The Find Revenue Everywhere Else Ecosystem

Oct. 21, 2014

In grade school and high school I learned about ecological systems such as a pond or a forest.  I learned how it is important to let each part of the system do its job and how interfering with a part of it can unravel everything.  I guess that is too much "yesteryear" at this point.  

The new ecosystem is all about customer relationship management (CSM) and keeping a customer inside your purview so you can sell them more and more.  Apple is "amazing" at doing this, by connecting you to their 675,000 apps and allowing you to experience "continuity" by starting something useful on one of their devices and finishing it on another.  And don't think they are being generous when they offered you FREE updates to Yosemite and iOS 8.1 this week.  

There is a business model called "freemium."  It's not really new.  You give away something for free with the expectation that you will make money on something else.  You bring the customer into your ecosystem.  I've come to believe that FREE now means Find Revenue Everywhere Else.  

The trucking industry is, honestly, no different.  Most people understand that there are revenues and profits in the aftermarket.  Sometimes, more so than in the original sale.

Financing and insurance during the sale of a vehicle are a good deal for a dealer.  What dealer does not want you to come back to them for warranty service; and, they want you back after the warranty expires.  Vertical integration and OEM based telematics systems are part of the trucking ecosystem.  I'd say we are still in the early stages of this development.  

Various entities are working to find ways to get you involved and keep you involved.  Choose carefully.

About the Author

Paul Menig | CEO

Paul Menig is the leader of Tech-I-M LLC, a consulting company focused on helping companies succeed by leveraging technology in their products and processes. After successfully introducing many high tech products in the corporate worlds of General Electric, Eaton and Daimler, he is now focused on savvy technology creating powerful results in companies of all sizes.

Paul also provides free counseling to a wide range of businesses as part of the non-profit organization SCORE that is associated with the Small Business Administration (SBA). Paul is a graduate of the Massachusetts Institute of Technology (MIT) in electrical engineering and has participated in many training programs in quality, strategic planning, finance and technical areas.

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