Selling M2M

So, you have that big meeting...

First, let's recap:

In 101, we spoke about some different hardware options for connecting remote devices to the cellular network.  Watch the webinar...

In 201, we spoke about some of the key IoT applications you may wish to look at. 
Watch the webinar...

In 301, we talked about some of the lesser-targeted vertical markets for IoT. 
Watch the webinar...

Now, in 401, we are talking about what you say when you get that meeting.  And, this really does matter.  I mean, the CFO may not have the same pain points as the VP of Operations who may have a different motivation than the CMO. 

As always, you can watch the video webinar now...


Here are some key things to know when you make your pitch:

CEO

Ok, so you got the big cheese to attend the meeting...way to go.  Now what?

First, they are particularly focused on things such as the overall corporate strategy, corporate governance and improving the bottom line.

I would focus a few key things...the coolness factor does matter here.  They are concerned about the corporate image more than just about anyone.  As well, you want to talk about any sustainable advantages that the solutions may bring.  Finally, they do care about the bottom line...talk about how it helps it.

I would try to avoid anything too nerdy and I would not delve too far down into the details.

 

CTO

Basically, a Nerd who understands business...they are the most likely C-suite member to go to ComicCon willingly.

You want to focus on some key points...Security is paramount.  I would also talk about how it can improve both the productivity of all workers, and especially how little it may impact their team.  I would focus a little on the "green" aspect of the solution.  Finally, interoperability and tech support are definitely on their brain.

They may not be as concerned about things such as improved safety and cash flow as others. 

CFO

Their job is to watch the bottom line.

You should focus on how it makes their life easier....quicker payments / better billing means better cash flow.  I would also talk about how it helps to lengthen the life of assets in the field and how it improves productivity,  Finally, if your solution can reduce their compliance/liability concerns, it will be well received.

I would avoid anything too nerdy and avoid focusing on what is cool (just focus on what works). 

VP of Sales / Pricing

This may or may not be the same person.

They are concerned about a few things....maximizing profit margins, knowing about customer issues earlier to avoid surprises, better updates on shipping and how to improve billing options to maximize value . For example: Can we offer financing or leasing?

They want better information from the field, so focus on that.  Don't focus on anything that is too nerdy or may involve integration issues.

Head of Production / Design

They are always looking for better information....how are people using the product, what can we do to improve it for better customer response, how can we take unnecessary costs out....stuff like that.

Talk about how IoT allows them to better gather real-time usage from the field.  This will allow them to better understand things like maintenance intervals, possible recalls/issues, ways to optimize resources.

I wouldn't focus on much else... 

VP of Operations

The person who is responsible for more "numbers" than just about anyone....levels of inventory, procurement prices, customer service levels, shipping and receiving costs...pretty much all numbers.

They want to reduce customer service issues, cut waste out of the channel, improve quality control, eliminate build and delivery issues and detect any issues before they happen.

They are going to love getting better data.....things get lost less often, products get delivered more accurately...they are aware of any major issues earlier and they get to better know how products are used to improve product control.

I would stay away from Sales and Marketing stuff....they won't care. 

Customer Service Executive

Not the easiest job in the world....these guys are always looking for help.  Their department tends to be a "cost" to companies, so they are not always given as many resources as they need.

They are concerned with metrics such as First Call Fix, they need to get accurate information as to the status of systems, deliveries and more.  They are also looking for ways to better utilize resources and often to fix things remotely themselves (such as by resetting devices).

They would love to fix things quickly, so better information is the key.  They also need to know if there are any major issues on the horizon (such as escalated failures in the field), something that M2M solutions do very well.  Finally, they want to be able to better share their findings with other departments, something an M2M solution can do.

They are concerned about doing more with less....I wouldn't talk about how M2M solutions can drive more business, as they will just see it as more work!

The Bottom Line

I hope you enjoyed Novotech's short series of webinars/posts.  Over the next little while, watch for more of these focusing on particular applications/markets in greater detail!