Standardised, bundled services allow service providers to demonstrate value in an effective, cost-efficient and straightforward way. Offering predetermined tiers (typically Bronze, Silver, Gold) that respond to different business objectives, deliverables and budgets simplifies the workload for the service provider and leads to greater productivity and profitability.
Providing an enhanced customer experience and having the ability to scale with ease (without increasing staff expenditure) comes down to having the correct means to monitor and report on as many aspects of a customers’ infrastructure. By accomplishing this from a single solution, there is a seamless productivity gain resulting in quick and proficient troubleshooting without discrepancies, time wasting, and finger-pointing. No longer do teams have to waste time in researching the best course of action across several different solutions but rather they can become experts in what they do provide; specialising in advising customers on service improvements and future proofing evolution.
In doing so, service providers become stickier, strategic partners who earn trust and convert short term customers into loyal ones who are likely to stick around and spread the good word about their services and experiences. In a highly commoditised industry where standing out from the crowd is tough, word of mouth recommendations are in the service provider’s best interest as they are rare and extremely precious.
Standardised services also simplifies both the sales and billing process for service providers. Usage-based billing slows down the sales cycle and ultimately business growth. With comprehensive bundling, sales representatives can enter sales engagements confidently with a clear perception of services and prices; individual quotes do not have to be built from the ground up. This pricing model has a direct impact on billing as customised bills are no longer necessary, reducing the chance of invoice errors overall, making administration simple and streamlined.
The benefits don’t just lie with the service provider, however. Customers find it easier to allocate budgets for bundled services since they are a recurring, operating monthly expense as oppose to break/ fix billing. Moreover, money is saved since service providers offer packages at a reduced rate in comparison to purchasing the same services individually. While it may initially seem like an extensive cost, the advantage is realised early on, particularly when the service provider can put the customer’s mind at ease by delivering a consistently reliable service and offer continual, proactive expert advice.
This is part two of a two-part blog series. Read part one here.
- Written by Farrah Aslam
- Published: 05 February 2019