Monetizing Digital Innovations in Industrials

The digital revolution is turning 70. Yet the complexities of digital transformation still overwhelm decision-makers. Advancements across Industry 4.0, the Internet of Things, and Artificial Intelligence are a clear call to action for industrial and manufacturing companies – small or large. Most have been investing in digital technologies and working on digital solutions for many years, developing innovative smart solutions.

However, the key question “How to earn money with these new solutions?” is in our experience grossly understated. It only receives attention at the end of the development process. From a monetization standpoint, moving away from traditional product selling calls for a revenue model transformation. This can come in different flavors, depending on the innovation, but can be articulated across just two axes: product digitalization and price model transformation.

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