Chief Service Officer Priority for 2010: Service Revenue
As I look back at the recently completed Chief Service Officer (CSO) Summit hosted by the Aberdeen Group in Boston, it seems like the discussion at the CSO level has transitioned from pure cost cutting to unearthing service-led revenue opportunities. In fact, pre-polling of the CSO Summit audience revealed that revenue creation is the top aim for CSOs (as indicated by 31%) looking forward into 2010, more so than cost cutting and customer management. That’s not to say that these things aren’t important, but as the economy has pushed organizations to trim the fat, there isn’t much more trimming left to be done without cutting into value-added services. Therefore, to balance out the profitability equation, revenue is the next forefront where the service battle will be fought.
Obviously this has generated the need to develop and present some revenue-related research in Q4. I am currently launching a survey for a benchmark report on Driving Service Revenue to understand what leading companies are doing to boost the revenue contribution from their service operations, from pricing, to workforce optimization, to better contract management and beyond. Please feel free to reach out to me at firstname.lastname@example.org to get involved with the survey.
On another note, I will be moderating a webinar featuring FirstEnergy on The Three Ways to Boost Service Revenue. It will highlight some of the investments needed to drive a sustainable service business model, with an emphasis on revenue. FirstEnergy will provide us with insight on how the case for service was built within the organization and will highlight some of the most impactful investments that they have made to enable service sustainability.