As the world acknowledges the power of IoT, more and more MVNOs are preparing to monetize it. There is a race to provide the best IoT services and increase revenue for the business. But IoT can be a tough technology to handle, especially for MVNOs with limited resources. It requires you to grow in different verticals and at the same time market your product better than your competitors. Add to that the threat of hackers, and you have a very tough task on your hand. Unless you partner with an IoT services provider that can support you in each one of your endeavors.
Monetizing
IoT can be a Struggle
Monetization
of IoT can be a struggle if you do not have the right billing platform. Whether
you are planning to sell IoT sensors/devices
or charge based on usage or charge as a monthly subscription, you need a
capable billing platform that can bill millions and millions of transactions
every day.
The
best way to get this task done is by using a robust and centralized platform
like OCS (Online
Charging System). An OCS not only charges every service in real-time, but
it also enforces credit limits accurately. Hence, your subscribers always get
the correct bills with all the details about service usage. As a result, it
becomes the stepping stone for a strong IoT business strategy.
IoT
Connectivity Headache
IoT
connectivity requirements are very different from traditional requirements
where high speed and bandwidth is considered to be the best. IoT connectivity
can be classified into WLAN, cellular, LoRA, satellite and many other
categories. And every type of connectivity holds certain value for a particular
business use case. For example:
·
For long-distance, you would
require cellular connectivity like 4G or 5G
·
For short distances and home
networks, WLAN connectivity will work best
·
For a retail store or warehouse,
you can use Bluetooth and RFID for tagging items
·
For a parking use case where you
have to account for multiple vehicles via sensor devices, you require low-power
connectivity solutions like SigFox and LoRA. Low power connectivity prevents
sensor discharge and makes the business venture more cost efficient.
·
For maintaining connection with
distant moving devices like ships and airplanes, you would require satellite
connectivity
IoT
Security: More Important than Anything
If
you are a budding MVNO, you might want to skimp on the cost of security to make
a quick buck. But this could be a huge mistake. On the contrary, you should
make security your USP. Make security your marketing weapon because companies
investing in IoT are the most scared about the security and integrity of their
data. If you can get them onboard by offering them a robust and secure network,
you can expect a long-term partnership and consistent revenue. In case, your
MVNO does not have the technical skills to implement robust security, then
choose the services of IoT services provider that can:
·
Offers you a variety of
connectivity options
·
Provides end to end security of
the IoT network
·
Offers unique public IP address
for every connection
·
Has access to cutting edge
technologies like OTA (Over the Air) firmware upgrade capabilities, which can
be used for upgrading already active IoT devices without taking them out of
service
·
Complete reporting capabilities,
so you can understand every aspect of your business and eliminate threats
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