Consumers are informed and savvy when it comes to their purchasing choices. They have more information than ever before to help them make purchasing decisions. They are accustomed to, and expect, regular interaction with companies. We live in a service economy and in most western countries, service accounts for more than 75% of GDP – a share which will continue to increase in the coming years. Service is therefore important for all types of companies, because they now compete primarily on the service that they provide. In fact, most profitable strategies are increasingly being built on service differentiation: offering customers something they value that competitors don’t have. Therefore, a company has the opportunity to differentiate itself at every point where it comes in contact with its customers—from the moment customers realize that they need a product or service to customer’s entire experience with a product or service- in shops, in contact centers, over the Internet, and via mobile devices. Hence companies are evolving strategies to turn service design differentiation into a competitive advantage.
It is no longer enough to just have well designed products and experiences; as they also need to be relevant, memorable and be delivered efficiently. Service delivery is the Holy Grail of a memorable customer experience. This is also true for those companies which traditionally have relied on manufactured goods for their profit. But design is not limited to just products, as customers are looking at the service element as the key differentiator. This service competition means that all companies must take a service perspective when formulating their customer value proposition. This is true for most types of companies: a hotel, a department store, the local supermarket, an airline company, a bank and of course a global facility service company.
Service design as a concept is increasingly being applied to banking services to generate better results. It is self-explanatory that customer satisfaction is a crucial parameter for this industry to retain their customers. Banking services stops not only with the websites. It is among those sectors which have different delivery channels from In-person dealing to Internet banking, Mobile banking, ATM etc. Here the key emphasis relies on designing branches, online banking systems and also customer experiences. New technology and renewed IT landscapes play an essential role in enabling service design in retail banking. A great service management model is built on a thorough understanding of what creates value for the customer and how the organization can engage its employees in the delivery process. This principle holds true across various sectors, be it banking, retail, lifestyle, consumer goods or healthcare.
Tata Elxsi, the leading global design company strongly believes that well designed and efficiently delivered customer experiences enable business success for brands across sectors. Together with its esteemed clientele, the company simplifies and enhances service value by, creating meaningful interactions, spaces and products. Tata Elxsi has a keen eye and skill for analyzing problems, identifying opportunities, improving processes and creating unified solutions. The company is well equipped to create a breakthrough in the field of service design with its capability to devise an integrated approach to customer engagement by considering all possible interactions and touch points, leveraging traditional resources and creating new opportunities. Tata Elxsi’s multi-disciplinary design approach enables the company to create a unified design solution, driven by the business purpose; generating real benefits.
In this regard, we would like to schedule your meeting with Mr. Narendra Ghate, Chief Designer, Tata Elxsi, who could share key insights on this emerging design discipline, its adoption in developed markets and its evolution in India. He could also share perspectives on how Tata Elxsi plans to leverage the immense potential that the country holds, to create an environment for well-designed and efficiently delivered customer experiences that could potentially offer brands true differentiation and help achieve business success.