You want to drive product growth, increase operational efficiencies and provide a superior customer experience - but do you know what areas to address to get there?
In a recent white paper - "Achieving Software Monetization Maturity" - 4 key process areas are covered that help ensure software monetization success so that producers can achieve the following objectives:
- Increase product adoption and differentiation
- Gain transparency as to which customers license which products
- Electronically deliver software updates
- Gain insights into how products are being used
We've detailed the process areas below in terms of what happens if they're not fully realized or "mature:"
1. Licensing & Security: Without a solid software licensing and security strategy you’ll likely struggle with configuring new product offerings as quickly as the market opportunities present themselves (e.g. adoption of usage/consumption-based models, subscription models) and you’re products will be overused and you won’t know it. Not to mention that you’re products will be more exposed to the constant barrage of security threats.
2. Entitlement Management: Without mature entitlement management processes in place it will be nearly impossible to track customer entitlements – which customers own which products - which will cause difficulty in mining the installed base for cross-sell and up-sell opportunities. Support issues will arise from you're customers' inability to help themselves with self-service, not get access to their products, not get timely updates, and you’ll be at risk of losing revenue from over-use.
3. Delivery & Updates: Without mature software delivery and software update processes in place you'll likely spend thousands of dollars on manually shipping software and software updates to your customer, which is a burden to your customers to download and process the physical update and puts a drag on profitability. Protecting revenue will be a challenge without entitlement-based updates as you'll likely provide product updates to all customers irrespective of their entitlement status. Worse yet you won’t know which customers have taken the updates so you’ll both be exposed to potential security threats and product-related support issues.
4. In-Product Analytics: Without mature in-product analytics processes in place you'll likely be making product decisions based on best guesses, anecdotal information or customer survey responses – not on empirical data. Further, you won't get a true understanding of product version adoption for both product road map decision making and pro-active support (e.g. when to retire support for operating systems).
More Software Monetization Maturity Model Resources are available below!