What Is the IoT Subscription Model, and What Are Its Benefits?
by Frank Greer on Apr 1, 2021 11:04:16 AM
The explosion of interest in IoT devices has created a wealth of opportunities for companies selling IoT products and related services. With the rise in opportunities has come a need for flexible monetization options. While a variety of business models can effectively capture IoT valu …
5 Effective Types of IoT Business Models
by Frank Greer on Mar 16, 2021 3:33:48 PM
One of the first things you’ll want to consider when planning to sell connected products is your IoT business model. Your ability to monetize the value of your IoT offerings is instrumental to your success as a business. Let’s explore the most effective types of IoT business models an …
IoT Concepts: Return Merchandise Authorizations, Cellular Subscriptions & SIM Swaps
by Ralph Heredia on Feb 8, 2021 1:41:00 PM
Navigating Product Returns with IoT Devices When selling IoT devices, manufacturers may have to issue a replacement or repair while a device is under warranty. It can be common for devices to break down due to normal wear and tear, especially when IoT devices can be found in so many d …
IoT Subscriber Churn What It is, How to Measure It, and Why It Matters
by Frank Greer on Feb 4, 2021 9:36:33 AM
The subscription billing model is ideal for many businesses because it benefits both the provider and the customer. Using a subscription model solves IoT billing challenges effectively and enables customers to pay in monthly installments instead of investing a large amount of money up …
What is an IoT Platform?
by Frank Greer on Feb 1, 2021 6:45:00 AM
IoT technology opens up tremendous possibilities for businesses. However, without a centralized IoT platform, you must identify and string together a collection of different components — which is time-consuming, difficult to manage, and not cost efficient. By using an IoT platform, yo …
How to Monetize Your IoT Product Using the Subscription Model
by Frank Greer on Jan 29, 2021 11:28:51 AM
Advancements in IoT have brought tremendous value not only to consumers but also to businesses. There are now numerous ways to monetize an IoT product, and the best way is generally through a subscription model. Here’s what you need to know about using a subscription model for your Io …
IoT Billing: How to Choose an IoT Business Model
by Ralph Heredia on Jan 12, 2021 6:45:00 AM
IoT is changing the way people engage with the world by changing how devices relate to each other. And its market growth is exploding, with end-user spending expected to be around 258 million at the end of 2020 and projected to grow to nearly 1.6 trillion by 2025. As a result, this te …
Why IoT Solutions and Subscriptions Are a Perfect Combination
by Dan Heredia on Jan 7, 2021 11:36:09 AM
IoT Solutions = Ongoing Value and Ongoing Costs The promise of IoT Solutions are the convenience they provide, the new, granular insights they deliver and the efficiencies they enable. Everyone can agree that these benefits are not delivered once, but rather all the time on an ongoing …
How OEMs Can Successfully Monetize their IoT Platforms
by Ralph Heredia on Oct 26, 2020 12:04:01 PM
As manufacturers build IoT platforms that offer compelling experiences to their customers through a combination of hardware, software and digital services, many are struggling to effectively monetize these offerings in a way that will lead to lasting improvements in their business. In …
Aligning IoT Monetization Models with Customer Value
by Ralph Heredia on Sep 24, 2018 9:09:29 AM
The most compelling new "smart" products are those that align monetization and business models with the value being brought to customers.