Visualization as a Service could offer a number of services, including lower upfront expense, regular payments and on-call support, explains NanoLumens VP of Global Marketing Joe Lloyd on the VAAS Business Program.
Inspired by changes in the IT world, a few enterprising companies in the digital display industry have begun to ‘servicize’, their offerings, selling their solutions as a service rather than as individual hardware units. NanoLumens is among the very first true manufacturers to do so, and our servicized display solution is called Visualization as a Service, or VAAS, for short. An affordable and predictable monthly payment replaces an intimidating upfront capital expense, experts integrate management software and remain on call to provide support and training to eliminate user confusion, and timely upgrades in hardware over time ensure the technology won’t grow obsolete.
Servicizing makes visualization more affordable for the little guy
High-end display technology has typically been reserved for splashy organisations flush with cash. This has left countless organisations underserved by the industry and it has artificially shrunk the customer pool for integrators and manufacturers. That no longer needs to be the case. Instead of a prohibitive upfront price tag, servicized options like VAAS allow customers to pay as they go with predictable monthly payments that align with the goals and limitations of their business. In many cases, ad space sales on a display will exceed the cost of the VAAS programme through which a display was acquired, meaning a NanoLumens LED display can become ROI positive the moment it begins operation. A further benefit is that servicized display products never become a financial anchor. A digital display bought upfront becomes a depreciating asset immediately but when purchased as a continuing service, a display never becomes such an ignominious line item. This financial flexibility makes VAAS a much easier sell to higher ups who might be hung up on LED’s pricey reputation.
When servicing the customer is the business, customer service reigns
As you can imagine, visualization providers selling their products as a service are paid by unit-of-service rendered rather than unit-of-product sold. This eliminates the immediate return of a traditional upfront payment and incentivises sellers to nurture strong relationships with their customers, whom they need to keep around long-term in order to break even. A crucial element of this relationship building involves giving customers the tools to operate their technology confidently. To relieve customers from the burdensome pressure of becoming an expert on the inner machinations of their visualization solution, the NanoLumens VAAS program includes AWARE, an intelligent display network ecosystem capable of handling all analytics, management and content responsibilities. Consistent with servicization’s commitment to, well, service, AWARE helps take the guesswork out of operating a display solution.
You can’t price out obsolescence, but through servicization, you can price around it.
As was just noted, companies that have servicized their products are financially compelled to care about their customers for long periods of time. Over the course of these relationships, visualization products will age out of prime usefulness as superior products are invented and sold. It takes a diverse approach to combat this march of technological obsolescence. Not only do manufacturers need to continue developing new technologies on their own, but they need to consistently make these upgrades available to their customers. Beyond that, manufacturers need to build their solutions with the kinds of interchangeable subcomponents that can be swapped in and out for seamless maintenance. Further, a strong warranty needs to be in place to protect customers from any routine malfunctions or declines in performance. Each of these elements are crucial to a future-proofed servicized solution, and they play an integral role in VAAS.
Wait, so customers don’t have to overpay up front? And they can generate an immediate ROI? And they get management software to clear out confusion? And they get the support and security of a long-term partnership? And they get upgrades over time? And they don’t have to worry about obsolescence? What do the manufacturers get? Well, they get more customers, which is really all they want. If selling displays in a new way can bring in more customers than the old way, then that is an attractive proposition to sellers, even if it delays their return.