Driving Process with Digital Services

Digital Services provides business the ability to offer more than a single tier offering.  Customers want flexibility and access to all offerings, and they need you to have the digital footprint to meet the customer demand.  Companies who want to grow should consider the Internet of Things (IoT) to:

  • increase recurring revenue using subscription options
  • increase enterprise value
  • enter new market segments
  • differentiate product offerings
  • meet customer demand
  • increase efficiencies

This can be done considering three things:

  • How to acquire new customers
  • Monetize by either upsell to new features or increase prices
  • Retention of your existing base

We have seen restaurants offering family packaging of meals. This is a great way to control inventory.  Online sales from places such as HelloFresh captured stay at home self-service which prompted grocery stores to enter a new market of sales and delivery.   We are all learning from others in the market. Finding new and improved ways to deliver greater value at a perceived lower price is the sweet spot for your customers.

Here are some tips to doing this well and upgraded your digital services:

  • Stay competitive in your pricing based on the value of your product and services
  • Streamline acquire process
  • Get paid with accurate billing and fast cash settlement of account
  • allow the customer to nurture their account with access to change and update their subscription or information
  • iterate.  Be ready to be flexible in pricing and packaging as your fulfillment and logistics are forming
  • Scale.  Support growth and flexibility in commerce, billing, finance, and fulfillment.  Never over promise and under deliver
  • set up metrics to understand what is making you money and what is killing your profits
  • Ask for feedback to improve your process
  • Find a professional to set up your online presence.