Service and Customer Retention

The digital transformation of our business world is opening up new opportunities for companies to find and retain customers. A customer-focused strategy is a critical success factor and one that will also shift the operational focus toward service. After all, good service builds customer loyalty. Technical customer support has always been a key strategic business area. However, when combined with digital solutions (smart solutions), B2B service can evolve into a valuable sales channel or even a digital business model in its own right. Today, if companies do their homework, they can use digital service solutions to offer long-term added value for its existing customers while also tapping into new growth markets. Industry 4.0 is transforming the way in which companies generate value. Modern customers expect much more than they used to—in both the B2C and B2B sectors. Nowadays, problems and their disruptive effects are recognized much more quickly and must be rigorously avoided. For provider companies, this poses a challenge—but also an opportunity! However, companies can only take advantage of this opportunity if they are generating perceptible added value for their customers; that is to say, if they remedy problems immediately or prevent them from arising in the first place. Despite this, most digitalization projects being implemented in the context of Industry 4.0 are only focused on improving efficiency (Staufen AG, Deutscher Industrie 4.0 Index 2019 – Eine Studie der Staufen AG und der Staufen Digital Neonex GmbH, 2019). And while this is obviously a worthwhile endeavor, it is also one that the customer typically doesn’t see.