INDUSTRY INSIGHT: Industrial

SERVITIZATION: WHEN SERVICE AND PRODUCTS MERGE

To manage among the international competition it is no longer enough to have a good product. The companies that are doing best are the ones that intercept the customers needs and convert them to a combined solution to the customer. The servitization agenda is the key to profitable growth, now and in the future.

Industrial enterprises traditionally have competed with the physical product. Vestas became big by producing effective high quality windmills and Grundfos became a global enterprise by making the world’s best pumps.

The products are still important, but they cannot stand alone. The international competition has caused that there always is a company somewhere in the world, who can make a product that is almost as good for significantly lower price.

If you want to manage in the competition, it is therefore necessary to be the company that are best at understanding and solving the customer’s problems. This way the product becomes part of a comprehensive delivery, where counseling, service, maintenance and implementation together plays an equally important role as the physical product.

This agenda – servitization – means, that Danish industrial enterprises have to put focus on some of the same things b2c companies have focus on: Customer relations and the ability to deliver good customer experiences across their contact points.

This competition parameter is suddenly a necessity. The innovation agenda has also changed. From being about product improvement, innovation has become about the ability to understand the customer’s needs and convert them to a comprehensive offer.

Currently, Wilke already counsel big Danish companies about how you make good customer relations to a part of your DNA and that the things that earn you money, just like we help some of the biggest Danish industrial enterprises by putting focus on goal-oriented innovation.

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