We are opening a LinkedIn Group on Pricing the Internet of Things. Why do this? There are many excellent LinkedIn groups on pricing. The Professional Pricing Society has a particularly good one and we are active on it. There is also a good group Internet of Things Strategy and Innovation. So why another LinkedIn Group?
The Internet of Things is going to change how we price many industrial solutions and products. It is going to do this by:
Providing detailed data about all aspects of use. This data can be used to build value models and to find new pricing metrics that better track actual value.
Enabling new pricing models. The pricing revolution that washed through B2B software with the adoption of SaaS and subscription models will have an even bigger impact with the Internet of Things.
Driving a shift to composed pricing. Most Internet of Things solutions will be bundles.
By building a community of people who are concerned with business models, revenue models and pricing models for the Internet of Things we hope to contribute to the creation of commercially viable solutions that create value for all involved.
Who should join this group? Well, basically anyone innovating on the Internet of Things, especially if they are accountable for commercial success. This includes
- Product Managers
- Chief Revenue Officers
- Chief Financial Officers
- Pricing Experts
- Innovation Consultants
Our goals for the group are to develop best practices and drive innovation on pricing Internet of Things offers especially for the Industrial Internet of Things (IIoT). At the same time, we hope to build a community of people who can share ideas and develop personal and business relationships that will mature over the coming years. We are entering a period of great change and our networks of collaborators will be of great value.
We are also kicking off an open survey on Creating Value for the Internet of Things. Please take this survey and share it widely.
We look forward to seeing you on the LinkedIn Group on Pricing the Internet of Things.