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Blog : What Separates Service Market Leaders From the Rest of Us?

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What Separates Service Market Leaders From the Rest of Us?

By Tom Sweeny August 17, 2022

Have you considered what distinguishes market leaders from other companies?

The answer is simple: They have the maturity to execute and achieve results.

Remarkably, many companies lack the maturity in some essential capabilities.  This lack of maturity inhibits their ability to execute service initiatives and diminishes their ability to maximize service outcomes.

To be a technology services leader you must excel at the following six service capabilities:

  1. Strategy – The means to create a plan to describe what the service organization wants to accomplish and how it prioritizes initiatives and allocates resources to achieve outcomes.
  2. Programs – A portfolio of service programs to establish customer expectations and define how companies monetize service delivery.
  3. Team – The ability to organize the right people, in the right roles, to do the right things, cooperatively.
  4. Process – Defined activities and actions necessary to achieve desired service outcomes efficiently.
  5. Technology – Enabling tools to innovate, automate, and scale service delivery cost effectively.
  6. Insights – Defined service metrics, access to necessary data inputs, and the capacity to improve based on data analysis.

Service Capability Maturity Score

In a recent study we found that the overall maturity score across all service capabilities is 56%.

This means that the typical company has only slightly more than half of the capabilities of a market leader.

Median industry capability scores for each core service capability are noted in the chart below.

Many companies have well-established capabilities, others are developing, but few are classified as market leaders.

Do you have what it takes to be a service market leader? Find out now with an instant assessment.

 

How to Be Successful with Services

Delivering services leads to greater alignment between products sold and the value customers derive from using them, while subsequently decreasing the likelihood of customer churn and loss of recurring revenue.

This guide introduces the key factors for maximizing success with services including:
  • What it means to be successful with services.
  • How service contributes to business outcomes.
  • Metrics required to measure service performance.
  • Required responsibilities, organization, and collaboration.
  • Core service capabilities and maturity levels.
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