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How to develop an internet of things strategy

Thor Olavsrud | Feb. 21, 2017
Former Amazon executive John Rossman shares his checklist for developing an internet of things strategy for your organisation.

Partner, competitor and vendor analysis

Create a map of other solutions providers in your space to develop a clear understanding of what exactly each one does, who their key clients are and what their IoT use cases are. Rossman says you should even pick a few to interview. Use this process to understand the needs of customers, the smart way those needs are already being met and where the gaps are.

Customer needs

The next step, Rossman says, is to document specific unmet customer needs and identify the key friction points your future customers are currently experiencing.

"Following the path from start to your desired outcome can help you identify details and priorities that might otherwise be dealt with at too high a level or skipped over entirely," he writes.

Rossman warns that crafting strong customer personas and journeys is hard work, and you may need to start over several times to get it right.

"The biggest mistake you can make on these is to build them for show rather than for work," he writes. "Don't worry about the beauty of these deliverables until things are getting baked (if at all). Do worry about getting at insights, talking to customers and validating your findings with others who can bring insights and challenges to your work."

Evaluation framework and scoring

Design ways to assess the success of your work.

"This includes understanding a project's feasibility and transition points and how it will tie into other corporate strategies at your company," Rossman writes. "Sometimes, especially if your organization is new to the field of connected devices, the success of your project should be measured in terms of what you can learn from the project rather than whether or not it can be classically considered a success."

You might undertake some early IoT initiatives purely to gain experience, with no expected ROI, he says.

Strategy articulation

Once you have all these analyses under your belt, you need share what you've learned with the rest of your team. Rossman says he's had the most success articulating these learnings by building a flywheel model of business systems and by developing a business model.

Part 2. Build your IoT roadmap

Once you've explained your big idea and why your organization should pursue it, you need an IoT roadmap that helps you plan and communicate to others what the journey will be like, what is being built and how it will work.

"In creating your roadmap, embrace on of Amazon's favorite strategies — think big, but bet small," Rossman writes.

In other words, you need a big vision, but you don't want to "bet big." Make small bets to test your thinking. This can involve creating a prototype, a minimally viable product or jointly developing a project with existing customers and partners.

 

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