IoT is still in its early stages so marketing IoT companies might be a bit different than marketing more traditional companies? Would you agree or disagree?
Is there a single best advice you would give to an IoT founder? What is the best way that she/he can get a product out there and help consumers understand it? @kyudlee
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@mposada
No single best advice that isn't trite or that simply lets me satisfy the itch to tee-up some Bruce Lee quote... “Do not pray for an easy life, pray for the strength to endure a difficult one.”
B2C IoT has more options than B2B who have to crack much longer sales cycles but there are some larger entities looking to play nice with startups connecting them to larger enterprise -- hit me up if you're Industrial Internet of Things focused.
For consumer facing IoT products like wearables, home automation, consumer electronics, toys, etc. there are all sorts of strategies and tactics to test channels and find pockets of early adopters.
1) THINK LIKE A RETAILER sourcing product to your target customer personas…
(spoiler alert -- growth hacking tips included in links below)
- www.shopify.com/blog/13102477-the-10-best-places-ecommerce-entrepreneurs-go-to-find-product-ideas
- www.shopify.com/blog/12932121-what-to-sell-online-8-strategies-for-finding-your-first-product?
2) ALWAYS BE GROWING YOUR NETWORK with an emphasis on social media…
- So you can test all sorts of things like value prop* and segments via paid experiments, curating content, and publishing original content.
- To target influencers and media.
* strategyzer.com/books/value-proposition-design
3) GET YOUR IP IN ORDER…
- www.inc.com/christina-desmarais/how-to-protect-your-intellectual-property-when-crowdfunding-5-tips.html
- talk to an IP lawyer and google for more advice on questions to ask yourself and any legal council
4) CROWDFUND IT...
- I advise @KarmaKrowd (launching Q4 this year) and so recommend them because they're focused on consumer products that intend to be ongoing scalable businesses and that actually offer ways to reduce risk from IP to post campaign success. And, because most know the other options.
- The exercise of rewards based crowdfunding forces serious thinking and preparation around customer acquisition and fulfilling product. Crowdfunding attracts media, influencers, and trend retailers.
- Crowdfunding requires a good explainer video.
That's a good start anyway. I'm sure to add more to this. Just wanted to respond quickly... since speed is a virtue I espouse.
www.firstround.com/review/speed-as-a-habit/
helpful?
Mitch aka 'mentoring at speed'
https://wiselike.com/mitchell-posada
