This paper focuses on the growing importance of offering Smart Services by manufacturing companies, which are enabled through the increasing amount of data available following Industry 4.0 implementation. Gradually, product-oriented industries are turning into service-oriented industries, where customers are much more involved in developing and delivering services than in developing and delivering products. The ability to offer Smart Services creates a competitive advantage for a company, as it can provide individually configured value-added services to the customer. However, expert interviews and work with industrial use cases show that the knowledge how to realize such Smart Services is still rudimental, in spite of high expectations. Therefore, a Smart Service Lifecycle Management is introduced, formalizing the support needs of the industry and the phases of the lifecycle in a framework, covering business, service and network elements. Parts of this framework has been successfully applied to develop a Monitoring Service for an industrial use case in video surveillance.