Wed, 10 May 2023
Solo episode with Bruce Sinclair, the host of the show, discussing how smart digital can enable predictive maintenance for margin improvement and data-driven business models to increase the exit multiple. In businesses where maintenance has a meaningful impact on margins, we can use artificial intelligence to predict when assets will fail in advance of any noticeable signs of a problem. By using smart digital to prevent unplanned downtimes, we increase the company’s operational efficiency to improves its margins, for a relatively low investment in tech. Collecting proprietary monetization data enables the development of novel business models that until recently, were impossible to deploy. Moving from one-and-done product sales to sales that recur to continuously generating revenue are rewarded by the next buyer paying a higher EBITDA multiple. In this episode, Bruce discusses:
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Wed, 15 March 2023
Solo episode with Bruce Sinclair, the host of the show, discussing how smart digital can algorithmically cross sell products for customer expansion and use AI to identify new markets to enter for market expansion. Smart digital improves existing customer expansion strategies and enables new ones for physical products, services and environments, that until now were only available to software companies. Automatic consumable cross selling can be emulated in the industrial sector and any other sector where one product depends on another product to operate. Using AI and data mining to discover market adjacency insights can augment or replace the traditional market expansion playbooks used today. The candidate list of market adjacencies is derived from primary data and only gets deeper and wider with time. Deciding on which market to expand into becomes a repeatable analytical exercise based on real customer data. And unlike traditional techniques, smart digital market expansion also determines the best product configuration and target persona for each potential new market. In this episode, Bruce discusses: Customer expansion by upselling like a software company for non-software products. Other types of customer expansion strategies supported by smart digital. Case study of HP’s smart printers. Using proprietary data from a smart product to identify market adjacencies with artificial intelligence. How smart digital can help us identify the proper product configuration to enter a new market. In this episode, Bruce discusses:
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Mon, 20 February 2023
Solo episode with Bruce Sinclair, the host of the show, discussing data-driven value creation for tech & software companies and data-driven product expansion with fintech for traditional companies. Product expansion driven by proprietary primary customer data excerpt: When architected correctly, smart products yield proprietary primary customer data that can be used to drive low-risk product expansion. Like Tesla, your company can also offer insurance and other high-margin, competitively priced products that precisely fit each customer’s needs. Smart digital value creation for tech and software companies excerpt: Smart digital transformation can be applied to any company, but the type of company determines the specific tools needed for implementation. In this episode, Bruce discusses:
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Mon, 30 January 2023
Solo episode with Bruce Sinclair, the host of the show, discussing how to smart digital value creation can augment and improve these traditional value drivers. On boosting buy & build performance excerpt: Smart digital is a new lens from which to spot add-on companies and a new way to integrate their products with the platform. Unlike consolidating IT systems, orchestrating multiple products to work together produces not only a more innovative solution, but a less expensive one too. On market share expansion excerpt: This pricing optimization approach is based on pure customer data – clean and unbiased. By using APIs or sensors to understand how customers make money with their software or physical products, pricing becomes an analytical exercise that can stand up to the scrutiny of any skeptical CFO. This is true value pricing. In this episode, Bruce discusses:
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Tue, 17 January 2023
Our guest Prabhu Soundarrajan is President Elect of the International Society of Automation where he is responsible for strategy to create a better world through automation. He has over 20 years experience as tech executive in Fortune 100 and VC/PE-backed companies with various roles including business transformation. In this episode Prabhu and Bruce discuss:
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Tue, 10 January 2023
Solo episode with Bruce Sinclair, the host of the show, discussing how to improve pricing optimization and customer retention by gathering primary customer data with smart tech. On pricing optimization: Some companies use cost-plus pricing and others use competitive-based pricing, but the gold standard is value-based pricing. Since price is exchanged for value, to get the price right we need to understand how much value the product produces… which is easier said than done. Until recently, understanding what exactly the customer values and how much they value it is a qualitative research project at best. But now we have virtual products – native and virtualized. Software and tech products that can use APIs to gather the primary data needed to calculate produced value and smart products that can use sensors to gather the primary data needed to calculate produced value… On customer retention: As we all know, it’s far more profitable to keep a customer than to acquire a new one, whether that’s to sell them more of the same or new products or services. The absence of a direct relationship results in a loss of customer control and potentially a loss of customer without ever knowing why. Today selling a physical product doesn’t have to mean the end of the customer relationship. Smart products are connected to the internet and just like software, they are forever connected to the customer… In this episode, Bruce discusses:
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