When it comes to connectivity, being a “bike-assembler” might not be enough anymore because IoT cannot be seen as just one position on the bill of materials. Connectivity affects the business model of the company. Where conservative companies became successful by pushing year after year as much hardware as possible into the market, the core company value of future bike companies is more on engaging the customer and creating strong relationships. Stop selling a bike and don’t think about it anymore: Sell the bike - Care for your customer and make sure he has a great time on his bike - Begin to offer him services on top of the bike. In one phrase: Turn your customer into an user.

This requires a shift in the mindset throughout all company departments. And beyond that every department should have a severe interest that the company’s products are connected.

To give you some examples:

  • Service: Don’t wait for the next customer service claim. Know their needs, predict maintenance and enhance their product experience.

  • Sales: Earn recurring revenue with one customer. Stop one-time sales and start to provide digital goods on top of bikes.

  • Marketing: Stop fishing in the dark and get to know your customers. Provide added services that matter.

  • R&D: Analyse product’s usage and develop new products according to real market needs.

How to get started? Take the following three steps and get your bike business connected:

  1. Define your own connectivity approach

    How can your company’s vision and mission leverage from a connected product in the future? How do you position your company in the market and what is it that differs you from your competition? Connectivity solutions can empower any department in your company. Choose your own way.

  2. Start simple and choose your scope carefully
    The potential of connectivity needs to grow within your company’s environment. Give every department the chance to innovate their business by kicking-off step-by-step. Connect your premium products in the first step only or start with a Bluetooth interface before equipping your full range with sim chips. Always consider you will need the proper resources in your team to make the solution successful.

  3. Cooperate with third parties
    The technology is available and it should be all about connecting the dots? It is but always consider speed and money. Developing an own eco-system can easily take two years without any proof of success. Invest that time in your use case and choose the proper partner to implement it because no one knows your business better than you do and the industry is moving fast.

Do you have any questions or ideas? I am looking forward to hear them - contact me: sven@comodule.com!