Jul 21, 2015
Yossi's blog first appeared in IoT Evolution.
Communications service providers are right there in the thick of things with M2M communications and the IoT. Platforms and applications are critical, of course, but nothing gets done without reliable connectivity. That makes service providers an indispensable part of the M2M/IoT ecosystem.
However, simply being there isn't enough. Service providers must implement strategic and operational shifts in their businesses to capture and maximize M2M/IoT revenues. With the right strategy, they could actually own larger portions of the M2M/IoT ecosystem. Already we're seeing service providers build closer bilateral relationships with module and device makers to industrialize M2M and stabilize profitability. It's essential to gather, analyze and distribute the vast amount of data generated by M2M and drive sales, investments and innovation for this margin-driven business.
The question is how can service providers entrench themselves more deeply within this market? They need a solid foundation and a business strategy that encompasses five key elements:
Providers can lead the M2M evolution and provide a leading edge to vertical partnership and innovative business models. So how do we get there?
Short term – providers need to strategize, conduct market research and make an initial assessment of their business, technology and operational strengths and challenges.
Longer term - providers need to implement a business strategy that accounts for organizational structure, billing systems and pricing review, marketing and sales tactics for both residential and business services, and a strong partnership plan. They also need a technology strategy that focuses on backend systems and network capacity bandwidth.
M2M has the potential to open new streams of revenue for service providers by monetizing existing network assets in a brokered ecosystem and reducing cost. Now is the time for providers without a foot in the M2M/IoT door to make their move, and those with existing strategies to make sure they have incorporated all of the key elements above to ensure future success.
To find out more information on how Excelacom can help your company get involved with IoT, please email us at email@example.com.
Yossi Abraham was the former Chief Marketing Officer at Excelacom. As Chief Marketing Officer, he was responsible for the global strategy, planning and execution of all aspects of Excelacom’s marketing efforts and the Century product suite.More about Yossi
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