Services - The Bugatti’s of Economy

Bugatti, the world’s fastest car, runs faster than any other car in the world. Similarly, services are the fastest drivers of the Economy. In India, the services sector contributes to about 55.39% of India’s GDP in the current financial year 2020. There has been an exponential increase in the growth of the service sector since the 1960s.

Services have occupied less number of people i.e., about 32% in 2020 and its contribution being at 55%+, it’s evident that no other sector can overtake its importance and need.

The facts which determine its need and importance are

1.    Influence  

Influencing the customer’s opinion by providing the right knowledge and helping the customer to solve their problems.

 

2.    Consistency and Commitment

Maintaining consistency in work improves us daily by at least 0.1% unknowing which would have improved us by 35-36% by end of a year and this improvement grows exponentially.

Commitment to do the task builds the discipline required for the perseverance of this never-ending process of improvement.

 

3.    Scarcity

The scarcity of the service determines its value. Imagine your car got puncher at night 1am, the Puncher repair serviceman might charge you Rs.500 which is 10 times more than the actual price.

 

4.    Reciprocation

There should always be a give and take the relation between the customer and the service provider. The service provider should not focus only on providing the service for what the customer has paid, rather focus on providing the best of his ability and convert him into a regular customer and he might bring in more customers. Top digital marketing agency in Bangalore should always think for the longer runs.

 

5.    Social Proof

Social proof determines the geometric progressive growth of service. If the service provider is authentic then the customer will surely return back.

 

6.    Belief

The belief of people that they are making others' lives better is the key. The strong the belief, the better will be the service.

 

7.    Innovative

A service can be done in 1000+ in various ways. Keeping the targeted audience in mind, Top digital marketing agencies should tryout various varieties for the same service and take the feedback to improve service.