Wednesday, 28 October 2015

Stickiness in the IP services sector: not the same as friction

A couple of weeks ago, this weblog hosted a short piece by former Nokia VP for R&D and Director of IP, now current Aistemos consultant Donal O'Connell, about business development for IP businesses.  Here's a further piece from Donal, which offers a novel way to look at a problem many businesses experience: he calls it "Stickiness".  

But what does he mean? Explains Donal:
"No this paper is not as such about glue or adhesive. Rather, it looks at the degree to which the existing use of a product or service encourages its continued use as opposed to that of a competitor. This stickiness is sometimes called ‘lock-in’, customer retention or simply loyalty, although some would argue that these are similar but not identical.

“Stickiness” may be defined as a method of acquiring and retaining customers, by provided outstanding, products or services plus excellent customer service. Another definition is the nature of your customers to continue to use your products or services, to “stick” with you, to renew, upgrade, and never leave you.

In this paper, I shall specifically focus on the stickiness of the products or services supplied by IP Firms (those focused on the legal aspects of IP), IP Service Providers (those focused on the non- legal aspects of IP) and IP Solution Providers (those focused on IP systems, IP tool and IP data) to their corporate in-house IP function clients".
Donal's final thoughts read like this:
"Stickiness is the quality that every IP product or service needs in order to ensure client retention and build their client base into brand evangelists.

The key to thinking about stickiness is that if the corporate in-house function gets rid of an IP Firm, IP Service Provider or IP Solution Provider, will they miss you?"
This blogger notes that, even in the physical world, "stickiness" is not the same thing as "friction", although the two concepts may occasionally deliver parallel results. One should be careful not to generate static electricity by rubbing clients up the wrong way in the belief that they will stick to you by default.

You can read this five-page paper by clicking here.

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