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View the full recording of our 8th annual SPIME2022 event for free
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View the full recording of our 8th annual SPIME2022 event for free
In this video, CEO of BaseN, Mr. Pasi Hurri, will discuss what Fire-and-Remember model is and how businesses should move to this Fire-and-Remember model, how they should launch new innovations on top of existing wisdoms instead of always reinventing the wheels.
He further highlights: “No product is a product without being a service”.
BaseN turns your products to services. So, we at BaseN gather materials and resources that we hope can be useful for you to learn more about this topic.
We will continue to add relevant materials, so stay tuned!
Companies still tend to focus more on optimizing the process, and less on the customer relationships that extend beyond the transactions of products. Our President & CEO, Mr. Pasi Hurri, calls it a Fire-and-Forget business model.
However, today, sustainable customer relationships are essential to enterprise value. And the Fire-and-Forget model may no longer be applicable when the shift is now on customer experience, product and service lifecycle, and sustainability.
Now is the time to transform your products to services, transform your business model to Fire-and-Remember model, as well as to completely rethink the customer relationships, make it mass-customized and personal with today’s technologies.
Most businesses today operate in a Fire-and-Forget mode. As soon as the product is sold, it becomes a mere liability for the duration of its warranty. Fire-and-Forget model is sticky. It is coming to an end, though.
Connectivity and sensing technologies are quickly becoming affordable. And the tile manufacturer is now able to be aware of the status and usage of every single tile she has sold – providing her with several new ways to interact with and sell more to the customer.
“The easiest example is, for instance, Amazon which started just from a web shop selling books to individual customers in a fire-and-forget model. You order a book, and you got the book and that’s it.
However, the kind of a difference in Amazon is that they started to analyze the information and the customer profiles. So, they quickly came up with a recommendation model. They analyze you and they try to serve you better and then try to sell you different products based on the vast amount of information they collect. And technically any bookstore could have done this, but Amazon just had the leadership to make it happen.”
– Pasi Hurri, CEO of BaseN
How about sock-as-a-service?
BaseN views IoT as the key enabler for Everything-as-a-Service. With affordable connectivity, cloud computing and eternal data storage, more and more mundane things (like socks) can be fully modeled and tracked in cyberspace. These things can be 3D-printed into connected, physical reality only when actually needed. The digital side of any thing, spime, remains in sync with the user at all times.
Socks-as-a-Service just needs enough leadership and wisdom from the textile industry. Having Digital Pairs for each product would be good and sustainable business, but it does require breaking some of the old wholesale and retail models, while preparing for mass-customization and perpetual customer relationships.
Watch this vodcast, where our Communication Officer has conversation with our Senior Vice President in Sales about the current status of digital twins, and how digital twins may enter our everyday lives and homes.
You can also listen to this as an episode on our podcast, IoT for the Rest Of Us.
Request to view the full recording of our 8th annual SPIME2022 event
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