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Achieving service economy success in tough times

Service Economy Service Economy Service Economy

It is a well known fact, and published extensively in both braodsheets and business books, that strong, successful organisations, businesses and companies, be they in the commercial, public or not-for-profit sector, have the unerring ability to face into and confront the facts of the times.

As we stand here today in the passing long tail of an economic downturn which began in late 2008, times are tough. Work is tough, pressures are higher than ever, employment is a precisous commodity and success hard to maintain – for all of us things are different.

In a recent artilce published by Accenture (Outlook 2011:1) findings from thier reseach show compaines reporting that substantial portions of thier leadership and workforces lack resiliance and the ability to manage change.

The reality is, that finding talent is difficult and the emphasis is now on maintaining, nurturing and growing talent from within, and in this area lessons and solutions often should come from within. The 'great' companies and leaders know this and execute robustly.

So what pointers are there to leading service success?

In tough times the overall top level approach changes from 'growth' to 'harvest' through an appreciation of, and actions to adddress, some core tactics, namely;

  1. Customers / clients want efficiency and saving (VFM)
  2. Add to your core USPs – differentiate all the more
  3. Optimise the technology you have
  4. Whatever your offerings – the key is value (For clients as well as the business)
  5. Marketing focused on current clients
  6. Growth through existing clients – personalise.

Ultimately the goal is (in the eyes of your client or customer) a more personal, satisfying and richer customer experience than anyone else can do in your field.

Even with limited resources to target this, you can still prioritse when and how thus ensuring the successes demonstrate your focused approach and cost savings are achieved.

For those that love metrics and indicators, clearly they must be focused on leading indicators (predictors of change in behaviour) of the customer and their experience of you (If any readers are interested – let me know).

Of course these are all nice words in theory, but what makes the real difference is the whole issue of trust.

Trust as many readers will know from my previous blogs, is founded on consistent repeated actions underpinned by sound moral and ethical values.

Peter Buckley

I coach and develop individuals and businesses, in the private and public sector, Internationally and in the UK at board C-Suite and operational levels. Acknowledged outstanding results delivered through bespoke individual and team coaching, mentoring and leadership development to enable performance and productivity improvement with positive team dynamics and sustainable enhanced morale.

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