New revenue streams with dynamic information
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Lars Löfgren
Business development manager, Product Information
+46 (0)73 682 77 81
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Andrew McCabe
Country Manager UK, Product Information
+44 (0) 1926 642745
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New revenue streams with dynamic information.

Digitalisation enables completely new revenue streams, where the big profits are often to be collected after a product has been sold. Instead of selling a machine, production is sold as a service. Instead of replacing an existing tool with a new one, it can be upgraded with new features and accessories or repaired using original spare parts. Dynamic product information plays a crucial role in making it possible: 

Sustainable products

The wear-and-tear society belongs to the past. Products should be able to create value over a long period of time and would rather be upgraded and repaired than replaced.

The more accessories that are launched, components that are developed and spare parts that are improved, the longer the life of the products. At the same time, a number of new business opportunities are created.

In order to maintain and get the most value out of a product, the information about it needs to reflect what it consists of precisely today, in terms of accessories, replaced components and software updates – not what it consisted of when it was purchased. When products change over time, we can no longer rely on static product information, for example in the form of pdf files, predefined web pages and printed manuals that were correct when the product left the production line.

With dynamically distributed information, each part of the product information is its own module, which can easily be combined to correspond to the unique product. This ensures that the information available about a product is relevant no matter how old or updated it is, while keeping the cost of maintaining the product information down.

Servitisation

Selling operating time instead of a machine is something that both customers and suppliers see a benefit in. However, for both to be satisfied, downtime needs to be kept to a minimum. With dynamically distributed information, both troubleshooting and correcting the problem gets faster. At the same time, more junior staff can perform more complex repairs and maintenance, as dynamically distributed information can be interactive and educational, e.g. through guided fault tracing and instructions in an Augmented Reality environment.

Offerings

The product information that a user is looking for shows what is important to that person right now. Information about what is often sought makes it possible for companies to offer tailor-made solutions that the user is interested in. Someone looking for how to change winter tyres in October can benefit from an offer from a tyre storage service provider. Anyone looking for a function that his or her product currently lacks can be linked to an accessory that enables the function, which will be both cheaper and easier than buying a new product.

Spare parts

Spending time looking for the right spare part – or ordering the wrong one – leads to frustration and unnecessary costs, for both supplier and customer. With dynamically distributed product information linked to spare parts catalogues and e-commerce, it becomes easy to order correctly, with or without the serial number of the part that needs to be replaced: Digital product information makes it possible to find information in several ways, for example by clicking on an image of the correct spare part, enter the serial number or navigate a menu.

With a positive user experience, also the chance increases that the user stays with the original manufacturer instead of turning to third-party suppliers.

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Case studies with dynamic information

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Lars Löfgren
Business development manager, Product Information
+46 (0)73 682 77 81
Contact me

Andrew McCabe
Country Manager UK, Product Information
+44 (0) 1926 642745
Contact me

Elke Grundmann
Department Manager München, Product Information
+49 172 378 16 32
Contact me

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