If You Build it, Will They Come? Standing Out in a Crowded IoT Market

We’ve seen it before – sometimes the best ideas and superior technologies aren’t the market champions. Unfortunate? Yes. Avoidable? Absolutely. In the Lunch & Learn session today sponsored by RIoT, industry veteran, Sarah LaLiberte from Mainspire, talked about the role that networking, joint ventures, marketing, alliances and standards play in making a good idea great and a business venture successful. Enclosed is a summary of some key wisdom points shared that you can do today to improve your market position and make a positive impact on your bottom line – no matter your business’ size, age, funding or stage of development:

• Know what makes your product different and unique with clear ways to articulate and communicate this special offering to the world.
• Understand how your product fits into your company mission and the market so you can share the big picture effectively to focus on sharing a key message that matters.
• Grasp how your business concept is derived of key components like Research, Team, Fund, Market, and Launch/Evaluation then have a clear perspective and plan for covering all angles.
• Be clear with your target market. Don't just think targeting Millennials in USA. Focus on something more tangible and specific like targeting bowling alleys and people who bowl at night in Los Angeles.
• Partner with a team who knows you and your space inside and out. Work with companies and people who know your industry deeply, been in the trenches, and have clout in sector.
• Associate your product/brand with other leaders and best companies in your space so you can ride the halo effect being associated with top players. For example, at tradeshows try to get leading company brand logos next to your logo and product through shared space at booths or shared branding and messaging on collateral and signage. Explore partner marketing angles like this to help give your company more clout and credibility.
• You have to network, network, network in your space. Go to trade-shows, conferences, lunch & learns, and other events to meet people, share what you're doing, and learn. Expand your education for learning and expand your network for more relationships to make it easier to forge partnerships.
• In summary the top 3 wisdom points: Find a true challenge and problem in market that has not been fulfilled that you solve and give a great solution too. Focus on target market to reach the people with the problem you have solved with your excellent offering. Build team of experts around you to help you execute smartly, effectively, and efficiently per expertise being applied to the specific disciplines they lead for best results.

A big special thanks to the RIoT organization and Sarah LaLiberte from Mainspire for a great event!
About RIoT: RIoT connects technologists, engineers, entrepreneurs, and professional tinkerers with a stake in the Internet of Things industry — and through RIoT ED, they help these groups and their supporters learn new technologies and to create new opportunities.
About Mainspire: Mainspire is a full-service global marketing agency focused on the most innovative technologies driving the future. They develop and implement solid marketing strategies that help companies grow and improve our world.

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