Conquer the Digital Market

Do your products have a digital added value?

In the age of the gadgets a big part of the customer value will be generated through digital activities.

 


 

Smartphones play a central role in this. Setting a product context for the customer has always been one of the biggest dreams for marketers.

 


 

The Customer likes to tell others about his bought products.

 


 

Creative ideas increase customer satisfaction and loyalty.

 


 

Get your products ready for the digital market!

A Digital Added Value for your Products

Add the following digital qualities to your existing product:

Communication

A direct communication channel to the customer

Analyses

Improve your products, processes, and customer satisfaction

Data

Collect information on the market, customer, competition etc.

Location

Get spacial and geographical awareness of customer behavior

Store Guide

Deliver a next-generation shopping experience

Cloud

Store data securely in the cloud and access it from anywhere

Sharing

Interact with the customer on a new level across his preferred channels

Community

Create lasting customer loyalty and sense of belonging

Speed

Faster processes and decisions-making capability

Efficiency

Remove redundancies and significantly cut costs

Products in the Digital Market

I. A Digital Product in the Digital Market

The product / service and the service provisions are completely digital and take place exclusively in the digital market. Examples here are music streaming services, broker platforms, digital trading markets, etc.

The customer is interacts with a platform or an app, in which the whole transaction process takes place. A high degree of automation with minimum human input is required from the company side in order to achieve this.

The communication with the customer happens over the digital channel or in social media.

II. A Physical Product with a Digital Component in the Digital Market

The product / service and the service provisions are physical but have a digital add-on component. In this scenario the possibilities the digital market offers are just used but not created and shaped. Examples here are products for home automation, communication between cars, smartphone as a remote control for physical products, wearables and all forms of consumer goods.

The customer acquires the product through the established channels and received additional value through the digital channels.

The customer interacts with an app for his smartphone, which communicates with the product. A high degree of automation with a minimum human input is required from the company side in order to achieve this.

The communication with the customer happens over the digital channel or in social media.

III. A Physical Product without a Digital Component outside the Digital Market

The product / service and the service provisions are physical but have no digital add-on component. The possibilities offered by the digital market are not used.

The customer acquires the product through the established channels.

The communication with the customer is done in a traditional way .

Customer Value

In the age of the Internet of Things it is possible to add a digital component to almost any product. These components could either be part of the product or come as an add-on and enable the communication with other devices such as a smartphone. Through this, the context around the customer and product can be determined.

Additional value and benefits for the customer:

  • receive extra functionality, even after the purchase of the product
  • find the most current ways to use the product on the internet (e.g. recipes or stylings)
  • control the product remotely via a smartphone
  • check usage and consumption on the go
  • determine which friends also use the same product and what they think about it
  • discover new ways to use the product (e.g. Tips and Tricks videos)

The list goes on and is only limited by the creativity of the producer.

Advantages of a product with a digital component

The communication with the customer is improved through the direct digital contact, which increases loyalty

The entire process could be automated to a large extent, which lowers costs

The information collected on the product helps understand how the product is used and reveals possible improvement and customization possibilities – a win-win situation.

The up-to-dateness and relevance of the collected information fits to the dynamism of today’s market.

Even a perfume bottle can communicate with a smartphone.

Success in the Digital Market

To be successful in the digital market you have to:

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be individual

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be creative

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be digital

Benefits for the Customer

  • Additional benefits from an acquired product
  • Interaction with other virtual products (e.g. a smartphone)
  • An intelligent usage and application of the product
  • Individual functionalities for the customer (e.g. Apps)
  • An easy integration with the customer’s communication (social media)

Benefits for the Company

  • Inexpensive to produce
  • Direct communication with the customer via virtual devices
  • Information on the context and the usage of the products
  • Customization after the sale of the product
  • Recommendations in social media or other channels

How is this achieved?

The topic of business model digitalization sounds like a difficult task. Many areas of the organization are affected and many things need to be changed. Before embarking on such a big transformation journey one must answer the following question: How much potential is there?

Successful companies have established portfolios of products, which are being bought by specific customer groups. Those portfolios offer a good starting point for the digitalization process as they allow the creation of additional value for the customers through a digital add-on without having to change the product significantly.

This leads to a carefully controlled process through which benefits are achieved without taking any big risks.

Exactly for this approach we are the experts.

The combination of cross-industry experience and modern and innovative technologies and management methods allows us to produce creative ideas. The identification of digitalization potentials in the product portfolio, the choice of the right technologies in combination with the corresponding methodology for anything from analysis to the integration in the organizational processes and IT are just part of our spectrum of services.

How do I apply this to my company?