Navigating IoT Challenges with LoRaWAN: Sales, Readiness, and Strategy
The Internet of Things (IoT) is transforming industries worldwide, and LoRaWAN has emerged as a leading connectivity protocol for IoT solutions. However, successful IoT adoption requires more than deploying devices and collecting data. Real-world IoT projects often encounter challenges like organizational readiness, deployment delays, and unexpected costs.
Ashley Pope, VP of Business Operations at Oxit, and Dave Smith, VP IoT Solutions at GetWireless, shared their insights on these issues during a candid discussion. Here’s a breakdown of their key points and actionable advice for businesses navigating IoT with LoRaWAN.
Watch this discussion at the LoRaWAN World Expo 2022 for detailed insights from Ashley Pope and Dave Smith on navigating IoT readiness, deployment delays, and data strategies.
IoT Readiness: Assessing the Starting Line
Before launching an IoT solution, companies must evaluate their readiness across multiple departments, from finance to IT to customer support. Many organizations excel at developing technical solutions but stumble when integrating them operationally.
What Is IoT Readiness?
IoT readiness refers to a company’s ability to adopt and scale IoT solutions effectively. This includes ensuring departments are equipped for tasks like subscription management, billing, and technical support. Companies without a clear IoT strategy risk project delays and inefficiencies.
Conducting an IoT Readiness Assessment
Ashley and Dave emphasized the value of third-party readiness assessments. These unbiased evaluations identify gaps in capabilities, helping businesses avoid costly surprises. For instance, finance teams accustomed to capital expenditures (CapEx) may struggle to transition to subscription-based (OpEx) billing models common in IoT.
For additional insights into IoT readiness and deployment strategies, check out this resource from the LoRa Alliance, featuring Ashley Pope and Dave Smith.
Overcoming Deployment Delays
Deploying LoRaWAN solutions can be challenging due to factors like security missteps, supply chain disruptions, and feature misalignments.
Security Challenges
LoRaWAN offers robust protocol-level security, but gaps in key management can derail deployments. Mismanagement of security keys—such as inadequate storage or dissemination—can lead to audit failures or deployment bans.
Feature Fragmentation
Ashley shared an example of feature fragmentation: companies designing products based on assumptions about customer needs, only to face last-minute changes. Engaging end users early in the design process can prevent these costly adjustments.
Supply Chain Flexibility
Unexpected material shortages, such as the unavailability of plastic for injection-molded cases, often cause delays. Dave suggested building flexibility into product design to adapt to unforeseen supply chain issues.
Adjusting Your Message to the Audience
Selling IoT solutions requires tailoring your messaging to different stakeholders. Engineers may prioritize technical specifications, while CFOs focus on ROI and costs.
Know Your Audience
Sales teams must differentiate their approach based on the decision-maker. For municipalities, the focus might be on cost savings and operational efficiency, while enterprises often prioritize data security and scalability.
Anticipate Common Questions
Patterns emerge when working with specific industries. Municipalities, for example, often ask about long-term operational costs, while enterprises may inquire about data monetization opportunities. Anticipating these questions can improve client engagement and build trust.
Understanding Hidden Costs
Subscription Management
Subscription-based IoT models introduce new challenges for companies accustomed to traditional CapEx models. For example, firmware-over-the-air (FOTA) updates, essential for maintaining device performance, can consume up to 10% of a device’s battery life—impacting profitability if not planned for.
Regulatory Challenges
LoRaWAN deployments are subject to regional regulations, which can change unexpectedly. Without FOTA capabilities, companies may face costly device recalls to meet new compliance standards.
Data Scalability
Collecting and storing excessive data can drive up costs. Businesses should focus on actionable intelligence, leveraging data to inform decisions rather than hoarding unnecessary information.
Strategic Data Management
The Importance of Actionable Data
Dave highlighted the power of actionable intelligence. For example, predictive maintenance solutions can analyze time-series data from sensors to forecast equipment failures, saving companies significant downtime and repair costs.
Future-Proofing Data Strategy
A scalable data strategy ensures IoT solutions remain adaptable to future needs. Businesses can integrate AI and machine learning to unlock additional value from existing data, enhancing efficiency and decision-making.
The Role of Industry Alliances
Leveraging the LoRa Alliance
Membership in organizations like the LoRa Alliance offers access to valuable resources, including whitepapers, webinars, and industry insights. These tools can inform marketing and sales strategies while keeping teams updated on technological advancements.
Collaborating Across Ecosystems
Ashley and Dave underscored the importance of partnerships with network providers like Everynet and Ready Wireless. These collaborations can simplify connectivity, reduce deployment costs, and enhance scalability.
Conclusion: Preparing for Success with LoRaWAN
Navigating IoT challenges requires a proactive approach to readiness, deployment planning, and data management. By addressing potential obstacles early and leveraging partnerships, businesses can maximize the value of their LoRaWAN deployments.
Take the Next Step
- Ensure your company is IoT-ready with a professional assessment.
- Avoid hidden costs and scale your IoT solutions confidently with Oxit.
- Join the LoRa Alliance to access cutting-edge resources and expand your ecosystem.