Is this your IoT product story?

Entrepreneur team finds a really painful problem. You form a company and create a solution that early adopters tell you solves the problem. You build a minimum viable product and invite first customers to use it.  A minimum viable product is that version of a new product that allows a team to collect the maximum amount of validated learning about customers with the least effort.

Then what happens?

 

Everything and nothing you anticipated.  But, generally one thing is certain for you to survive – you need to acquire and retain customers.

Getting customers to buy your IoT Product…
1. Hyper focus on understanding your customers especially early adopters and build something they really value and will pay you for.
2. Use Lean Startup/UX to help determine strategy, tactics, and milestones
3. Be authentic about how you communicate and deliver that value
4. Reward loyalty — you especially need to create evangelists of your early adopters
5. Reward referrals
6. Build channel partners
7. Understand your unit economics / Pirate Metrics
8. Adopt methodologies that behave like a Build, Measure, Learn Loop — test your hypothesis early and often

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