WHY?

Business Benefits

  • Build products that are more desirable to users
  • Differentiate from competitors
  • Expand the service offering

Circular Benefits

  • Extend product lifecycle
  • Redice energy consumption during product lifetime
  • Redice emissions during product lifetime

WHAT?

Interconnected products are part of an information ecosystem and are able to:
  • execute complex tasks,
  • understand the ecosystem,
  • adapt their behaviour,
  • collaborate in order to help the user to reach his goals.
From the producer perspective, interconnected products are:
  • important data sources,
  • the enabler for a tighter customer relationsihip,
  • the way to provide value added services.
Interconnected products may be intelligent (Artificial Intelligence) and are changing the product boundaries. Product value is migrating from the product itslef to the cloud.

How to create more value with interconnected products

HOW?

Phase 1
​Who are my clients?

Goals
  • Identify the clients for the IoT product


​Steps
  1. Analyze the actual clients
  2. Create (or update) the market segmentation
  3. Select the most interesting market segments
  4. Define the user personas

Phase 2
​What are doing my competitors?

Goals
  • Include in the product all useful features discovered by competitors
Steps
  1. Analyze competitors' products and services
  2. Analyze competitors' strategy
  3. Explore the crowdfunding websites to find new ideas

Phase 3
​Design the ecosystem

Goals
  • Understand the product ecosystem

​
Steps
  1. Identify all the stakeholders (users,service providers, producer, ...)  and all other products that exist in the product ecosystem

Phase 4
​Improve the user experience

Goals
  • Design the user experience enabled by the digital product.

Steps
  1. Analyze the digital user experience and explore the 6 value creation areas for interconnected products (see figure above)

Phase 5
​Define the business model

Goals
  • Define the go-to-market for the digital product

Steps
  1. Run a session business model canvas session
  2. Prepare a detailed S-Curve to estimate costs, revenues and profit

Phase 6
​Create the IoT roadmap

Goals
  • Define the IoT implementation strategy

​
Steps
  1. Create the IoT Roadmap to follow for the IoT functionalities implementation

Tools

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