McKinsey: Better customer experience is a key to boosting growth in industrial services
Summary
As a result, to expand services’ potential, OEMs will want to up their customer-experience game.” The compelling business driver, according to McKinsey, is the potential for these industrial companies to “boost services revenue by 10 percent or more—an amount that can translate to hundreds of millions in revenue for larger OEMs.” “To become more service-centric and improve the customer experience, OEMs have to do a better job of understanding what customers want and need,” McKinsey consultants wrote in a recent article*, entitled “How to boost growth in industrial services: Better customer experience”. Information from internal sources, so-called “field intelligence,” is invaluable, because it comes from those on the ground in closest direct contact with the customer. All the market research and competitive intelligence that lives in reports and other documents across the enterprise is fully integrated and searchable in one place, with search results returned in under one second. A company can create field intelligence input forms and an automated workflow that service reps can use to add information about the customers they work with into the knowledge management system. * McKinsey & Company’s article is one of thousands of thought-provoking pieces contained in Northern Light’s Thought Leaders Content Collection, available to SinglePoint subscribers directly from Northern Light, and to individuals and companies through Amazon’s AWS Marketplace and the Amazon Data Exchange.
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