In 101, we covered three different pieces of hardware that are used to provide the basis for cellular connectivity for M2M solutions. In 201, we talked about some of the applications that have allowed M2M to grow its reach. Now, we talk about what customers to sell to.
As always, you have the option of watching/listening to this webinar by clicking on this link: https://m.youtube.com/watch?v=rKxCe3kbgz0
Although we touched on this in 201, it is important to reiterate this. There really are only 4 possible benefits to any M2M solution for a business. All of them are good reasons to spend the money on an M2M solution:
1. Increased productivity through better access to data and less clerical work
2. Better redundancy to ensure that key systems stay up and running
3. Better track of "assets" to reduce theft and repair costs as well as to improve worker safety
4. Overall lowering of CAPEX and OPEX costs
However, each customer may have different reasons for an M2M deployment. For a business that is based on recurring revenue, it may be to provide a lower cost of service delivery to maximize its profitability. For a Public safety agency, it may be to provide a better level of communication to improve the safety of their officers.
Here are a few verticals that you may not have thought of as potential benefactors to an M2M solution:
If you think about this market, you may only see the fact that they have fixed assets and wonder why they would need to monitor things that are fixed and often have people on site. The reality is that people cannot be everywhere or see everything and this is a market that has relatively fixed income, so they need to maximize their cost saving efforts.
Here are some solutions that may appeal to this space:
- Contractor Management is vital to ensure that work is done, that bills are not excessive and that they reduce legal liability for things like snow removal.
- Optimizing HVAC systems is not only good for the environment, it is good for the bottom line.
- Sub-metering is a solution that allows the owners of the buildings to have better visibility into how each individual tenant uses resources, to more accurately bill their tenants (rewarding those who are more frugal in energy usage).
Sure, Oil/Gas companies are not immune to using monitoring solutions, but they definitely are not using them to the full extent that they could be.
This ranges from adding in more advanced monitoring solutions, to fleet management to Video surveillance to reduce unwanted vandalism. As well, they could be replacing expensive radio and landline based systems with cellular ones, as well as using better field force management solutions to capture data from the field.
I think many people have heard about how athletes and professional teams are using IoT solutions to better understand both the condition of their team's health as well as to better understand how to position players. However, it is not on the field that teams can benefit.
TV networks are using on-board telematics and graphics more than ever to enhance the viewership of sports ranging from golf to auto racing to tennis. Even stodgy old baseball is using more advanced metrics to better the fan experience, both at the stadium and at home. As well, DIY and amateur athletes are using IoT solutions for things ranging from tracking of Runner's/skiers/bikers in remote areas, to increased smartphone usage for monitoring vital signs to on-board cameras to better post your crazy activities to your friends on social media when you get home.
Like Commercial real estate, this may not be an area that jumps out at first. Most of these areas are fixed locations and are generally serviced by both people on site (often 24 hours a day) and by traditional landline coverage.
However, the use of M2M / IoT is becoming increasingly popular....here are a few examples:
- Companies are using IoT to better understand the behaviour of customers, ranging from video tracking to monitoring the path taken by carts throughout the store.
- Vending machines and kiosks are better able to maintain proper inventory levels and offer higher levels of service thanks to their use of cellular connectivity
- POS (debit and credit card) usage has expanded to mobile now with most food delivery and taxis now accepting them thanks to cellular connectivity on-board
- Smart retailers are backing up their main Internet connections with wireless modems as a way to both protect revenue and to maintain a particular level of customer service for their customers at all times.
The days of an old dude sleeping behind a desk are definitely behind us as security companies are among the heaviest users of IoT solutions.
- Most security systems have "cut the wire" backup to prevent thieves from cutting off communications by the simple use of a wire cutter
- High value assets are often tracked using incredibly small, battery-operated tracking solutions
- Video feeds are popping up everywhere, as LTE speeds have made it quite feasible to transmit live video from just about anywhere
- Finally, automated security and access control solutions are now common place with the help of IoT solutions feeding back real-time information to the people that need it.
Virtually any customer can benefit from using an IoT solution, regardless of their size. The goal with this presentation was to broaden your horizon as to the customer target groups that might use these solutions. In 401, we tell you how to pitch to the key people once you get that meeting...