Customer Success at IoT Organizations

Customer Success at IoT Organizations

Categories: Customer Success, IoT

Many IoT organizations are selling their solutions as subscription services (software, infrastructure or platform as a service, also known as XaaS). Customers is the king on this model because they no longer have to buy hardware, perpetual licenses, hire specialists to manage technology infrastructure, hence the commitment level with these subscription services were reduced.

Based on that, Customer Success (CS) is being recognized as a critical strategy in any IoT organization with a recurring revenue model. The implementation of CS practices could support organizations to reduce churn, increase retention and allow upsells, key successful factors of any subscription service model. If you consider CS as a program that demonstrates continue value to customers over time, it is easy to see how it can fit into the IoT space.

It can be challenging to apply a single customer success approach to the field due to different business models implemented for IoT products and solutions. However, we have worked and implemented at Dynalogic IoT initiatives the following recommendations that are supporting the company to build a successful recurring revenue business:

Easy to say and hard to implement…yes, I totally agree. But we believe that it is worth the effort to protect and increase your customer base. See bellow a funny logic that could happen if CS practices are not in place:

There are many other considerations that need to be evaluated regarding Customer Success, after all, it is a company philosophy that requires adjustments around the organization, new skills and mindset, different customizations depending on the organization type and IoT approach.

Dynalogic is open to discuss more about it and support other companies to successfully implement CS practices. Contact us, we will be happy to assist you in this process.

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