Tuesday, 29 January 2013

Got a product? Make a service = increased ROI

How often do designers define investors ROI, utilizing art, finance, and engineering? Every day. But that's only 1/2  the  equation. Service "stickiness" is the other and what keeps design revenue rolling in.

It isn't enough to design a better camera as in the case of the Lytro camera and as detailed in one of our past discussions - Lytro is by Definition a Breakthrough as the full impetus of the Lytro world is the services associated with it. Fast Company once again does a fine job at bringing the basics of this model, ROI through services to light and as detailed here: How to Turn Products into Services and basics are here:
1) Utilizing a selling to renting Model
2) Expand it through education, work in teams with other brands, etc
3) Digitize it and via #1 and #2 to create stickiness. Best example, apps, remnders, etc

Oddly this is defining an entire ego system surrounding the physical design of the object itself and similar to something like the BMW i-drive where a physical design has an exterior set of services that extend into the home.

Where else can you find out about product and service design:
- How Behance sold itself to Adobe for 100m and all based on the design of the service itself
- Oyua, android and full design ROI = millions from kickstarter
- SlideShare extremely simple UI created a purchase price of +100M by LinkedIN