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...

Resilient field services

Machinery companies with a mature field service activity have perfected processes and trained service engineers to intervene proactively and rapidly to deliver their SLA's. The last 6 weeks have turned their traditional field service execution models upside down. As businesses re-emerge from the lockdowns, resilience will be the key word...