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Supercharge Your Services

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Supercharge Your Services

Seven Innovation Lessons from the Pros

Boston Consulting Group,

5 min read
5 take-aways
Audio & text

What's inside?

Create a winning service business using seven tips from market leaders.

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Editorial Rating

8

Qualities

  • Applicable

Recommendation

Many companies now recognize that the addition of services to their portfolios is a means of creating closer relationships with their customers. However, not every company invests the time and attention necessary to maximize its gains from offering services. In this report, Zhenya Lindgardt, Sam Ridesic, Peter Lawyer and Olivia Morrissey from the Boston Consulting Group argue that businesses should treat services as independent business units. To guide companies in designing successful service verticals, the authors present seven lessons gleaned from winners in the service sector and provide real-world examples for each lesson. getAbstract recommends this report to company executives, strategy consultants and anyone who wishes to understand the dynamics of today’s business environment.

Summary

New companies with entirely new business models are challenging traditional businesses. Many products become more and more alike, which makes offering value-added services even more vital for many product-based companies. Apply the following lessons from top service companies to increase the value of your product line:

  1. “Track erosion of your value proposition” – When your company can no longer compete on product features alone, services can increase your customers’ loyalty. When PetsMart, for example, realized that its promise to offer the ...

About the Authors

Zhenya Lindgardt is a senior partner and managing director of the Boston Consulting Group, where Sam Ridesic and Peter Lawyer are senior partners and managing directors and Olivia Morrissey is an associate.


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