walker and Dr. Crina Tarasi share their research that demonstrates how the fundamental tools of analysis used by professional investors to manage the risk and variability of a stock portfolio can be effectively applied to managing a firm’s portfolio of customers. Borrowing from financial portfolio theory, the research centers on approaches to reducing the variability or risk associated with a firm’s customer portfolio without sacrificing the level of cash flows.
Up to 30% of service workload is preventable. An effective VOC process can drive workload prevention efforts as well as support increased First Call Resolution. In this webcast, John Goodman, will show how the VOC process can impact both the service function as well as instigate improvement of other company processes. Keys to success are identifying a broader range of causes, linking contact data to operations data and obtaining strong CFO support.
John Goodman, Vice Chairman, Customer Care Measurement and ConsultingResearch has shown that Voice of the Customer (VOC) efforts that have CFO buy-in are considerably more effective at getting important customer issues fixed. Winning CFO approval for investing in the customer experience is no easy matter. Those charged with persuading the CFO to make such expenditures face certain challenges in leveraging the necessary resources and breadth of authority to deliver a world class customer experience. In this webcast, drawing on his work with companies recognized for their customer-centricity, Mr. Goodman will provide insights and a proven protocol for building a business case for evaluating service and quality investments.
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