One of the biggest opportunities within the IoT is the possibility of transforming a company’s business model to offer a connected service, instead of selling an actual product. Typically, this means the company would charge customers per usage or delivered value instead of an upfront investment. There are many obvious benefits with this, such as attracting new user groups, the possibility of differentiating and dodging competition, deeper and longer relationship with direct customers, product development based on knowledge of actual usage, and much more.
But moving from product to services will mean that the entire company will be affected and will have to change in several ways. Taking the right steps and thinking through the implications of the new business model in a structured way will be critical to succeed.
Even if many companies are embarking on this journey, there are only a few that have gone through the entire transformation.
We have produced a guide with a comprehensive step by step model that takes companies through one of their most important journeys.
Download the report and find out about:
- The main benefits for businesses and their end customers when transforming from product to service.
- Key considerations and steps a company needs to think through to ensure they have addressed any area that will be affected by the transformation.
- Typical challenges that many companies face during the process and how to handle them in the best way.
- Best practices from successful implementations to help guide companies through their transformation.
- Actual case studies; how selected Telenor Connexion clients reasoned when taking the steps from a product to a connected service.
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