3 Roadblocks in Launching After-Market Smart Services
Today's cloud-connected products generate data streams that can be captured, combined with other data, analyzed and utilized to create a new generation of responsive and predictive aftermarket "smart services."
And it's no mystery why virtually every product organization is looking for ways to grow the aftermarket portion of their business. In verticals as diverse as appliances, home electronics, industrial machines, automobiles, mobile phone technologies and IT hardware, companies are expanding their offerings to include aftermarket services like break-fix repairs, hardware installation and (increasingly) software upgrades, reconditioning existing equipment, day-to-day maintenance (proactive and reactive), and technical support, consulting and training.
Smart services can help. Here’s how: Smart services disrupt traditional business models, drive organic growth, generate new revenue, enable the introduction of subscription-based models, and improve both customer experience and customer engagement.
But smart services can be difficult to develop and deploy. And there are three challenges that, if not handled properly, can cause the initiative to be unsuccessful: