The Internet of Things is about far more than connectivity in automobiles and homes. Best-in-class service companies, already long-focused on optimizing the customer experience, have turned to IoT to make further improvements. The result has been a 12% increase in worker productivity over a 12-month period. So how are these service companies making the most of IoT technology?
74% of best-in-class service providers focus on serviceable assets and equipment
First and foremost, best-in-class service companies know that customers are most concerned about remaining operational. Therefore, they focus their attention on measuring parameters that ensure minimal disruption to customer operations: In fact, 74% of the best-in-class service providers focus on serviceable assets and equipment. This includes measurements like a device’s uptime, the availability of parts, remote diagnosis of problems, and the amount of time spent on site. By tracking these parameters, service providers are able to stay on top of potential issues and address them immediately, if not preemptively. This prevents delays and downtime for customers thus improving customer satisfaction and retention.
Best-in-class service companies use IoT technology to track a device’s functionality in order to ensure sustained customer satisfaction
However, best-in-class companies don’t stop with serviceable assets. They are also far more likely to use IoT technology to track a device’s functionality in order to ensure sustained customer satisfaction. They measure aspects like output and uptime to evaluate productivity. And they go one step further by keeping track of diagnostics information, the number of operations performed and even a machine’s temperature. Knowing all these statistics facilitates predictive maintenance. By detecting potential mechanical failures and addressing them before they become a problem to customer operations, the best-in-class service provider has taken customer service to the next level.
Best-in-class service providers give customers the feeling that their success is an important KPI
Unlike other service companies that often use IoT data to their own advantage, best-in-class service companies remain customer-centric. They use IoT to integrate customers into the service experience making it possible for them to steer the service process to meet their needs. They help customers address problems on their own so as to avoid time and money lost on unnecessary service calls. They assess the data to guarantee that service-level agreements are being adhered to and customers are getting what they paid for. In short, best-in-class service providers give customers the feeling that their success is an important KPI.
Best-in-class companies have shown that a customer-centric approach yields the most profit
Most importantly, best-in-class companies have shown that a customer-centric approach yields the most profit. The data across the board is proof that concentrating on customer relevant parameters reduces costs, increases uptime, ensures compliance with service-level agreements, decreases superfluous field service calls, increases the first-time fix rate and generally leads to greater customer satisfaction and retention. Everyone wins!
Source: Aberdeen Group: Iot And Field Service: Leveraging Connected Devices To Provide Exceptional Service, Tom Paquin, Research Analyst, Retail & Consumer Markets, March 2017