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Executive Service Roundtable:

New Value Propositions with Data

How to succeed with new – data-driven value propositions? 

Join our Next Executive Service Roundtable about "Winning Strategies for Service Transformation and Growth"

A few notes from the discussion sessions
  • The need to expand your portfolio of offerings.
    • Maintenance services are still core for most companies.
      With data, there is a lot of opportunities to improve value:
      • If uptime is already above 90%, there probably is not much opportunity to improve uptime in a viable way. Cost may increase exponentially, and how much will your customers be willing to pay for a few more percent points?
      • Value drivers could be:
        • More predictable downtime, enabling better planning of downtime and operations.
        • Reducing the cost of maintenance by improving efficiency and productivity through planned and predictive maintenance as well as better upfront diagnostics and planning for maintenance jobs.
      • Operational data can enable high-value operational performance improvement services.
        • Capturing and processing timely performance data of the entire process.
        • Helping your customers to translate that data into valuable insights.
        • Value drivers could be:
          • Reduction of lost production.
          • Improving OEE.
          • Achieving ESG / sustainability goals.
          • Supporting a more circular operating model for your customers.
        • The portfolio of offerings should allow:
          • You to offer different solutions to different customer segments.
          • Your customer's journey to start from the basics and gradually grow to more advanced solutions.
            • Customers need to develop their understanding and their way of working.
            • Customers need to build trust in your services and capabilities to deliver.
  • Customer needs are not easy to identify.
    • Customers are on a journey as well. So, they may not be able to articulate their (future) needs yet.
    • Establish your company as a thought leader with a strong vision for the industry's future. This may involve educating your customers.
    • You should segment customers on their needs, not their size, products they bought or commercial potential.
      A maturity framework could be useful for this, as your customers' needs evolve as their business becomes more mature.
    • In your customers' organisations, there are different stakeholders with other goals, jobs-to-be-done and therefore, different needs.
      More advanced value propositions must be promoted and sold to an increasingly more complex decision-making-unit.
       
  • As a manufacturer of components, the game could be more difficult. Although, if you can capture data about the entire production line, process or a bigger system, there are opportunities to up your game. Just like Rolls Royce could do business directly with airlines, even-though plane manufacturers put the engine on the plane.

 

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