Tag: vendor

management considerations for IoT subscription models

Six Management Considerations for Planning IoT Subscription Models

Posted on Benson Chan2 CommentsPosted in Best Practices, Business Models, go-to-market, Internet of Things, sales, Strategy

One common monetization approach for today’s IoT solutions is the subscription model. While it provides an attractive recurring revenue stream, subscription models require major investments in resources, time, capital and management commitment.

In this blog, we’ll highlight six key strategic and critical considerations managers must address when planning and building IoT subscription models. These considerations will determine whether the IoT subscription service is successful or not.

The secrets to successful partnerships in the fast changing IoT market – Part 2

Posted on Benson ChanLeave a commentPosted in Best Practices, Execution, go-to-market, Innovation Management, Internet of Things, Partnerships, Product Management, sales, Strategy

Today’s IoT market is very dynamic, continuously evolving, and fragmented. No single vendor has a connected IoT stack. Partnerships are a critical business capability that IoT vendors must develop in order to be relevant in this type of marketplace.

This post, the second of two parts, describes ten best practices that vendors should use when forming and managing partnerships with other IoT partners.

iot buyers

Selling IoT – Who Is Your Real Buyer?

Posted on Benson Chan5 CommentsPosted in Best Practices, FAQs, go-to-market, Internet of Things, sales, Strategy

You found product-market fit and built your Internet of Things (IoT) solution. But do you know who your buyer is?

IoT solutions create value that cut across organizational boundaries. Identifying a single buyer or owner in today’s traditionally structured organizations is difficult. Unlike IT where there is a centralized buyer, IoT buying is decentralized.

This post describes the reasons for this, and provides six best practices for selling IoT solutions into corporate organizations.

Buying IoT from startups

Buy smart: best practices for sourcing IoT solutions from start-ups

Posted on Benson Chan3 CommentsPosted in Best Practices, Internet of Things, Strategy

A lot of the innovation around Internet of Things (IoT) is coming from start-up companies. But how do you buy a solution when the technology is still evolving, the use cases are emerging, and the company selling it may not be in business a year from now? Your “tried and true” sourcing practices that you use with your more established suppliers will actually increase the risks for both you and the start-up company that you are buying from.

This post describes the three main risks and highlights ten new strategies for buying IoT solutions for start-up companies.