Just as CRM technology was designed to help manage customer relationships, the IoT is spawning new business practices centered on product relationships, and a new exciting way to help companies manage these relationships.
In this webinar, we introduce Product Relationship Management (PRM) as the new emerging system for better managing a connected product company’s relationships with its customers, partners and vendors.
Join us to learn:
• Key benefits to implementing PRM and how it will transform the way companies manage connected products
• How companies are using PRM for competitive advantage
• How will PRM complement CRM and ERP systems
• How to transform your business, department by department, with PRM
• Where to get started
Presented by:
Ray Wang
Founder & Chairman
Constellation Research
Guy Courtin
Vice President & Principal Analyst
Constellation Research
Matthew Duffy
Vice President, Marketing
Xively by LogMeIn
2. Speakers
Ray Wang
Founder & Chairman
@rwang0
Matthew Duffy
Vice President of Marketing
@MattDuff
Guy Courtin
Vice President & Principal Analyst
@gcourtin
3. 2
52% of the Fortune 500
firms since 2000 are
gone
5. “A digital divide exists between
the organizations who have
built digital business models
and everyone else.” (2013)
6. Tech convergence powers digital disruption
Mobile Social Cloud Big Data IOT
3D
Printing
Design Thinking Inspired User Experience
7. Within the next four years, there will be more
connected “things” than PCs, Smartphones,
Tablets, and connected TVs combined.
Personal Computers
(Desktop and Notebook)
Smartphones
Tablets
Internet of Things
Smart TVs
Wearables
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013E 2014E 2015E 2016E 2017E 2018E
Exponential Growth of the IoT
8. Perfect Storm for IoT
The perfect
storm for
IoT
emerges
Computational
power
Connectivity
Cloud
technologies
10. “We move from selling
products and services to
keeping brand promises in an
attention economy.”
11. • Product companies give away
product for service revenues.
• Service based businesses sell
experiences at varying price points
and service levels.
• Experience based businesses selling
business models
• Business model companies sell
peace of mind.
10
IOT and digital accelerates business model transformation
14. 13
GE Power knows when a transmission line will go down 8
to 10 days before it does
15. Companies are making it real
12%
39%
29%
20%
No Interest
Loger term interest/still learning
Planning to deploy IoT within 2
years
Actively Using IoT
Source: Xively/Machina Research
17. Virgin’s New Connected Boeing 787
“Literally every piece of that plane has an
internet connection, from the engines, to
the flaps, to the landing gear.”
-David Bulman, Virgin Atlantic IT Director
18. But it’s not easy to manage
"The challenge is what do you do with that
amount of data when you are getting
terabytes of data a day off your various
airplanes? We are getting to the stage right
now where we cannot deal with that much.”
“If you are talking that level of data you
can't just chuck ten disks into your data
centre anymore, you have to look at cloud
based solutions and how you can store
data.”
-David Bulman, Virgin Atlantic IT DIrector
19. So How Will Companies Create These
Connections & Manage the Inflows of Data?
PRODUCT
COMPANY
Connection
Data
20. CRM Systems Are Mostly Built to Handle Small
Quantities of Heavy Data
CUSTOMERS COMPANY
23. Besides security, the FTC's reports identify
three additional areas that companies
should focus on: data minimization, notice,
and choice.
Data minimization means that companies
should protect their users' privacy by not
collecting any more data about its customers
than is necessary. Limiting data collections
helps reduce the chance that unauthorized
parties will access private information about
customers.
The FTC wants all your internet connected
things to be secure
Sources: 1. Machina 2. Intelligent Office & Google, 3. Forrester, 4. Gartner
The IoT will account for an increasingly huge number of connections: 1.9 billion devices today, and 9 billion by 2018. That year, it will be roughly equal to the number of smartphones, smart TVs, tablets, wearable computers, and PCs combined.
Read more: http://www.businessinsider.com/growth-in-the-internet-of-things-2013-10#ixzz34Esn5FeL
Can you imagine three years ago?
Fortune 500 Firms in 1955 vs. 2011; 87% Are Gone
52% of the Fortune 500 firms since 2000 are gone
2010 – Blackberry’s had a 45% market share vs Apples’ 25% vs Microsoft’s 15% vs Android’s 7% vs Palm’s 5.7%
This is a seemingly innocent question. But to truly answer this question, you have to Imagine what’s happened in the past 24 months. Raise your hands if you felt in control or any semblance of control over your profits, revenues, idea creation, new products were introduced, collaboration points, your community, or customer experience? Were you able to effect and affect change? Did you have the right tools to create the conditions to manage the change ahead?
Now put yourselves in the mindset of an enterprise or brand. How can you improve your business outcomes?
Why do I ask this? Well customers no longer buy technologies. They no longer buy software. They are buying outcomes from you. That’s what they want. Peace of mind outcomes.
The Bottom Line: Digital Darwinism Is Unkind To Those Who Wait
Unfortunately, in almost every segment, the top three competitors control 43 to 71 percent of the market share and 53 to 77 percentage of the profits. In the technology space only 80 companies since 2000 have made the billionaire’s club. Meanwhile, intense competition, short-term shareholder and management thinking, and minimal investment hamper the pace of investment and innovation required by business leaders to survive today’s competitive landscape.
While boards have not been complacent about addressing change, the past five years have shown the difference between those who invested in digital transformation and those who have not. The corporate digital chasm is massive among market leaders, fast followers, and everyone else. Astute board members realize they must invest in transformational change for face a vicious Digital Darwinism.
Apple vs Blackberry
Amazon vs Borders
Netflix vs Blockbuster
Cloud – impacting business model
Data – not just “big” data
IoT – extending the customer relationship
3D printing – moving beyond prototyping
The disruptive technologies that impact the enterprise have come from what we’ve all known as the consumerization of IT. These consumer forces will impact the enterprise well into the next decade.
Mobile is about the interface. How many of you have a smartphone. 2. 3. okay, everyone look around you, those are the real geeks in the room!
Social – network and who we engage – how many of you are on twitter? Facebook? Linkedin?
Cloud – information store
Big Data – that’s the brains
Video/ UC – that’s how we share, interact
Sources: 1. Machina 2. Intelligent Office & Google, 3. Forrester, 4. Gartner
The IoT will account for an increasingly huge number of connections: 1.9 billion devices today, and 9 billion by 2018. That year, it will be roughly equal to the number of smartphones, smart TVs, tablets, wearable computers, and PCs combined.
Read more: http://www.businessinsider.com/growth-in-the-internet-of-things-2013-10#ixzz34Esn5FeL
Buying behavior, evolving pricing strategies and industry benchmarks
What are the customer buying patterns for CES and CES services?
What are the Key Vendor selection criteria across various service offerings?
Any suggestions to segment and target our customers better in general; lessons from recent deals that the market has witnessed, that we can leverage?
What are the various pricing strategies in the CES space and how are they evolving –especially outcome based?
Mobile plays a key role
Google maps w/ trafffic
Tracing and package order satus
Crowdsource pricing
Paryoll data
Ad platforms – sentiment
Contnend delivery entworks
Differentiated Business Offerings – New business models abound everywhere.
Drive demandAugment demand with contextual relevant informationCreate new service offeringsReal time traffic updates are another add-on
Increase customer satisfactionbuild networking opportunities, add a new touch point of engagementIntroduce a low cost modeltake out the middle man, deliver the information direct and tailored
Information Brokering
Information, either raw or processed, can be sold as a product or service.‘Raw’ informationStock quotesAnalysisTesco for example, is a retailer which sells customer preferences derived from its loyalty programme to third parties (other retailers, FMCG producers).
Information Platforms
Information can also be used to create a platform which is used by targeted audiences. This platform can be offered to third parties who can use this to their own benefit.Market placesCreate lead gen oppsDealmakeruse information to connect dealsAdvertisingGlam Networks. Facebook for instance offers advertisers tools to profile customer groups based on the content of their posts, which enables them to target preferred audiences.
Sources: 1. Machina 2. Intelligent Office & Google, 3. Forrester, 4. Gartner
The IoT will account for an increasingly huge number of connections: 1.9 billion devices today, and 9 billion by 2018. That year, it will be roughly equal to the number of smartphones, smart TVs, tablets, wearable computers, and PCs combined.
Read more: http://www.businessinsider.com/growth-in-the-internet-of-things-2013-10#ixzz34Esn5FeL
NHTSA – V2V could reduce accidents by 80%
World Health Organization (worldwide)
50million injuries
1.2 million deaths
More than 20% of vehicles sold worldwide in 2015 to include embedded connectivity solutions;
More than 50% of vehicles sold worldwide in 2015 to be connected (either by embedded, tethered or smartphone
integration);
Every new car to be connected in multiple ways by 2025.
- GSM Associates
http://www.computerworlduk.com/news/infrastructure/3433595/boeing-787s-create-half-terabyte-of-data-per-flight-says-virgin-atlantic/
With RFID tags to track cargo and, in the future, baggage, large demands are being placed on the airline’s IT infrastructure. According to Bulman a scalable cloud solutions will be required to deal with the increase in data, which the company has seen double in the past two years, a rate that is likely to quicken in the future.
Sources: 1. Machina 2. Intelligent Office & Google, 3. Forrester, 4. Gartner
The IoT will account for an increasingly huge number of connections: 1.9 billion devices today, and 9 billion by 2018. That year, it will be roughly equal to the number of smartphones, smart TVs, tablets, wearable computers, and PCs combined.
Read more: http://www.businessinsider.com/growth-in-the-internet-of-things-2013-10#ixzz34Esn5FeL
Sources: 1. Machina 2. Intelligent Office & Google, 3. Forrester, 4. Gartner
The IoT will account for an increasingly huge number of connections: 1.9 billion devices today, and 9 billion by 2018. That year, it will be roughly equal to the number of smartphones, smart TVs, tablets, wearable computers, and PCs combined.
Read more: http://www.businessinsider.com/growth-in-the-internet-of-things-2013-10#ixzz34Esn5FeL
Sources: 1. Machina 2. Intelligent Office & Google, 3. Forrester, 4. Gartner
The IoT will account for an increasingly huge number of connections: 1.9 billion devices today, and 9 billion by 2018. That year, it will be roughly equal to the number of smartphones, smart TVs, tablets, wearable computers, and PCs combined.
Read more: http://www.businessinsider.com/growth-in-the-internet-of-things-2013-10#ixzz34Esn5FeL
Designing new experiences
Developing a culture of digital DNA
Applying new technologies to existing infrastructure
Moving to data driven decisions
Co-creating and co-innovating with new partners