Why CPQ is crucial for IoT Monetization Strategies?

We believe that digital transformation has triggered not only technology-driven infrastructures but also a unique monetization renaissance. Through the last decade, we have observed a strategic evolution to a destructive competition where service providers have been positioned as major game-changers. As a critical outcome, the roles of service providers will go beyond providing infrastructure only, their commercial challenge and competitive positioning will be beyond comparison.

According to recent researches; by 2030, service providers will have a potential 35% incremental revenue growth opportunity. And Telco IoT services will take an important share within this growth opportunity.

The strategic outlook is so far so good. But the critical question is how actually service providers will monetize this opportunity. The answer has many dimensions and is conditional. In this article, we focus on telco IoT monetization from a crucial perspective: multi-channel experience consistency.

IoT solutions, by definition, have a complicated background which is a delicate collection of different tangible and intangible layers. Additionally, competition brings another layer – multidimensional customization of the mobility which will bring another customer experience challenge for service providers especially designing telco IoT service – proper service configuration and customer pricing.

Although service providers have flexible infrastructure which allows such customizations, it is evident that effective sales processes need to be developed to monetize profitable IoT telco business. Customization will bring numerous purchasing options, and hence service providers will create pricing breakdowns such as micro-locations, time slots, service levels, support, and device types, etc. Because of all this evolution, service providers will have to revise the usual methods in sales processes. The whole process needs to be managed with a smart methodology, which is CPQ.

Telco IoT service variety possibilities should be managed to optimize end-user experience as well as profitability and operational excellence.
Besides, 5G IoT installed endpoints will reach 49M units in 2023 according to researches. Hence CPQ will be needed for dynamic seamless IoT service management for service providers. 

In an uncharitable market competition where speed will be so prominent, it is necessary to set pricing as a variable that has a significant effect on the profitability of all parties. At this point, CPQ is the strongest and proven solution.

Etiya, like its many other technologies, has already designed its CPQ for the best experience for telco IoT services as well. Etiya CPQ has a seamless integration capability with any IoT service structure to manage the complexity of generating multiple service options and combining them into a single quote with the best dynamic pricing option.

Service providers need to provide a solid, trustworthy multi-channel experience for IoT services. Etiya CPQ is the perfect product for such a critical growing IoT business.