Smart Homes Get Smarter While the Battle for the Smart Resident Gets Tougher.
Lot of unanswered questions on smart homes – How to identify market opportunities? What’s the best strategy? After several unsuccessful attempts, is it time to turn over to third party specialists? What about ownership of customer data and analytics? Reduction in churn? Additional revenue opportunities? How are dynamics changing with voice-activated digital assistants?
Handling smart homes has been challenging, and success has been very limited so far by cable operators and telco’s.
Through several years of anecdotal experience, research, and observations I have come across several keys for success – platform choice, identifying and focusing on early adopters, offering IoT as a Service, retaining ownership of subscriber data and analytics, use of digital assistants, focus on positive ROI, ensure data privacy and security, develop strategy for business-to-consumer services, and create open and inter-operable solutions, so services can be integrated.
Opinions differ on smart device priorities. Ability to identify the early adopters, and their interests are the keys to success.