Consulting I Professional Services I Managed Services
Welcome to Service Economics
Effective service costs less.
In a world where customers have more choice than ever, standing still isn’t an option. Getting customer experience right enhances a business’s reputation and its bottom line.
Yet in a highly competitive environment this means service and experience improvements must be balanced with achieving cost savings and meeting regulatory obligations. The value of CX is clear to most but the path many organisations choose to deliver it is it by trying to be more efficient.
Trying to deliver efficient CX is damaging customer value, not enhancing it.
The world is full of efficient CX and most of it falls short of customer expectations and ironically costs much more than it should to operate. Efficiency is often the default approach that businesses follow by automating, outsourcing and other means of reducing service costs. Whilst well intentioned, efficient CX often ends up doing the wrong things righter and misses opportunities to remove service waste, avoidable costs and poor experience.
Efficient CX often:
designs services around internal business processes and structures
automates interactions that add little or no value to customers or the bottom line
feels sensible to product owners but is often confusing and frustrating to customers
is not fully informed by what matters to customers or employees tasked with helping them
Efficient CX isn’t working. Effective CX does and costs less to design and operate.
Businesses that create competitive advantage through CX-led design and continual service improvement can do so because they have a clear understanding of what matters to customers. This results in less baked-in waste, processes and IT designed around user needs and seamless end to end customer journeys. The shift from service efficiency to effectiveness translates into better services at lower cost - the holy grail of CX!
The good news is that it’s not hard to get started adopting effective CX. This is where Service Economics comes in.
We’re the smart customer experience company putting customer value insights at the heart of effective service design for consumer regulated businesses in the UK who need to improve service operations, revenue and operating costs, at a time of rising expense, rapid technology change and falling customer satisfaction.
We provide expert CX consulting, professional and managed services. We have over 25 years of experience with innovative tools and techniques that simplify the process of achieving change. Our approach is always results focused, sustainable, pragmatic, effective and systemic. The outcome: an actionable pathway to better, more effective, CX.
