1. Internet of Things helps to build engaging products.
Connectivity enables to build products which are more engaging:
All in all - for the first time in history, manufacturers have power to keep customers engaged to the product & provide better customer service to turn customers into consumers. As result customers will stay loyal to the same brand.
Coboc advertising its application as onboard computer and device to keep customers connected. Credit: Coboc
2. Provide better (customer) services
Smartphone application is great platform to deliver digital goods. When smartphone application is connected to the bicycle, then it unlocks novel market:
of new revenue stream for manufacturers;
of improved services for consumers.
As an example, COMODULE has made an integration between leading insurance company and bicycle database. In practice, it means that:
consumer can buy insurance for its bicycle directly through an application (no need to visit/call insurance);
acquisition of insurance policy is frictionless through an application as an app already knows necessary data about consumer & it’s bicycle (age, retail price, odometer etc). No human involvement is required;
connectivity on the other hand provides additional protection to insurance as bike is traceable;
consumer can apply & handle claim directly in the application.
COMODULE connects insurances and consumers. Credit: COMODULE
3. Internet of Things enables new business modules
Connectivity technology is also changing the way people commute - it has enabled new mobility model which is called “free-floating sharing networks”. In practice it is service that allows users to rent a vehicle via a mobile app to commute from A to B. Given marker is in rapid growth phase all over the world, e.g.
Chinese bike-sharing startup MoBike has deployed millions of bikes in more than 160 cities worldwide;
Bosch for the first time in history has invested into consumer-facing service which is scooter-sharing network in Berlin & Paris;
Scooter-sharing company goUrban has launched electric scooter network in Vienna;
COMODULE is offering turnkey solution to sharing system operators, including:
connectivity device which connects vehicles to the internet;
smartphone app which enables consumers to rent vehicles;
cloud-based fleet management solution which enables to operate and manage fleet.
GoUrban free-floating scooter sharing network in Vienna, Austria which is powered by COMODULE solution. Credit: goUrban
4. Internet of Things enables to outpace your competition products
How to bicycle/scooter companies outpace their competition with connected vehicles?
Data. Companies with connected vehicles do gather priceless data with insights into product performance and usage insights. It enables to make better product development and other strategic decisions.
Wireless updates. Connected vehicles have faster product development iterations as they can launch new functionalities via over the air updates.
All this results in faster decisions, smarter products targeted to their audience and faster iterations which enables to outpace your competition.
Probably the best known example who have achieved that is Tesla who have disrupted automotive industry. For example, in need of repairs it can autonomously call for a corrective software download, or, if necessary, send a notification to the customer with an invitation to pick up the car and deliver to Tesla facility. On top of that, they also launch new features via wireless updates, such as better acceleration from 0-100 km/h!
COMODULE Web Platform enables to analyse usage data but also perform over the air updates! Credit: COMODULE.