RTLS and the power of Digital Transformation

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This blog is all about selling RTLS. RTLS makes most sense in an IOT context. It  excels as a combination of location-awareness with sensors and analytics. Dove-tailed with desired business outcomes. So we say RTLS and mean all of this :-)

Reviewing Go-To-Market approaches of RTLS companies we found in our last blog post:
  1. More often than not digital transformation is/was not part of the game plan - at least not consciously from a sales perspective. 
  2. GTM evolves through three phases: a) Getting off the ground b) Proving relevance and c) Scaling the business.
Let‘s discuss how to leverage these insights for a successful sales process - with improved turn-rates and quickest possible time to revenue.

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UWB+Chirp Asset Tag

Digital Transformation
Once a business changes two of three essential aspects:
  • Value Proposition - The what? What does the business offer to the customer?
  • Value Chain - The how? How is the value proposition created?
  • Revenue Model - The value? How is revenue created?
Providing location data in real-time - the main purpose of RTLS - directly impacts how the business creates value. Examples include optimized use of resources, higher throughput and safer operation: Driving down cost and improving productivity.

The additional WHERE insights allow for more aggressive, yet reliable, production schedules enhancing value proposition and value chain of the business. Shipping more product quicker generates incremental revenue. All three aspects WHAT, HOW and VALUE gain by leveraging real-time location data making the technology a catalyst for genuine digital transformation.
In stark contrast many RTLS initiatives start as a technology trial... and fail unless both the customer and the RTLS vendor broaden the scope and reap their catalyst benefit for digital transformation of the business.
This is why anything RTLS should be big - even for large corporations!
Changing scope and perception of an RTLS opportunity from technology to digital transformation holds perhaps the biggest sales potential for RTLS vendors.

There are pit-falls however! Have a look at Go-To-Market maturity progression in our next blog post to find out.

Digital transformation happens *).






____
*) Karolin Frankenberger, University St. Gallen (Switzerland) 2019: Digital Transformation: Mastering Change with Business Model Innovation.

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