RoundTable Report on Customer Centricity and Monetization: How Do Agile Billing Platforms and IoT Help Modern Companies Engage Customers and Generate New Revenue?
On June 27, 2019, with our partner keylight GmbH, LogiSense hosted a roundtable discussion at the Platzl Hotel in Munich, Germany to bring together senior executives and decision makers from some of the largest and most innovative global brands, including Siemens, SAP, KraussMaffei Technologies, Cisco Systems, Burda Magazine, IHSMarkit, Tata Communications, and Thycotic, to discuss: “How do agile billing platforms and IoT help modern companies engage customers and generate new revenue?”
The roundtable kicked off with presentations from Adam Howatson, CEO of LogiSense, and Dr. Marco Sarich, CEO & Founder of keylight discussing trends, challenges and opportunities around IoT, Digital Transformation and Industry 4.0.
Adam Howatson summarized factors that are affecting monetization and personalization in the industry, including acknowledging that subscriptions are important, but they have now become table stakes.
Focusing on “Subscription Business Models as a Key to Sustainable Business”, Marco Sarich spoke about his practical experience building business platforms for companies of various sizes and industries, including how the subscription platform is currently one of keylight’s most requested products that many entrepreneurs see as an extremely promising business model for volatile digital markets.
Building on the presentations, the group turned its attention to answering the question of how modern companies leverage digital automation, AI, agile billing platforms and IoT to help engage customers and generate sustainable new revenue streams. Below are key takeaways from the discussion:
Usage and Subscription
- Companies’ transition from transactional sales to usage or subscription platforms is an evolution rather than a revolution.
- A successful subscription business requires a unique company culture, which is best developed in a flat company structure with seasoned subscription professionals.
- To be successful in the digital economy companies need to build customer relationships that deliver better value
- Customer-oriented culture is key to delivering sustainable value in a digital marketplace
- Customer relationships need to be two-way to be effective, which requires a shift in thinking for the company - and the consumer
- Establishing and maintaining trust is key
Big Data and Customers
- Modern portals are a gold mine for AI and Customer Analytics because they provide companies a way to easily manage digital subscriptions.
- Harmonizing technology and business is a critical factor for success. This is particularly apparent in large corporations, where a hierarchical structure can hinder direct communication.
- Every customer interaction is an opportunity to up-sell
Keep It Simple
- Simplicity is a core virtue of digital services that can decide the death or survival of a business.
Engage Customers, Generate Revenue
- Business is still about keeping people happy, and giving them what they want before they know they want it
- Service individualization and flexible service portfolios are very hard to archive, yet the benefits of doing so are clear and the journey is rewarding.
It was a great event, we had a lot of fun, it was a very interesting discussion with some wonderful people, and we learned lots. We thank everyone who came out (despite the heat wave!), and look forward to our next roundtable event.
For more information or to discuss how keylight and LogiSense can help your organization engage customers and generate new revenue, contact:
Oliver Viel, Head of Marketing | keylight
email@example.com | Kantstrasse 24 | 10623 Berlin | +49 152 3358 1151 | https://www.keylight.de
Drew Maddison, Channel Manager | LogiSense
firstname.lastname@example.org | 278 Pinebush Road, Suite 102 Cambridge, ON, N1T 1Z6 | +1.519.249.0508 | https://www.logisense.com