In this article, the author presents nine key questions business should ask when considering how to monetize the Internet of Things and explains how to use the answers to shape their pricing strategy. These questions may differ across different types of solutions or businesses, but cover the essence of what should be answered when considering price.
The transformative nature of IoT (Internet of Things) technology means that pricing your offering accurately is a complex challenge that can only be resolved with understanding customer’s value perception. Getting the price right can make a significant difference between a failed experiment in pushing new technology into an unreceptive market or a viable offering with high ROI and extended customer relationships, as this article explains.
In this article, the author explains the critical role that pricing professionals play in the Industrial IoT (Internet of Things) space. In the world of IoT, the pricing nerd is not simply the person who slaps a price tag to cover costs, he explains, but is the choreographer of value. This industry specific example provides insight into how pricing practices can influence profits in multiple business models.