MachIQ Blog

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The Product Manager’s guide for Smart Services (Part2)

Monetization strategies for smart services This is the second in a 3-post article series on Smart Services. You can read the first article on building a strong business case here. A challenge that a lot of machinery companies that we speak to are struggling with, is finding the right monetisation model...

The Product Manager’s guide for Smart Services (Part 1)

Building the customer business case for smart services: Starting with Why In this series of posts, I address service product management topics around building smart services - more specifically remote monitoring/predictive maintenance/prescriptive maintenance services for industrial machinery OEMs. Product Managers, in my mind, are mini-CEO’s of such offers and are...

The long-tail is where the next billion in service revenue is (Part 2)

In my last post, I covered the stakes in expanding the coverage of after-sales services to a wider customer base. Here is a Venn diagram that explains the current situation for the best run services businesses in the industrial machinery sector. Install-base services coverage Whom did we sell our machines...

The long-tail is where the next billion in service revenue is (Part 1)

      For the last couple of decades, as service revenue grew in importance, industrial machinery OEMs rightfully focused on their large named accounts. Adhering to the 80-20 principle in increasing penetration of strategic accounts has been hugely successful but as large customers start to consolidate purchasing, not only...

Field Service is dead (Part 2): Digitalising field services

In my earlier article, "Field Services Is Dead. Long Live (Digital) Field Services", I made a case for why machinery companies must continue down the digital transformation path, away from the traditional field services execution model. In this follow-up article, I explore the options available for companies that choose to...