How can you Monetize the Internet of Things?

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5 Tips to Get Started How Can You Monetize the Internet of Things?

Transcript of How can you Monetize the Internet of Things?

Page 1: How can you Monetize the Internet of Things?

5 Tipsto Get Started

How Can

YouMonetize

the Internet

of Things?

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Especially if you manufacture intelligent connected devices.

Traditionally each device model stood alone, and changing functions required a new device.

Things are changing.

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Now users demand more.

Users are less interested in

devices and more interested in

flexible solutions:

• More functions next week

• Cost savings next quarter

• Increased speed and

capacity next year

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The Internet of Things (IoT)…

…is driving new business models!

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IoT isn’t about selling physical devices.

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It’s about leveraging the software in your device

to provide a “service” and “value.”

Functions, flexibility, speed, capacity,

timely upgrades...and more.

Device-Centric Model

Specialized physical device

vs.

Static product

Flexible ecosystem: device, software,

capacity, speed, etc.

Platform for variable offerings

User can develop new use cases

Service Model

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It’s a new way of thinking.

to your software,

the firmware and applications,

that drive functionality

and value for users.

shifts

Instead of focusing on the physical device,

the spotlight

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change its functions via licensing and the cloud.

Without physically changing

the device, you can

So the customer always has

“exactly what I need.”

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licensing & entitlement management

is the key to unlocking value

In that approach,

It’s how you enable your IoT strategy.

Licensing Entitlement Management

Defines the contractual

relationship with the customerDetails the specific capabilities the

customer can access—what, when,

how much, for how long, etc.

&

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these 5 tips can point the way

If you’re wondering how you might leverage your

current intelligent devices and apps

to higher revenues, competitive advantages,

and lower costs.

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1. Simplify

2. Differentiate

3. Drive Revenue

4. Grow Your Market

5. Protect Your IP

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Simplify

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1 Simplify• Ship a single device model (or just a few) containing

all configurable functions, rather than a separate model for each product tier, customer segment, or other market need

• Turn features on and off to create ‘exactly right’solutions - licensing & entitlement management technology makes it easy and secure

TIP

Leading building technologies

company went from hundreds

of SKUs to just a few,

simplifying manufacturing,

inventory, and distribution.

Read the story

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Differentiate

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2 Differentiate

Fast customization - quickly

create unique, high-value solutions

Niche solutions – differentiate with software

and monetize the value

Speed to market - roll out new

“models” before competitors

Flexible pricing - provide multiple

licensing options (concurrent, floating,

subscription, usage-based, overage, etc.)

Easy to buy - offer evaluations

without risking your IP will be stolen

Free trials and on-the-fly

reconfigurations give Convey

Computer’s hybrid-core servers

a competitive edge.

Read the story

TIP

Strengthen your competitive edge using

effective licensing & entitlement management

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Drive Revenue

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3 Drive RevenueTIP

Device

Software

Licensing

Use licensing & entitlement technology to:

• Create a self-serve portal for customers

• Configure and test new pricing models

• Capture data on customer usage patterns to

- Spot up-sell/cross-sell

- New product opportunities

Quickly create new product

configurations and license models to

take advantage of new revenue

opportunities…

Read the story

+

+

= New and recurring revenue

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Grow Your Market

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4 Grow Your MarketTIP

• Meet regional or individual customer requirements by quickly ‘slicing and dicing’ product features, capacity, and more

• When entering a market, trial usagemay give you traction. Licensing & entitlement automation makes that easy, while protecting your intellectual property

• Re-consider niche opportunities that once seemed too small or fleeting. The ease of creating Lite, Standard and Premium packages may bring some of those incremental opportunities within reach

The IoT makes it

easier to move fast

and build

momentum in

new territories or

industry segments.

A leading global specialist in energy

management needed a Software

Monetization solution that would give the

company flexibility to quickly adapt and

take advantage of new business

opportunities such as the Internet of

Things by standardizing software licensing,

entitlement management and delivery onto a

single, consolidated platform across its

traditional and digital software business.

Read the story

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Protect Your IP

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5 Protect Your IPTIP

...protects against

piracy while giving you

product, pricing, and

service flexibility

across the IoT

...lets you protect your

IP on virtual solutions

with customer-specific

usage-based trust and

enforcement strategies

...enable customers to

self-serve for feature

upgrades with accurate

and timely data sent to

your back-office system

CPU Tech needed to protect their intellectual property while allowing the customer to

operate in a classified/ secure area without internet access.

Read the story

Effective licensing & entitlement management...

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• Shift your focus from the physical device to one of software, the firmware and applications, that drive functionality and value for users

• Build one device model with all capabilities, turn features on/off to create ‘exactly right’ solutions

- Simplifies manufacturing, inventory and distribution

- Differentiates, improves flexibility and customer satisfaction

- Drives new and recurring revenues

• Use licensing & entitlement management to enable your IoT monetization strategy and protect your IP

If you manufacture

connected intelligent devices,

the Internet of Things offers opportunities.

To monetize the Internet of Things...

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Flexera Software's Software Monetization solution, powered by purpose-

built licensing and entitlement management technology, supports IoT

success by making it easy to monetize embedded software through flexible

pricing, packaging and licensing. It also protects IP and reins in

unauthorized software use to prevent revenue loss.

Use Licensing and Entitlement Management

to Capitalize on the Internet of Things Opportunity

www.f lexerasoftware.com

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