Make Solutions Your Solution to Growth
By Philip Dover (Babson College) and Julie Schwartz (ITSMA)
“A solution is a combination of products and services with intellectual capital, focused on a particular customer problem and driving measurable business value.”
– ITSMA’s Solutions Council
Is building better solutions a key part of your company’s plans to grow revenue?
In a recent study, 85 percent of technology organizations felt that their solutions business would be either “extremely important” or “very important” to the future of their company. In the same study, nearly two-thirds of the 133 sampled companies noted that they were generating at least 40 percent of revenue from solutions. A driver of this trend is the belief that sales of solutions win better margins than the sales of increasingly commoditized products, while also generating longer and more lucrative customer contracts.
For a number of years, we have conducted extensive research...
To read the full article and gain access to Babson Executive Education’s premium content, subscribe to Babson Insight by completing the form on the right. »
About the Authors
Associate Professor, Marketing Division
Philip A. Dover teaches Strategy and Marketing topics at Babson’s Executive Education (BEE) and courses on Strategic Market Planning in the MBA program. At BEE, he has recently led custom Executive Education programs on strategic market management and corporate entrepreneurship issues for major clients such as Waters, EMD Serono and Dräger. His preferred approach to working with such clients is to build a collaborative relationship, based on deep knowledge of company needs, a willingness to highly customize pedagogical materials, and a strong preference for action-based learning.
Senior Vice President, Research and Thought Leadership
Julie Schwartz oversees ITSMA's thought leadership development and custom research. She has authored numerous reports and articles on services trends, marketing, branding, and sales topics, and is a frequent speaker at industry events. Julie earned her Bachelor of Science degree from the University of Pennsylvania and her Master of Science in Management from the MIT Sloan School of Management