IoT Monetization: 5 Best Strategies to Monetize Your IoT Solution
by Ralph Heredia on Jul 25, 2023 4:11:48 PM
In the past, OEMs primarily focused on selling physical products, but this approach is no longer sustainable for IoT products. The inclusion of connectivity and cloud software in IoT devices introduces ongoing costs for OEMs. As the demand for connected devices and data continues to r …
An Introduction to Monthly Recurring Revenue (MRR)
by Jim Greco on Jun 9, 2023 12:22:08 PM
The Internet of Things (IoT) is rapidly expanding with opportunities for new connected devices. However, the ongoing connectivity and hardware costs associated with IoT devices can pose a significant challenge for OEMs trying to monetize their products. Adopting a recurring billing mo …
What is Consolidated Billing? Benefits + Examples
by Jim Greco on May 4, 2023 12:19:42 PM
Consolidated billing allows multiple bills for the same customer to be combined into a single invoice. This approach offers great simplicity and flexibility in billing and payments for both businesses and consumers. While consolidated billing is a popular strategy for any business pro …
What Is a Billing Solution and How Can It Grow Your Business?
by Jim Greco on Mar 21, 2023 12:35:54 PM
In the world of cellular IoT, a streamlined billing solution is vital to managing and monetizing an IoT product. The IoT industry has unique requirements, such as massive-scale deployments of thousands of devices (some with different subscription start dates) and multiple relationship …
How to Sell a Subscription for Your IoT Product
by Ralph Heredia on Jan 9, 2023 12:44:09 PM
Although several different pricing models can effectively capture IoT value, one of the most popular is the subscription model since it allows businesses to monetize the value for the initial purchase and for ongoing use. Selling a subscription for an IoT product has several unique el …
What is Subscription Billing Software?
by Frank Greer on Jan 4, 2023 12:10:20 PM
Standard pricing approaches don’t fully harness the potential of IoT businesses that want to allow their end customers to activate their own devices and select their own data plans. New monetization strategies are helping OEMs capture as much value as possible while benefiting custome …
4 Top IoT Billing Challenges and Solutions
by Frank Greer on Oct 18, 2022 4:05:42 PM
Billing for IoT solutions can be challenging for a variety of reasons. Data consumption thresholds, monetization models, and even something as simple as billing periods are highly dependent on the specifics of the IoT use case. Ideally, IoT solutions companies and OEMs should focus on …
6 Great Examples of IoT in Retail
by Frank Greer on Jan 17, 2022 8:00:00 AM
Adoption of the internet of things is growing exponentially across many sectors, and that includes retail. In fact, over 70% of North American retailers have expressed an interest in reinventing their supply chain with IoT-enabled solutions. When you think of the hundreds of thousands …
Guide to IoT in Transportation (+Examples)
by Frank Greer on Sep 20, 2021 11:56:34 AM
The Internet of things (IoT) is improving the safety and efficiency of both public and private transport, benefitting municipalities and businesses operating in the transportation industry. The market growth projections for IoT in transportation are astounding, though not surprising, …
10 of the Best Examples of IoT in Healthcare
by Ralph Heredia on Aug 25, 2021 10:51:32 AM
The Internet of Things (IoT) has driven astounding innovations and advancements in the healthcare industry. IoT is redefining how and where care is provided, quality of care, and the patient experience. According to a Forbes article, an estimated 646 million IoT devices would be used …
How IoT is Changing Business for the Better
by Ralph Heredia on Jul 16, 2021 8:00:00 AM
The IoT market is forecasted to grow to an incredible $1.7 trillion by 2025. IoT has developed a well-earned reputation for redefining the consumer experience with many everyday products. However, consumers aren’t the only ones who can benefit — IoT is for businesses as well. Accordin …
Understanding the Differences in Direct Carrier Billing vs. Direct OEM Subscriptions
by Ralph Heredia on Jul 5, 2021 8:00:00 AM
As consumers, we pay subscriptions for all kinds of consumer electronics today. Companies pay via subscription for different back-office software, cloud infrastructure, and more. Because they are so popular and provide a lower barrier to entry for new customers, subscription-based mod …