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Service Innovation

The importance of innovation for Service companies

Commoditization is the biggest enemy of modern businesses – for both products and services.

Empowered by the internet, customers are more informed, more demanding and have more choices than previously. This means that service based companies must innovate continuously to stay ahead of the competition. Customer-led innovation has become the growth engine of the service sector.

Organisations that can provide unique and engaging user experience will be rewarded with customer loyalty and profitability – the keys to survival in these demanding times.

Service innovation is important for commercial and public sector organizations, and for B2C and B2B businesses alike.

How can service companies innovate?

We define innovation as new business creation which does not necessarily involve technological change. Thus service based companies can innovate by

  1. Developing new services
  2. Adding additional attributes or benefits to existing services
  3. Providing existing services to new client groups
  4. Finding easier cheaper ways of doing things
  5. Streamlining and improving the customer journey

Examples of service innovation

  • An insurance company develops a car insurance offering that allows one policy to ensure all the cars in the family
  • A restaurant redecorates to provide a unique and exciting experience for diners
  • A law firm develops its marketing and customer service approaches to provide a unique and caring experience

Case Studies:

Hotels (Waterfront Hotel Hull)
Solicitors (Wake Smith, Sheffield)
Accountants (Ian Thompson, Sheffield)
Banks (Barclays)
Insurance companies (Zurich)
Designers (Glo.) >>
Colleges (Joseph Priestley, Leeds)Training companies
Freight forwarders >>
Employment and training group >>

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