258: How to Monetize Your IoT Strategy and IoT Trends To Watch This Year
I recently read how Gartner predicts that 20.8 billion connected things will be in use worldwide by 2020, up from 6.4 billion in 2016. While much of the media is focusing on IoT security being ‘a ticking time bomb’, others are seeing great opportunity.
While monetizing IoT may seem like a daunting task, here’s the good news: an organization can make the transition if it has a prioritized strategy and focus in place that puts stakeholders at the center.
Based on more than a decade of experience with brands like Philips, Stryker, Whirlpool, Herman Miller, and Milliken, a leading product innovation and business strategy consultancy called Twisthink released a great strategy guide entitled Smart, Connected, and Profitable, 5 steps to monetizing your IOT Strategy.
- Clearly define your stakeholder’s needs
- Develop new models of value creation in your organizations
- Organize people, talent, and processes around innovation
- Refine the user experience
- Create a vision
I invited Robert Niemiec onto the show to understand how organizations can start to think about how they can utilize the IoT trend to their full advantage. Niemiec also discusses the top IoT trends to look out for this year and beyond.
Robert Niemiec is a managing partner at Twisthink where he manages business strategy, day-to-day team leadership, and business development.Throughout his 15 years of entrepreneurial experience and 17 years of senior-level corporate experience, Robert has a proven track record of building high functioning & diverse teams that achieve success and deliver results so I invited him onto the show to find out more.