Successfully reported this slideshow.
We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads. You can change your ad preferences anytime.

PlumChoice: The New Cardinal Rules of IoT Adoption

991 views

Published on

If the Internet of Things (IoT) is critical to your company's strategic success, product portfolio or roadmap, then this webinar is for you.

To watch the webinar please visit: www.youtube.com/watch?v=0VJDVk6r970

Join Zonoff's retail industry and IoT platform expert, Peter Gerstberger, Vice President & GM, and Karen McPhillips, Vice President of Marketing from PlumChoice who will provide behind-the-scenes insights, including:

*Stumbling blocks to purchase - why buyers check out before they check out and how to convert prospects into buyers
*Keys to product adoption and how to leverage them before your product is returned
*Revenue impact through increasing ARPU and/or basket-size
*Lifetime value expansion
*Why your current strategy is limiting your success in the IoT

Published in: Technology
  • Be the first to comment

PlumChoice: The New Cardinal Rules of IoT Adoption

  1. 1. The Cardinal Rules of IoT Adoption Four Practical Practices that Underpin the Success of Connected Home Products & Solutions NEW
  2. 2. Welcome Karen McPhillips Vice President, Marketing PlumChoice, Inc.
  3. 3.  Housekeeping items  Introduction  Fireside chat  Four Cardinal Rules of IoT Adoption  Summary  Q&A Agenda
  4. 4. Housekeeping  Format for today’s webinar  Opportunities to ask questions  Audience surveys  Webinar recording Image Source: Hanna-Barbera Productions (http://thejetsons.wikia.com)
  5. 5. Today’s Speaker Peter Gerstberger Vice President and General Manager Zonoff, Inc.
  6. 6. Overview  B2B2C, White-Label Model – providing embedded home automation software, cloud services, mobile application development, data analytics and hardware reference designs  Experts in wireless mesh networks, full service technology platforms, protocol and device agnostic Zonoff is a leading Consumer IoT Technology and Services Platform  Key Verticals: Retail, CE-OEM, Service Provider, Home Construction, Insurance  HQ in Malvern, PA with satellite offices in Seattle, San Francisco and Germany © PLUMCHOICE, INC. 2015. ALL RIGHTS RESERVED.6
  7. 7. Home Automation & Smart Security Platform © PLUMCHOICE, INC. 2015. ALL RIGHTS RESERVED.7 Solutions Ecosystem Add-on Services PaaS Third-Party Devices White Label Turn-Key Co-Branded Q116 Home Automation Software Smart home hub End Point Devices Wiring Panels Security Panel Cable Box New Cloud Services Mobile Apps Home Automation Home Security Analytics and Data Services (Q116) Security Sensors Lighting Energy Entry/Exit Home Audio Wearables Video Store/Retrieve Professional Monitoring Home Repair/Improvement (2016)
  8. 8. Poll Question 1 How many smart or connected devices do you have in your home? (Select one answer) a. 1-3 b. 3-5 c. 5-7 d. 7-10 e. 10+ Image Source: Hanna-Barbera Productions (www.zmescience.com)
  9. 9. 9 © PLUMCHOICE, INC. 2015. ALL RIGHTS RESERVED. Consumers IoT Ecosystem
  10. 10. 10 © PLUMCHOICE, INC. 2015. ALL RIGHTS RESERVED. Consumers IoT Ecosystem
  11. 11. 11 © PLUMCHOICE, INC. 2015. ALL RIGHTS RESERVED. Consumers IoT Ecosystem
  12. 12. 12 © PLUMCHOICE, INC. 2015. ALL RIGHTS RESERVED. Consumers IoT Ecosystem
  13. 13. 13 © PLUMCHOICE, INC. 2015. ALL RIGHTS RESERVED. Consumers IoT Ecosystem
  14. 14. What is missing the mark?
  15. 15. Traditional selling models need not apply © PLUMCHOICE, INC. 2015. ALL RIGHTS RESERVED.16 Image Source: Hampton’s Appliances, New York, 1947, earlytelevision.org
  16. 16. New selling models put customers’ needs first 17 Omni-channel purchase options put the customer in control and address needs of diverse personal technology environments. © PLUMCHOICE, INC. 2015. ALL RIGHTS RESERVED.
  17. 17. 18 © PLUMCHOICE, INC. 2015. ALL RIGHTS RESERVED. Consumers IoT Ecosystem
  18. 18. Personal Technology Envelopes © PLUMCHOICE, INC. 2015. ALL RIGHTS RESERVED.19 TABLET ROUTER PRINTER SMART PHONE UNIVERSAL REMOTE CONTROL Source: PlumChoice 2015
  19. 19. Personal Technology Envelopes © PLUMCHOICE, INC. 2015. ALL RIGHTS RESERVED.20 CAMERA SECURITY SENSOR THERMOSTAT WATER SENSOR SMOKE DETECTOR TABLET ROUTER PRINTER APPLIANCES SMART PHONE UNIVERSAL REMOTE CONTROL Source: PlumChoice 2015
  20. 20. Personal Technology Envelopes © PLUMCHOICE, INC. 2015. ALL RIGHTS RESERVED.21 FITNESS WEARABLE SHIRT CAMERA SECURITY SENSOR THERMOSTAT WATER SENSOR SMOKE DETECTOR TABLET ROUTER PRINTER APPLIANCES SMART PHONE UNIVERSAL REMOTE CONTROL GLUCOMETER AUTO CROCKPOT WATCHLIGHT MUSIC SYSTEM ACCELEROMETER LOCK HEART MONITOR Source: PlumChoice 2015
  21. 21. Personal Technology Envelopes © PLUMCHOICE, INC. 2015. ALL RIGHTS RESERVED.22 FITNESS WEARABLE SHIRT CAMERA SECURITY SENSOR THERMOSTAT WATER SENSOR SMOKE DETECTOR TABLET ROUTER PRINTER APPLIANCES SMART PHONE UNIVERSAL REMOTE CONTROL GLUCOMETER AUTO CROCKPOT WATCHLIGHT MUSIC SYSTEM ACCELEROMETER LOCK HEART MONITOR Source: PlumChoice 2015
  22. 22. Personal Technology Envelopes 23 © PLUMCHOICE, INC. 2015. ALL RIGHTS RESERVED. FITNESS WEARABLE SHIRT CAMERA SECURITY SENSOR THERMOSTAT WATER SENSOR SMOKE DETECTOR TABLET ROUTER PRINTER APPLIANCES SMART PHONE UNIVERSAL REMOTE CONTROL GLUCOMETER AUTO CROCKPOT WATCHLIGHT MUSIC SYSTEM ACCELEROMETER LOCK HEART MONITOR
  23. 23. Support Paradigm Transformation 25  Sales conversion  Value realization  Adoption  Additional purchases
  24. 24. Poll Question 2 What are the biggest risks to your IoT revenue growth? (Select all that apply) a) Sales conversion b) NFFR c) Brand/product differentiation d) Time to market e) Multi-vendor technology environment
  25. 25. The New Support Services Paradigm
  26. 26. Services Internet of Services stack 1. Specialty Devices Source: PlumChoice 2014 © PLUMCHOICE, INC. 2015. ALL RIGHTS RESERVED.28
  27. 27. Services Internet of Services stack 1. Specialty Devices 2. Connectivity - Fog Source: PlumChoice 2014 © PLUMCHOICE, INC. 2015. ALL RIGHTS RESERVED.29
  28. 28. Services Internet of Services stack 1. Specialty Devices 3. Connectivity - Cloud 2. Connectivity - Fog Source: PlumChoice 2014 © PLUMCHOICE, INC. 2015. ALL RIGHTS RESERVED.30
  29. 29. Services Internet of Services stack 4. Control Devices 1. Specialty Devices 3. Connectivity - Cloud 2. Connectivity - Fog Source: PlumChoice 2014 © PLUMCHOICE, INC. 2015. ALL RIGHTS RESERVED.31
  30. 30. Services Internet of Services stack 4. Control Devices 1. Specialty Devices 3. Connectivity - Cloud 2. Connectivity - Fog 5. Point Control Apps © PLUMCHOICE, INC. 2015. ALL RIGHTS RESERVED.32 Source: PlumChoice 2014
  31. 31. Services Internet of Services stack 6. Aggregator Solutions 4. Control Devices 1. Specialty Devices 3. Connectivity - Cloud 2. Connectivity - Fog 5. Point Control Apps © PLUMCHOICE, INC. 2015. ALL RIGHTS RESERVED.33 Source: PlumChoice 2014
  32. 32. Services Internet of Services stack 6. Aggregator Solutions 4. Control Devices 1. Specialty Devices 3. Connectivity - Cloud 2. Connectivity - Fog 7. Cloud/SaaS 5. Point Control Apps © PLUMCHOICE, INC. 2015. ALL RIGHTS RESERVED.34 Source: PlumChoice 2014
  33. 33. Services Internet of Services stack 6. Aggregator Solutions 4. Control Devices 1. Specialty Devices 3. Connectivity - Cloud 2. Connectivity - Fog 7. Cloud/SaaS 5. Point Control Apps © PLUMCHOICE, INC. 2015. ALL RIGHTS RESERVED. RETAILERS 35 Source: PlumChoice 2014
  34. 34. Services DATA Internet of Services stack 6. Aggregator Solutions 4. Control Devices 1. Specialty Devices 3. Connectivity - Cloud 2. Connectivity - Fog 7. Cloud/SaaS 5. Point Control Apps RETAILERS © PLUMCHOICE, INC. 2015. ALL RIGHTS RESERVED.36 Source: PlumChoice 2014
  35. 35. Services DATA Internet of Services stack 6. Aggregator Solutions 4. Control Devices 1. Specialty Devices 3. Connectivity - Cloud 2. Connectivity - Fog 7. Cloud/SaaS 5. Point Control Apps RETAILERS © PLUMCHOICE, INC. 2015. ALL RIGHTS RESERVED. SECURITY 37 Source: PlumChoice 2014
  36. 36. ServicesSECURITY DATA 6. Aggregator Solutions 4. Control Devices 1. Specialty Devices 3. Connectivity - Cloud 2. Connectivity - Fog 7. Cloud/SaaS 5. Point Control Apps RETAILERS Source: PlumChoice 2014 Internet of Services stack © PLUMCHOICE, INC. 2015. ALL RIGHTS RESERVED. Service complexity compounds as we move up the stack and/or add more devices 38
  37. 37. ServicesSECURITY DATA 6. Aggregator Solutions 4. Control Devices 1. Specialty Devices 3. Connectivity - Cloud 2. Connectivity - Fog 7. Cloud/SaaS 5. Point Control Apps RETAILERS Internet of Services stack © PLUMCHOICE, INC. 2015. ALL RIGHTS RESERVED. Service complexity compounds as we move up the stack and/or add more devices Services 39 Source: PlumChoice 2014
  38. 38. ServicesSECURITY DATA 6. Aggregator Solutions 4. Control Devices 1. Specialty Devices 3. Connectivity - Cloud 2. Connectivity - Fog 7. Cloud/SaaS 5. Point Control Apps RETAILERS Internet of Services © PLUMCHOICE, INC. 2015. ALL RIGHTS RESERVED. Service complexity compounds as we move up the stack and/or add more devices Services 40 Source: PlumChoice 2014
  39. 39. Getting started Four Practical Practices that Underpin the Success of Connected Home Products & Solutions
  40. 40. Create and protect revenue: Lifecycle support services 42 © PLUMCHOICE, INC. 2015. ALL RIGHTS RESERVED. REMEDIATION and/or USAGE SUPPORT INTERCONNECTION INSTALLATION & ACTIVATION CONSIDERATION SELECTIONAWARENESS BUYER INCREASED UTILITY CUSTOMER PURCHASE BUYER CUSTOMER LIFECYCLE EXPERIENCE
  41. 41.  Apps downloads are promising, but sales do not take place  When sales convert: less than desirable ARPU/Size of Basket  Poor customer experience Pain point: Pre-Purchase/Pre-Sales 43 CUSTOMER PURCHASE REMEDIATION and/or USAGE SUPPORT INTERCONNECTION INSTALLATION & ACTIVATION CONSIDERATION AWARENESS INCREASED UTILITY BUYER  Too many choices; complexity  Confusion  Negative emotion NOSUPPORT BrandEnd user SELECTION © PLUMCHOICE, INC. 2015. ALL RIGHTS RESERVED.
  42. 42.  Apps downloads are promising, but sales do not take place  When sales convert: less than desirable ARPU/Size of Basket  Poor customer experience Pain point mitigated: Pre-Purchase/Pre-Sales 44 CUSTOMER PURCHASE REMEDIATION and/or USAGE SUPPORT INTERCONNECTION INSTALLATION & ACTIVATION CONSIDERATION AWARENESS INCREASED UTILITY BUYER  Too many choices; complexity  Confusion  Negative emotion NOSUPPORT BrandEnd user SELECTION NOSUPPORTSUPPORT  Differentiate and create preference  Accelerate purchase decision  Create baskets: convert to sale  Increase ARPU/Size of Basket  Establish a positive customer experience  Simplicity  Confidence  Positive emotion © PLUMCHOICE, INC. 2015. ALL RIGHTS RESERVED.
  43. 43. 45 © PLUMCHOICE, INC. 2015. ALL RIGHTS RESERVED. BUYER CUSTOMER JOURNEY REMEDIATION and/or USAGE SUPPORT INTERCONNECTION INSTALLATION & ACTIVATION CONSIDERATION SELECTIONAWARENESS INCREASED UTILITY CUSTOMER PURCHASE Don’t lose the sale after the sale: Lifecycle support services
  44. 44. Pain point mitigated: Integration as part of Installation & Activation 46 NOSUPPORTSUPPORT BrandEnd user REMEDIATION and/or USAGE SUPPORT INTERCONNECTION CONSIDERATION SELECTIONAWARENESS INCREASED UTILITY PURCHASE CUSTOMER © PLUMCHOICE, INC. 2015. ALL RIGHTS RESERVED.  NFFR  Low adoption rates  Poor customer experience  Negative brand association  Frustration  Unrealized value  Working without a net INSTALLATION & ACTIVATIONINTERCONNECTION
  45. 45. Pain point mitigated: Integration as part of Installation & Activation 47  Reduce returns  Increase adoption  Build positive customer relationships  Increase perceived value  Simplified process  Confidence  Time to Value  Brand has my back NOSUPPORTSUPPORT BrandEnd user REMEDIATION and/or USAGE SUPPORT INTERCONNECTION CONSIDERATION SELECTIONAWARENESS INCREASED UTILITY PURCHASE CUSTOMER © PLUMCHOICE, INC. 2015. ALL RIGHTS RESERVED.  NFFR  Low adoption rates  Poor customer experience  Negative brand association  Frustration  Unrealized value  Working without a net INSTALLATION & ACTIVATIONINTERCONNECTION
  46. 46. Pain point: Ongoing/Advanced Usage Support 48 NOSUPPORT BrandEnd user REMEDIATION and/or USAGE SUPPORT INSTALLATION & ACTIVATION CONSIDERATION SELECTIONAWARENESS CUSTOMER PURCHASE INTERCONNECTION INCREASED UTILITY CUSTOMER NOSUPPORTSUPPORT © PLUMCHOICE, INC. 2015. ALL RIGHTS RESERVED.  Falling short of customer expectations  Limiting value exchange  Minimizing lifetime value  Lack of influence on customer experience  Limited use of technology value  Don’t know who to turn to  Frustration with interoperability
  47. 47. Pain point mitigated: Ongoing/Advanced Usage Support 49 NOSUPPORT BrandEnd user REMEDIATION and/or USAGE SUPPORT INSTALLATION & ACTIVATION CONSIDERATION SELECTIONAWARENESS CUSTOMER PURCHASE INTERCONNECTION INCREASED UTILITY CUSTOMER  Meet and exceed customer expectations  Provide ongoing value exchange that nurtures habituation  Increased perceived value and lifetime value  Deepen customer relationships  Ongoing value  Brand has my back  My technology works as I expect it to NOSUPPORTSUPPORT © PLUMCHOICE, INC. 2015. ALL RIGHTS RESERVED.  Falling short of customer expectations  Limiting value exchange  Minimizing lifetime value  Lack of influence on customer experience  Limited use of technology value  Don’t know who to turn to  Frustration with interoperability
  48. 48.  Limited lifetime value  Missed revenue opportunity  Missed share-of-mind Pain point: Additional purchases 50  New technology needs  Complexity and compatibility questions  Lack of insight to outdated or less-than-optimal technology NOSUPPORT BrandEnd user REMEDIATION and/or USAGE SUPPORT INTERCONNECTION INSTALLATION & ACTIVATION CONSIDERATION SELECTIONAWARENESS INCREASED UTILITY PURCHASE UPSELL/CROSS-SELL © PLUMCHOICE, INC. 2015. ALL RIGHTS RESERVED.
  49. 49.  Limited lifetime value  Missed revenue opportunity  Missed share-of-mind Pain point mitigated: Upsell/Cross-sell 51  Increase perceived value  Broader/deeper customer relationships  Increase revenue  Greater lifetime value  Brand has my back  Confidence in Personal Technology Envelope  Brand met or exceeded my expectations NOSUPPORTSUPPORT BrandEnd user REMEDIATION and/or USAGE SUPPORT INTERCONNECTION INSTALLATION & ACTIVATION CONSIDERATION SELECTIONAWARENESS INCREASED UTILITY PURCHASE UPSELL/CROSS-SELL © PLUMCHOICE, INC. 2015. ALL RIGHTS RESERVED.  New technology needs  Complexity and compatibility questions  Lack of insight to outdated or less-than-optimal technology
  50. 50. The Cardinal Rules of IoT Adoption 1. Reduce confusion and uncertainty in the buying process: Evolve your sales model to include expert, easy-to-access, pre-sales technical guidance 2. Minimize risk of returns: Expand installation services to guide customers beyond the threshold of initial use 3. Enable adoption through better customer experience: Transform your support paradigm – help customers be successful with your product or solution as part of their existing tech environment 4. Expand Lifetime Value with a services wrapper: Wrap support services around your customer (not your product) for ongoing value exchange NEW
  51. 51. Ground Zero: Pinpoint your pain point in the purchase process. Bringing a new product to market? Plan to support pre-purchase in addition to installation, onboarding and activation. Next Steps: 1. Establish desired customer experience 2. Determine target outcomes 3. Assess execution models: benefits and downsides of changing existing resources (eg, contact center) and a specialized team 4. If specialized, identify pros and cons to internal and outsourced models Next Steps 5353 © PLUMCHOICE, INC. 2015. ALL RIGHTS RESERVED. Insource Support Outsource Support vs APPLY FOR A PLUMCHOICE WORKSHOP www.info.plumchoice.com/workshop
  52. 52. Q&A
  53. 53. The New Cardinal Rules of IoT Adoption Peter Gerstberger Vice President and General Manager Zonoff, Inc. pgerstberger@zonoff.com www.linkedin.com/in/gerstberger Karen McPhillips Vice President, Marketing PlumChoice, Inc. kmcphillips@plumchoice.com www.linkedin.com/in/kmcphillips For more information please contact the presenters, email sales@plumchoice.com or visit us at www.plumchoice.com THANK YOU
  54. 54. Convenience, control, and simplicity: The promise of the IoT. Deliver on that promise with Specialized Technical Support Services.

×