Have you noticed that Linkedin is being used more and more as a recruiting center for career management? Linkedin is becoming one of “the” hot recruitment centers because the profile content their database provides is more useful than what a typical job placement website provides. Job seekers can network and communicate much more broadly, and employers can learn more too about a candidate, all with a few keystrokes. This saves time for both sides, and so the process of finding the perfect career match becomes more efficient.
This example provides the blueprint for turning almost any business into the Web based Dynamo:
1. Either leverage an existing on-line database, or create one yourself through your current marketing programs. Collect valuable data about how your customers use your products and services.
2. Turn that data into valuable information that has “built in” expertise which can be packaged and sold.
3. Identify places in your supply chain where the use of that data would make the chain more efficient.
4. Create an internet accessible way to commerce that data.
5. Charges for the access and compliment your product and services revenues with high margin business.
So while you use CRMs, SEOs, and marketing campaigns to learn more about your customers needs, make sure you are also collecting data that gives you the insight about how they apply your products and services for their use. If you can help them even better! The level of data collected forms the “built in” expertise database that can be productized and sold. Customers will pay premiums for the data if it is truly viewed as expert.
In some cases this can be combined with a Software as a Service (SaaS) model that can launch a whole new business. Give people the same benefit through internet access as they would have if they were to buy your product or service. Why would you do that?
Lets say you’re company makes some hardware that helps others test their products for compliance to certain standards. The traditional business model says to build the equipment at a certain cost and then mark it up and sell it. Let’s take an abstract look at something called revenue-per-use-time. What this means is how much money did that piece of hardware generate for its entire life cycle.
In cases where the customer buys the hardware, and it sits idle for a period of time, the amount of revenue it generated is what it was sold for. But what if instead of purchasing the hardware, the customer connects to a web site to access the hardware over the internet. They get the same result but as long as the internet is generating traffic the hardware remains in use for more of its life time. The revenue-per-use-time is higher for the “SaaS” model, which means better margins for the hardware maker. And since the customer are streaming in useful insights about how they use your products and services, the database gets built even larger. The key of course is offsetting the added cost of access bandwidth, but with the continuing decrease in costs, this may no longer be a show stopper.
With new technologies coming available that aide in the transformation, the shift from post Industrial Age thinking to Advanced Digital Age thinking is accelerating. If you’re a company who sells a good or service, think about what your revenue-per-use-time is if you had an online access alternative and start from “how to get it done”, not “it can’t be done.”
Author: Philip Casini
Article Source: EzineArticles.com
Provided by: Duty on LCD/Plasma TV
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