If you truly run a digital business model, you make at least 50% of your revenue with your customers after the first purchase of your solution or services. Of course, customer satisfaction needs to be high, so you can embark on this journey, but you also need to think differently about the ongoing value you provide.
Join R "Ray" Wang and Matthew Dunkley as they discuss key elements of post-sale services and monetization:
- Understand your customer and their usage.
Do you know what ties your customer to your products, how they adopt them, and what features are being used the most? Do you know how to build digital feedback loops with your customers?
- Treat updates as a value-driver, not a tech tool.
Software and device updates are strategic to continuously delivering new value. How good are you at it, and can you even do it for disconnected edge devices?
- Rethink communications and self-services.
Little things can make a big difference. How do customers learn about product changes, new services they can use, or issues affecting them? Do they feel like you're a partner in their success?
Make sure your company is prepared to deliver the high-value experience customers expect. Recognize the opportunities to build recurring revenue streams and strengthen customer relationships.
R "Ray" Wang
Principal Analyst, Founder and Chairman
Senior Director of Strategy and Product Management, Software Monetization