The Internet of Things (IoT) is everywhere. Refrigerators let you know when you’re running low on milk. Watches log biometric information about you. Smart cars are starting to take to the streets. Connectivity is growing, and more and more products are being developed that utilize the Internet to make our lives easier. It is estimated that spending on IoT-related hardware will reach $7 trillion by 2020. So how can your South Florida company cash in on the IoT boom?
Stop Thinking Hardware, Start Thinking Software
Developing products and hardware is expensive. Leave that to everyone else. Instead, think about the software and the services you can offer consumers. After all, IoT isn’t really about the gadgets and appliances themselves, it’s about the services that can be sold to make those appliances and gadgets indispensable to the owner.
The most basic example of IoT as a path to sell services is Apple. The iPhone and now Apple Watch are conduits through which Apple sells a variety of other services on platforms like iTunes, the App Store and Apple Health Kit. Amazon has a similar model with its Kindle Devices. Through the hardware, users join Amazon Prime to watch video and stream music, they pay for monthly book subscription services, and of course, they save money on shipping when they choose to buy products through Amazon, thanks to their annual subscription to Prime.
Get Ready to Capitalize on IoT
Our economy is shifting. We’re producing far less “stuff” than we did 30 years ago, and we’re now producing more services. To offer IoT-based services to more customers, South Florida companies must be ready to:
- Sell Smarter – Competition is tough online. Develop a full process and program for connecting with consumers, tracking them from interest to purchase, and then nurturing the relationship after the sale.
- Always Be Launching – Everyone wants the newest thing. Success doesn’t come from launching a single app or service, it comes from constantly offering bigger, better, faster solutions. There is no resting when it comes to IoT.
- Stay Nimble – Consumers want to control their interactions with companies, but they still demand personalized attention. To stay nimble and responsive, it is wise to work through the cloud so that processes can scale quickly as the needs and the demands of consumers change.
In order to capitalize on tech trends like the Internet of Things, South Florida companies must build forward-thinking, passionate IT teams that are constantly innovating. At Cutting Edge Recruiting, we understand the challenges that businesses face on several fronts, and our recruiting solutions will connect you with top talent that will help your business grow. We retain an elite network of IT talent in South Florida, and can help you build the team you’re looking for. Contact us today for a consultation!