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When Your Service Has Lost Its Service IQ

  2. What is service? The Nature of Service: • The service and the creator–seller of the service are often inseparable. • Services are variable or heterogeneous. • Services are highly perishable, cannot be stored, and the demand for services fluctuates. • So selling service requires the incorporation of some form of tangibility like issuing a membership card. SPONSOR: FOUNDERS UNDER 40 GROUP + BJ MANNYST 2 Definition: Services are distinguished offerings of intangible goods in exchange for monetary value or other value that satisfy customer needs or wants with intangible benefits.
  3. Ways To Succeed? Branding: Branding is not the most important aspect of service business however it is very crucial to get it right. The brand should be: • Good name, design and colors • Relevant and appealing • Unique if possible • Easy to pronounce and remember • Flexible and helpful to any additional services • Clear and understandable service description and benefits • It's what people say it is • For more branding best practice visit SPONSOR: FOUNDERS UNDER 40 GROUP + BJ MANNYST 3 Segmenting & Targeting: Service segmentation is fundamentally the same process as that for a physical goods, with two points of difference: customization of the service, and delivery of the service. Also what's important is fine-tuning the target customers you wish to serve. There are many ways to do this and it requires thought.
  4. Ways To Succeed? Sales Objectives: Services will need to be sold in a way that the customer sees benefits and value for a reasonable cost. Plus having a target sales goal can be great motivators. While being aware of industry norms. SPONSOR: FOUNDERS UNDER 40 GROUP + BJ MANNYST 4 Product/Service Objectives: There's always a need for focus on the wants, needs and perceptions of your consumers and the general public. Being able to design the service that meets the needs of your target and gets repeat business is still key. Market Analysis: Hopefully you and your team have ways to analysize the market conditions. Is it growing or dyeing? Global Environmental Analysis: The world is a global village and you are just another neighbor in neighborhoods. In today's world, regular research and assessment on the global environments is still very crucial if you wish to stay in business.
  5. Ways To Succeed? Community: Every business with a customer or fan should be building a community around themselves so they can learn and grow and help their community members do the same. Events: The need for offline experience is growing everyday. Companies like Amazon, Microsoft, Apple know it's also about securing the bond. SPONSOR: FOUNDERS UNDER 40 GROUP + BJ MANNYST 5 Content: The use of quality-relevant content to aid your inbound marketing is still very crucial to service companies of all size. Your companies content should be working to drive traffic and attention to you. Plus don't be afraid to spread some good entertainment. : } Consistency: If customers can't depend on you to be consistent, then you can wish all customers goodbye. Consistency creates loyalty and encourages others to gravitate to you. It also means you know what you are doing. Reliability: Customers expect products, and service providers to be dependable and precise. Most business owners wouldn't find it funny to hear their data in the cloud has been lost. Or to hear you've messed up their order for the eleventh time. Audits & Checkups: Possibly some form of regular checkup with all stakeholders on a quarterly basis. So you can see how well you are doing. BJ Mannyst team could take a look.
  6. Ways To Succeed? Consumer & Persona Analysis: Understanding the profiles of your customers is absolutely crucial. What their expectations and their pains are. Some people will have modest quality, price and after sales service needs and some need the very very quality, experience and support service. SPONSOR: FOUNDERS UNDER 40 GROUP + BJ MANNYST 6 Local Environmental Analysis: Conduct a local environmental analysis that looks at your local market and use the findings to build up your network of business contacts, knowledge of competitors and truly understand what customers want. Strengths, Weaknesses, Opportunities and Threats Analysis: Set time to update your list of SWOT for your business such as customer acquisition abilities, talent, cost effectiveness, service quality, technological, customer loyalty, etc. Thought Leadership / Be Visible: To be just another service provider, there's a need to project either very boldly or quietly your reputation and expertise. Because most people are buying services based first on some form of established reputation online or offline.
  7. Ways To Succeed? Advertising Examples: It doesn't hurt to have a good idea how you want to convey your image. Learn from others and turn it to your own. No one really wants another McDonald ad or a Samsung ad or an Apple Ad. Convey your uniqueness and benefits. SPONSOR: FOUNDERS UNDER 40 GROUP + BJ MANNYST 7 Position Analysis: Your positioning in the market place is crucial. It basically says what part of the playground you intend to play in. Are you in the high-end slides made with gold, the good enough slides, or are you in the cheap one- time-use poorly made slides? Demographics, Consumer Statistics and Budgets Analysis: If you don't understand the current and future demographic such as: populations, age, occupation, ethnicity, income, lifestyles, families, etc. . .in your market then you shouldn't be in the service business. Get Repeat business A service business without repeat business is not a business. Get the best service design, hire right, serve well, engage diversity. You as a service provider must make sure the buyer doesn't regret doing business with you. So always try to put your best foot forward.
  8. Ways To Succeed? Administrative Systems: Are essential to any group, community, nations ability to maintain order,focus and keep people accountable. Administrative systems are basically a set of rules and regulations that people who run an organization must follow. SPONSOR: FOUNDERS UNDER 40 GROUP + BJ MANNYST 8 Daily Operations and Production: Having a good idea of how your day begins and ends is a good way to manage your operation. Service of any kind is like operating a cruise ship. There are people with different roles and responsibilities who need to know what is expected of him / her. Main Competitors: Every business has competition even a monopoly might have little tiny competition. It still comes down to where else can people spend and meet their needs. Your competitor could be a new business offering a substitute or similar product that makes your own redundant. Market Tests: Your time and money are extremely valuable to you and your team so it could be a waste if you failed to test, test some more the need for your service.
  9. Ways To Succeed? Unique Value Proposition (UVP): In today's modern society customers are always willing to pay more for services if they feel it delivers on its promises that fulfill their needs and gives them unique experiences. SPONSOR: FOUNDERS UNDER 40 GROUP + BJ MANNYST 9 Competitive Advantages: Being aware of the competition is not a bad thing. It's a way to help you get better in life and business. However if you want to excel finding your competitive advantages is very important and a sustainable one, helps. Implementation: Everything about business or service or art still comes down to going through the ups and downs in the pursuit of accomplishment. Finance & Legal: Everything in business requires a good understanding of finance from debt, to crowd- funding, revenue, to equity financing with VCs. Legal is still essential in the game of service business.
  10. How far with mediocre? Conveying Expectation: • There will be times when the customer doesn't know enough but thinks they know everything. • There are times when your service delivery is not constant. • There will be times when your company might not be communicating your message properly. So it will be constantly crucial to communicate properly what you provide and what customers should expect. SPONSOR: FOUNDERS UNDER 40 GROUP + BJ MANNYST 10 Maintaining A Five Star Quality Service: If you truly want to be the best, you can't afford to settle for mediocre. It might be lonely being the Hussein Bolt of your industry but why would you want to be the tenth. Maybe just being the number one in your neighborhood is a start. Part of rising to the five star standard is truly understanding customer expectation. Avoiding Commodities: It will likely be ever more competitive in the service space and not just selling commodity is a great way to be more profitable. A constant ability to identify new product opportunities that solve problems and create new customer experience. Understand Service Lifecycle: There are services that will no longer be of value. Shoe repair man, TV repair, milk man, offline retail, etc.
  11. Technology in service? The Tools Needed: A service provider is going to have to become very good using numerous tools or outsource some task to a third-party or an A.I.A(Artificial Intelligent Agent). The following is a list of tools that will still require continuous use: SPONSOR: FOUNDERS UNDER 40 GROUP + BJ MANNYST 11 The reality: Technology in our lives are getting more smarter and with time we may become ever more dependent on them to keep us safe and alive. The smart technology we worship like saviors, are still going to still need the human touch. The driver-less cars, the flying cars, and IofT devices, robotics are still going to require a substantial amount of complimentary services from humans. It will be a continues evolution and adapting world for most service providers.However there's going to be higher demand for responsibility, fairness, privacy, accuracy and security.
  12. Technology in service? • Editing & Reviews • Data Analysis • Optimization • Relationship Management • Event Management • Security • Content Management • Automation Management • Legal Coordinator • Video Production • News & Trends Monitoring SPONSOR: FOUNDERS UNDER 40 GROUP + BJ MANNYST 12 • Social Media / Social Networking • Influence Marketing • Reputation Management • Collaboration Tools • Communication • Access To On-Demand Resources • Design & Creative • Promotional Goods • Document Management • Data Storage
  13. How to p's? Place Service Performed: There are some services that still need a brick- mortar location to perform service. You could lease your space, get a mobile setup like going direct to the customer. This also helps in selling services because people can get to see the equipment, feel the paper work, uniform, other goods to help,... SPONSOR: FOUNDERS UNDER 40 GROUP + BJ MANNYST 13 The thing about service is that it takes a combination of factors to get the perfect outcome. Part of the factors is getting the right marketing mix utilizing: price, place, promotion, people, process, personalized, etc Basic Pricing Methods: • Cost of product plus a percentage mark-up. • The price customers are likely to be prepared to pay. • Match what the competition charges
  14. How to p's? People On Your Team: Everyone from the front-line to the very top people most be great people who get the importance of service and customer service. The wrong people doesn't help you to keep customers, keep team members, keep leaders, etc. SPONSOR: FOUNDERS UNDER 40 GROUP + BJ MANNYST 14 Basic Promotion Methods: The promotion of your service is going to require thought. You can learn from others in the same industry or outside of it. At the end of the day, service is all about people so put your own personal touch. A unique touch that distinguish you from the crowd.
  15. How to p's? These elements of the P's, also known as marketing mix or variables, are controllable by marketers and are the key to attracting a specific target market. If you are an owner of a service business, be very knowledgeable of the marketing mix and how it influences purchases and perceptions. For further help, contact myself: SPONSOR: FOUNDERS UNDER 40 GROUP + BJ MANNYST 15 Process: Without a proper process you can't deliver the service properly daily. Commit to a standard process with some flexibility. See if you can incorporate the customers involvement. Have contingent plans for unexpected demands, emergencies, or slow downs.
  16. Want to be 5 star? Want Further Help: >Attract new customers >Save time and money >Boost sales >Create awareness >Content >Community >Design >Strategic >Tactics >And More..... VISIT: WWW.BJMANNYST.COM SPONSOR: FOUNDERS UNDER 40 GROUP + BJ MANNYST 16 5 Star: To achieve a five star effort in all aspects of your business, you'll need to pay attention to the overall detail of your operation. COMING SOON eBook: How To Become A Five Star Service Provider
  17. Using inbounding? Common Solutions: • Continue to nurture relationships with people after you close the deal • Focus content on answering questions and solving problems for your target audience • Deliver interesting, valuable information to customers with a consistent, relateable voice • Understand the importance of brand awareness and engagement • Utilize responsive design as a mobile-friendly solution to deliver a consistent experience for customers across devices • Invest more time in analyzing consumer data to better engage customers SPONSOR: FOUNDERS UNDER 40 GROUP + BJ MANNYST 17 Common Service Challenges: FILLING THE PIPELINE WITH LEADS FOR YOUR SERVICE BUSINESS
  18. Using inbounding? Common Solutions: • Utilize automated systems and tools to optimize customer data • Take a balanced approach to marketing with inbound and outbound initiatives • Be sure your email campaigns are personalized, branded, and high quality with engaging videos, motivating content, and related articles • You can sabotage your inbound marketing efforts if you direct them toward the wrong audience • First determine the type of clients you want and research their demographics to know which types of information they are looking for; then, create content specific to your audience’s needs • Prioritize converting website experiences into relationships SPONSOR: FOUNDERS UNDER 40 GROUP + BJ MANNYST 18 AD FINDING OTHER GREATE FOUNDERS TO HANGOUT WITH IS EASIER NOW. . .JOIN FOUNDERS UNDER 40™ GROUP
  19. Using inbounding? Common Solutions: • Respond to every review written online and encourage current customers to leave reviews of your service. • Begin by optimizing websites and including content search engines can find; save email marketing for later • Work more efficiently by generating leads to hand off to sales via website-traceable leads with content • Perform keyword research to identify key phrases and strategic ways to increase search engine result page rankings for each individual page on your website SPONSOR: FOUNDERS UNDER 40 GROUP + BJ MANNYST 19 Common Solutions: • Offer loads of valuable insights and advice on your website to demonstrate your knowledge and demonstrate that you can be trusted as a fiduciary • Be prepared for more information-savvy and selective clients and prospects • Engage consumers by making messaging customer-centric • Establishing yourself as a trusted adviser who shares advice via useful content • Measure the effectiveness of various inbound marketing strategies • Have multiple contact points across different channels. :
  20. Using inbounding? Common Solutions: • Create a Facebook business page to share your products and services • It is not enough to produce content; it must educate, inspire, and entertain your audience so that it can break through the clutter • FYI marketing is an overall long-term marketing effort • Make the process seem less like a sales pitch • Put more effort into email marketing than outsourcing your network to a social network • Build your own email database rather than purchasing one from a list brokering company SPONSOR: FOUNDERS UNDER 40 GROUP + BJ MANNYST 20 Common Solutions: • Build campaigns around addressing business challenges ideal prospects have • Base buyer personas on your own client information and industry data • Blogging is essential for growing business online • Downloadable content dramatically increases your lead flow • Social media builds your reach online • Ensure you have a clearly defined target market
  21. Using inbounding? Hope That Was Helpful in getting the service back in your service and if you need help FILLING THE PIPELINE WITH LEADS FOR YOUR SERVICE BUSINESS, GIVE, BJMANNYST.COM, A SHOUT! CHEERS!!! SPONSOR: FOUNDERS UNDER 40 GROUP + BJ MANNYST 21 Common Solutions: • Define your branding by telling your story and controlling content with consistent messaging • Get your business cards into the hand of anyone who can help you • Attend meetings of professional groups, • Pay for membership in those groups that attract your target customers. • Become actively involved in 2 or 3 of these groups. • If your product or service is appropriate, give demonstrations • Offer a free, no obligation consultation to people you think could use your services.
  22. SPONSOR: FOUNDERS UNDER 40 GROUP + BJ MANNYST 22 For further help with your service business, contact Manny via or HOPE YOU ENJOYED THIS!! ***This material has been prepared for general informational only and is not intended to be relied upon as specific professional advice. Please refer to your advisers.The views of third parties set out in this publication are not necessarily the views of BJ Mannyst Copyright © 2017 Emmanuel “Manny” Omikunle & BJ Mannyst. All rights reserved.. BJ Mannyst™, its logo, and “Serve, Engage, Undo- Ordinary™” & Founders Under 40™ Group are trademarks of BJ Mannyst.