by Catia Mondlane
With the market dynamics taking place where businesses are tending to be more virtual then physical, it seems that selling services is more promising than products or goods, because when one sells services it is actually selling something untouchable with little or no tangible requirements. This has got many wondering if moving from the provision of single products to continuous service agreements wouldn’t be more profitable, since the customers are provided with a range of models and a variety of solutions.
But if one chooses to shift to a services field, it is essential to consider that this requires changes in resources and capabilities in sales, customer service, customer training & after-sales. And all this should be built on solid data architecture to ensure optimization of the service operations once implemented where service agreements might bring unforeseeable risks and costs.
On the other hand, rest assured that the shift was already ongoing in many companies even before COVID-19. But now the process is accelerating, and depending on the type of business one is currently operating or chooses to start, this can improve predictability and create a buffer. This is because there is an opportunity to build “stickiness” and positive “lock-in” with personalized services where various rental and leasing models can be implemented, as well as insurance and financing services too.
Everything is about choices because the same way one chooses to shift from products to services, one can choose to implement both and improve the current business. If you already have a product that is good, you just have to improve ways to make it reach to one’s potential customers which is a clear opportunity to deliver broader service offerings while still focusing on own core activities
When difficulties arrive the easy way seems to be to grab as many people’s attention as possible. It’s simple because many fear and despair and this is where you notice the lack of confidence and focus on what they do. Unfortunately staying loyal to ones’ vision regardless of the tough times is a quality held by few, and it is already time for people to understand that there is no such thing as an easy business. Even if everything seems to be simple and beautiful on paper, the reality has shown the obstacles one comes across and challenging times are experienced by all, regardless of the field you choose.
Cátia Mondlane is the CEO & Founder of Isabella – Estética & Cosméticos, an innovative Mozambican cosmetic company that brings natural skin solutions based on locally sourced organic and fresh ingredients. Her brand is especially for people with sensitive skin and who want to be kind to their skin at affordable prices. She is currently based in Maputo, Mozambique.
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