In This Weekend Update
Molly asks you to be part of the ATC Foundation
Michele introduces herself as the newest member of the board
Gemalto shares how Cloud-Based Software Licensing can improve operational efficiency and sustain competitiveness
INSPIRE students with ATC Foundation
Do you remember the first time you saw a piece of technology and wondered to yourself, "How the heck does that work?" If you were lucky, you had an adult around who really knew their stuff. If you were fortunate, you had the resources to take things apart and figure it out for yourself. And if you were neither, it may have taken years before you ever had the opportunity to find the joy in discovering or building something new and exciting.
The Austin Technology Council Foundation's goal is powerful in its simplicity: we're to help connect exciting STEM (Science, Technology, Engineering, Math) based programs with the tech-minded individuals they sorely need. We want to help provide the manpower needed to inspire the next generation of the tech workforce.
I would like to invite you to engage in our work by visiting the new ATC Foundation website, www.austintechfoundation.org and clicking on the “volunteer now” button or tab. You will find a short survey that will allow you to input your preferences, and then our team will match you with upcoming opportunities and keep you informed. We have exciting opportunities with schools as well as out of school time programs that will be revealed soon.
We've already received a large amount of excitement from both volunteers and program directors, and are happy to announce that we're currently looking for volunteers for the Fall! Please email me at firstname.lastname@example.org if you are interested in receiving more information!
I look forward to working with each of you as we make a difference for young people and grow the tech talent pipeline.
Thank you for your participation,
Molly M. Young
Austin Technology Council Foundation
Michele Skelding: The Newest ATC Board Member
In response to addressing the need for tech engagement and a stronger voice of business in Central Texas, the Austin Technology Council and Austin Chamber of Commerce have announced they will work together to encourage and engage tech companies on policy matters and other strategic efforts.
Michele Skelding is appointed to the ATC Board of Directors and Barbary Brunner is appointed to the Austin Chamber of Commerce Board of Directors.
I’m thrilled to join the Board and begin working more closely with ATC to strengthen our efforts to more powerfully represent the voice of the tech and innovation community.
One of the best attributes of Austin is our spirit of collaboration, a huge driver of what attracts smart, creative people and companies to our entire region. With our work through Opportunity Austin, we’ve learned that when we, as an entire five-county region came together in partnership, that’s when we truly have found our success in economic development. Now more than ever, working strategically with ATC is imperative to continue fostering polices and business engagement to forward the brand of Austin as an innovation leader.
The Chamber, through its Innovate Austin initiative, will continue its mission of creating jobs, attracting and retaining talent, increasing capital, growing and diversifying the innovation ecosystem, and leveraging local universities for increased commercialization.
The Chamber will also continue to market Austin nationally and internationally through targeted recruiting and proactive outreach. This includes the activation of existing companies, alignment to targeted engagement opportunities, building on its annual A-List Award program, and legislative work to continue to bring jobs and investment, that build upon our robust tech and innovation ecosystem.
In order to create an environment where Austin’s most promising companies can reach their full potential, we need to make a concerted effort to engage our tech community to continue the momentum of the strength of Austin.
We have a strong blueprint in place. We welcome and look to our financial, tech, life science, academic and political leadership to take a seat at the table and bring their ideas, expertise and enthusiasm as we educate the local, national and international innovation community about opportunities in Austin.
By aggregating our efforts, we will be able to fully leverage the Austin story as we rise to our next level of growth.
Cloud-Based Software Licensing
In 1997, a pair of management consultants – Michael Treacy and Fred Wiersema – published a book entitled, “The Discipline of Market Leaders: Choose Your Customers, Narrow Your Focus, Dominate Your Market,” 1 which suggested companies could only become a dominant player
in their industry by achieving a proficiency in one of the following areas:
- Product differentiation
- Operational excellence
- Customer intimacy
Treacy and Wiersema believed the cost involved in gaining superiority in more than one of these disciplines was prohibitive, and recommended corporate executives focus
their resources on only one or risk becoming mediocre in multiple areas and losing their competitive advantage. Today’s business environment is even more challenging.
The competitive pressures have never been greater. Fortunately, software and technological innovation is making it possible for businesses to gain a competitive advantage and deliver on all three of Treacy and Wiersema’s disciplines -simultaneously.
Advances in the Cloud have given businesses unprecedented visibility and data on customers. Data that can help you understand your customers, better serve their needs, and in turn, increase their loyalty and lifetime value. By opening up new ways to connect and engage with customers, the result is a deeper understanding of what customers need to remain loyal, and provide high customer lifetime values.
In the past, the sale ended when the order came in. The main focus of most organizations was getting the order and hoping for repeat business in the future. Today things are different. Thanks to subscription and pay-as-you-go business models, the spotlight has to be on finding ways to make things easier for your customer and in maximizing revenue while helping them get more out of their implementations. Today the focus is on developing stronger long-term relationships with your customers.
Yet, the relationship with the customer is constantly changing. The cost of acquiring customers is just one of the reasons why many businesses have moved from just selling products to selling services. Converting standalone products into subscription services gives companies a better opportunity to build ongoing relationships with their customers. For these companies, giving customers a better experience is a key differentiator.
However, many companies fall short at the first hurdle with poor adoption of their new service-based products. What’s the reason? Often, businesses don’t know because they lack visibility into how their customers are actually using their service products and what they’re trying to achieve.
Software monetization solutions can address these issues, and do more than simply control access and permissions for software. Software monetization solutions also provide an invaluable source of information to help companies meet their customers’ needs, and keep them as customers.
Software monetization solutions can also help companies increase the value of their customer relationships. Research shows that the longevity of the client relationship directly affects the financial stability of a company. Building strong customer relationships can even reduce sales and marketing costs, as well as the likelihood that the customer will deflect to a competitor.
According to a 2014 Gartner survey on marketing's role in customer experience, 89% of marketers expect to compete primarily on the basis of customer experience by 2016.
This whitepaper will discuss the market forces that are reshaping the competitive landscape and show how a variety of businesses are utilizing cloud-based software licensing to implement a software monetization strategy to become the market leaders in all three disciplines described in Treacy and Wiersema’s book.
THINK strategies believes that the best way for a company to achieve a competitive advantage is by developing a better relationship with its customers and the first step is in leveraging technology to make those experiences and interactions easy.