Best Practices in Service Offer Development

Offered to Service Revenue Generation Members

This award recognizes the company that has demonstrated best practices in its portfolio of service offers.

Overview: What You Did

Provide an overview of your best practice at a high level. Details* might include, among others:

  • Business challenges that led to the best practice (e.g., decline in service revenues, drop in attach rates, shift toward cloud-based technology offering)
  • Strategy utilized to identify the change in customer needs in order to reposition your services portfolio (e.g. market analysis conducted, segmentation analysis, etc.)
  • The value proposition of your new portfolio versus your old portfolio
  • The actual changes made to your portfolio (e.g. addition of outcome-based service offerings)
  • Internal collaboration required to launch the new service offers to market
  • Organizational change management issues
  • Roadblocks or challenges faced, and how you overcame them
  • Lessons learned. What would you do differently next time? What can others learn from your journey?

Business Impact: How This Best Practice Has Helped Your Company

Describe how your best practice has impacted business outcomes for your company. Provide supporting evidence*, such as:

  • How the new service offerings contributed to service revenue growth:
    • Percentage of customers who have purchased the new services
    • Service revenue dollars associated with new service offering
  • How the new service offerings contributed to gross margin expansion (profitability)
  • How the new service offerings contributed to critical KPIs: renewal rates, customer retention/churn rates, attach rates, product/technology refresh frequency, technology upsell/cross-sell, technology consumption (i.e., reducing the consumption gap)
  • Cost savings

Customer Impact: How This Best Practice Has Helped Your Customers

Detail how your innovation has positively impacted your customers. Provide supporting evidence*, such as:

  • The value of your new service offerings in terms of business benefit/ROI to the customer (e.g. helping customers achieve their desired outcomes)
  • Metrics related to consumption of products/services
  • Impact on your customers’ businesses and/or on their customers (e.g., improved ability to respond to their customers’ requests, enhanced operational efficiency, inventory reductions, etc.)
  • Improvements in the creation and delivery of new products and/or product enhancements
  • Customer satisfaction scores
  • Customer testimonials

Judging Criteria

Your application will be judged on the following criteria:

  • The Pacesetter Factor of Your Application: Is your application based on a compelling “best practice” and/or is it truly “innovative” in today’s technology industry?
  • Business Impact: How has this helped your company?
  • Customer Impact: How has this helped your customers?
  • The Cohesiveness of Your Application: Is there a single, end-to-end narrative that is easy to follow and supported by good examples and/or data? (i.e., business challenges, inception, creation, implementation, adoption, measurement, expansion, process, results, lessons learned, future projections)
  • The Effectiveness of Your Metrics: Do the metrics that you included adequately support the story that you are telling and are they organized and presented well?
 

* These are suggestions only, provided to give an idea as to the appropriate type and level of detail. This is not a comprehensive list nor intended to limit your response in any way.