Today I attended Brendan O’Brien’s, our illustrious co-founder, session on Monetizing the Internet of things. Even in the cacophony of Dreamforce there was a good-sized crowd. I never tire of listening to Brendan, but you could say I am drinking the Aria Kool-aid. Anyway, if you didn’t make it here are the take aways:
1. IoT is here now (not coming in the future), time to prepare
2. The Monetization of Things (MoT) = services, not the devices (devices are secondary to how you’d price and package the service)
3. It’s about collecting and applying consumption data. (It will drive intelligent go-to-market decisions, even if it doesn’t directly influence a bill!)
4. Enabling technologies are cheap; that’s good and bad because that means everyone has more access
5. Your biggest competitive differentiator will be pricing and packaging, and you need to move quickly and without having to code (You can no longer afford to wait on IT to implement your offers)
That’s it. Simple but not easy.