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
Telgoo5 is an IoT services provider in New York with tremendous credentials in the telecom domain. At Telgoo5, we provide accurate charging, rating and billing of every IoT service. At the same time, we let you use our existing partnerships with some of the biggest carriers in the US. We offer an intuitive B/OSS and telecom billing solution that is easy to use and supported 24×7 by our diligent customer care team.