As the name suggests, business services are those activities that support a company’s core operations. These include activities such as finance, insurance, software, telecommunications and management services. For example, a company may employ business services to help manage the physical location of their office, which includes hiring landscaping or maintenance companies to keep the property looking nice and tidy.
Another common business service involves providing employees with legal advice or training. The type of work involved in these activities can vary greatly and often depends on the industry. However, for many of these types of services, the most important factor in ensuring customer satisfaction is having knowledgeable employees. For this reason, companies often invest in training for their employees and use outside consultants to provide additional training.
Unlike products, which are tangible, business services are intangible. As such, they can be difficult to measure and are often sold based on customer perceptions of value. In this regard, the success of a business service often comes down to four factors:
As a result, it’s crucial for managers to know how to best design their service offerings to ensure that they meet and exceed customer expectations. This process, known as service design, starts with understanding the needs and goals of customers and other stakeholders. This information can then be translated into measurable and achievable requirements through various service design techniques. Ultimately, the goal is to create a service that’s unique and differentiated from competitors.