Service Era

“You want your customer to value your service” words from the corporate legend “Jeff Bezos”(Founder & CEO of Amazon). World consumer behaviour rapidly changing and customers nowadays focusing more on the service rather than the features. Service sectors including after sales service in the product industries also makes a great impact in purchasing behaviour of people. Nowadays customers concerned more about the services and rather than the features. In early 90’s people experiencing the technology as like wonder but now the technology changing day by day and people looks technology development as a normal and basic aspect in any products or services. Then what makes the difference? The answer for the question takes us to the title once again “Service Era”. Absolutely the services makes the difference in every purchase. The recent survey done to find the customers thoughts regarding the services providing by the companies and to identify the impact on purchase by previous service experience. The survey results show that the people especially the “younger” generation who’s average age is 25 concerned more about the services given by the companies. Though they like the features of the product the people are expecting the “Delightful” services nowadays. Customers not only need the products but also a great service after their purchase which makes them to go crazy for the purchase. Nowadays the corporate giants like “Reliance” also doing this as their main strategy. Below the chart shows the age of the people surveyed for the study:

The people in the above age group attracted mostly focusing on the service side of the product. More than half of the people expressed their interest towards the service segment of every products and services what they’re using. The chart shows that 55% of people concern only on the service what the company going to provide.

The companies nowadays providing the services which makes the customer experience to the delightful one. “Lenskart” providing the free eye check up with the demo experience of their spectacles which makes the customer to feel free to purchase the product more than any offers. Likewise They’re providing free home check-up which makes a great hike in their sales and proves that the people’s psychology marching towards the service side of the products more than the features.

The chart shows that the importance delightful service in the current world. The figure shows 58% person rated service as their first preference.

The trend which’s emerging is because of the rapid growth of the Online E-commerce sites which makes the people to look into the service components of the products. The below chart shows that the people mode of purchasing.

The people in current trend prefer the online shopping more than the physical stores. The services in the Online E-commerce plays a vital role in pulling the people towards their sites. The customer service in the online E-commerce makes their customers to stay loyal for their service brands rather than the product brands. The best customer service can make the “Average” customer into a “loyal” customer.

The above chart shows that the customer’s rating towards their recent customer experience. Which shows that the ratings mostly in the good phase followed by the very good and excellent phase.

Before a decade people in industries don’t even care about the customer service for their companies but now the trends are changing and most company owns their own “Customer service units” or outsourcing it to the other well known BPO’s and KPO’s.

This makes sense that the Service oriented Era has been already began and companies also preparing themselves for the change.

The below chart shows the impact on the buying pattern of the customer’s when they got a best or delightful customer experience.

The most people responded in a very positive manner when they get a good or excellent service. The delightful customer experience makes the customer to purchase again and again in the company or a product. Which makes them a regular and Loyal customers to the brand. Nowadays even MNC companies concentrating more on the service oriented promotions which makes their brand more favourite and special in the customer’s mind.

The chart shows that the people’s readiness to purchase a product.The 61.8% people responded to the question “Do you mind the price of the product if you get the good service” with the answer “No”. Which shows that the peoples readiness to get the product or service with an excellent service even there is a small hike in price.

As from the beginning of the survey people go for a purchase by keeping their previous service experience with the particular shops or brands or services. In the given chart we can see that 88.2% people responded for the question “Do you feel previous service experiences are impacting on your future purchases” with the answer followed “Yes”.

This clearly shows that the service element for the product is very much related to the sales of the products or services nowadays. The service is “Inevitable” for a product based company and too and the people expecting not only the service but delightful experience.

The companies like Amazon, Flipkart already captured the market by using the “Delightful service” as their strategy. I would like to quote a word from a customer “I purchase an wireless mouse from Amazon Recently.. Amazon services was very good they delivered my order on time.. I am living in Rural town where there is no access to stores or vehicles” The service like this makes a regular customer into a loyal customer.

Actually amazon was pioneer in this Era where they already established a great service experience to their customers. So the offers are no need to pull the customers towards them. Many other companies like “Bosch, Redmi and even Apple” started the journey in this path.

The lack in service will make the revenue of the company to the critical level even though the product is in benchmark segment. Those companies must review their servicing segment with their competitors services to regain their market in this “Service Era”.

The people who wish to start their own start-ups there’s a huge demand and the scope for the service sector in future and even the product based company should also look into their servicing pattern after sales. The start-ups should follow the MNC’s like “Amazon, Redmi” and Indigenous brands like “Lenskart, Maruti Suzuki and flipkart” as their path showers to get into this “Service Era”.

Finally the beginning of the “Service Era” is rapidly in a growing phase and every company focusing on the customer preference and kind of service they expect. Companies now preparing to give the unique service experience for each and every customer. Which makes the customers to stay loyal with their “Service” rather than the “Brand”. So people why you’re still waiting? hurry up and design your “Unique Customer Experience Service” for this “Service Era”.

(Comments and views are welcome)

-Bala Sri