3 IoT Growth Strategies You Haven’t Tried Yet
How are your device sales going?
Growing steadily? Peaks and troughs? Flatlining?
Competition is fierce in this sector, so you need to be creative with your sales and marketing. In this article, we’ll look at some top IoT growth strategies that you may not have tried yet.
Create great product videos
Did you know that 72% of people prefer to watch videos to learn about a new product?
With fast broadband and mobile network speeds, video content is more accessible than ever. In fact, YouTube says that more than 1 billion hours of video are viewed on its platform every day.
Perhaps you’ve already got a brand video showcasing your company, or testimonial videos from happy customers, but why stop there? You’ve created all the product sheets with images and information for your new device, but a product video could be what really grabs attention. In just a few minutes a potential customer can see what your device looks like, and how it’s actually used in the real world, as opposed to simply reading about its features and benefits.
Combine it with a compelling voiceover, enticing music, and embedded links to purchase or find out more and you’ll soon be reaping the rewards.
Be seen in the right place, at the right time
IoT-focused events and shows are growing in popularity and whilst we wait for the return of live events there are plenty of virtual shows taking place around the world. But unless you’re a huge global brand you can’t afford to be present at all of them.
Instead, you need to do your research and understand which events are likely to be the most beneficial in terms of brand awareness and product sales. Find out who the event organizers are, and if it is aimed at your core audience. Consider how your product fits into everyday lives and think about whether you would gain more from a vertical industry event that includes IoT solutions rather than a pure IoT show.
Don’t be too blinkered in your approach and only focus on your specific industry. Events that include other sectors may provide unexpected opportunities to connect with new investors or customers. For instance, a monitoring device aimed at car manufacturers could easily catch the eye of someone in farming or healthcare.
You should also look at how well established the events are. New shows may be cheaper to attend but they are less likely to attract the big opportunities that can really drive your growth.
If your budget is tight, forego the expense of having a stand and just buy a day pass instead. Plan ahead and set up some coffee meetings with the show press to talk about relevant topics and you can get your brand in the news and build your reputation as an industry expert.
Launch cybersecurity as a feature
With cyber-attacks on IoT devices on the rise, security is becoming even more important to consumers when they make their purchasing decisions. Threats such as the Mirai botnet aren’t going to go away, and hacking groups such as APT-69420 are continuing to look for new ways to discover and exploit IoT vulnerabilities. Their attack on Verkada affected 150,000 security cameras, causing significant damage to brand trust and reputation.
It is possible to recover from a cyber breach but it’s much better not to have one in the first place. With this in mind, both individuals and big businesses are now paying much more attention to how any new connected devices can affect their overall security and privacy.
The best way to reassure customers is to offer cybersecurity as a feature of your devices so that they don’t have to worry about it themselves. But this involves a level of IoT cyber expertise entirely separate from that required to develop the main features of your products.
That’s why it makes sense to engage with a security specialist such as Firedome to look after this aspect of your product. The Firedome IoT Security Platform provides comprehensive protection against malware, denial of service, cryptojacking, and identity misuse. Our Security Operations Center provides proprietary machine learning technology, deep analytics, and ongoing intelligence so you and your customers can be assured their data is in safe hands.
As the IoT sector becomes ever more competitive, strategies such as cybersecurity as a feature are essential to ensuring your brand and sales continue to grow. Don’t allow yourself to be left behind.