Successful Monetization Models for your IoT Products and Services

Hi, we are interested in knowing about your experience in trying to monetize your solutions, services or products (“Solution” in short here onwards) in IoT space. It surely seems like a challenge, since it requires fair bit of hit and trial in the market. Main reasons for that are:

1. The solution may be so new that there did not exist a prior market need for it. In such a case, you are effectively creating a market for it, and hence pricing or acceptable price points are hard to figure out.
2. The solution itself may be a amalgamation of various sub-solutions and if all of those go by usual commercial mark-ups, the overall solution may become cost prohibitive. How do you handle this situation where all involved should be commercially viable without out-pricing yourself from the market.

Do send in your comments, thoughts, experiences around it. This is going to be a big help for whole lot of start-ups in this space.

regards
Nitin (IoTForum Team).

• This topic was modified 6 years, 6 months ago by Curator 1 for Blogs.