Industrial IoT market issues

Issues (What we’re
Implication Possible Reason(s)
“Our corporate IoT/DT strategy isn’t getting through to the field/sales force, and they’re just not putting the message out to their customers”. Although we’ve worked out the corporate strategy, the industry marketing/sales teams aren’t selling it to customers so they’re not buying. The field force don’t understand the technology or how to apply it.
“Our customers don’t want to hear about ‘IoT platforms’ or ‘Digital Transformation’; they think it’s just hype”. The sales teams can’t get meetings with cynical influencers or decision-makers, so they concentrate on selling what they already have and know. Customers don’t think ‘IoT’ or ‘Digital Transformation’ will deliver value, or they’re afraid of ‘death by pilot’.
“Even though they want to use IoT in an application, our customers get confused by all the different ‘IoT’ offerings”. Customers tend to delay buying if they are confused. Unclear explanation of what is being offered, what the costs are and implementation requirements.
“We don’t know what are the ‘hot’ market areas to go for; IoT can be applied in so many markets and industries…” It’s not clear where to focus the marketing / sales effort. Insufficient understanding of the relative cost-benefit of IoT in different market areas (also, the market is immature so difficult to measure/predict).
“I don’t trust anyone’s industrial IoT numbers or methodology” How can sales managers build a credible sales plan that everyone believes in? Lack of reliable, granular market data.

“We don’t know how to go about implementing an ‘IoT’ or ‘DT’ solution, nor even the prices and capabilities of the products on offer” Customers tend to delay buying if they are confused. The available solutions are not described or made available in the way the customer wants. 
We can’t show a RoI / it’s not a priority.
We don’t have a budget…
We don’t have the skills to implement IoT or Digital Transformation.    

Check Industrial IoT and Connected Applications Market Portfolio here

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