How to Find Your Audience as an IoT Solutions Provider

The Internet of Things (IoT) has changed the way companies do business, and as a result, it’s created an entirely new market of IoT solutions providers. Due to the growing demand for interconnectivity in the workplace, the number of these types of providers has also been on the rise, increasing competition in this space.

As such, companies that provide IoT services must become more deliberate with how they go about finding new potential clients. The first step in that process is understanding what the target audience is, and this helpful guide outlines some strategies you can use to do just that.

Tips for identifying target audiences

Understand your business

As an IoT solutions provider, there’s a plethora of solutions you could offer. From installing equipment to providing ongoing remote monitoring and optimizing workflows, the Internet of Things is a broad category. So, the first thing you should do when searching for a target audience is to know precisely what services you plan to offer. A company that does one thing great will likely need to target a different market than one that does a little bit of everything.

Follow current trends

Continued education is essential in business, and any IoT solutions provider that wants to stay ahead of the competition must constantly update itself on the latest industry trends. Understanding where the market is heading can help you identify new target audiences that might not be viable opportunities currently. Research reliable resources in your specific field and stay up to date on the latest industry changes.

Network

A solid professional network is an invaluable tool for IoT solutions providers, and it can be a helpful tool for finding and reaching a new target audience. If you let people within your network know that you’re looking for new business, they can spread the word on your behalf and potentially introduce you to new clients you wouldn’t have otherwise known about. You can also see what changes their seeing in their respective fields to identify new opportunities for growth.

Use market research

Market research is a fantastic way for an IoT company to put its finger on the pulse of the people and get a better understanding of who their target audience is and what they want. Using analytics tools like Quantcast and Google Trends provides invaluable insights that you can use to adjust your marketing efforts. You can also create surveys and focus groups of existing customers to help you understand what type of audience you are currently reaching effectively and identify areas with room for improvement.

Look at the competition

In many markets, numerous IoT solutions providers are vying for the same target audiences, so it’s essential to know exactly what you’re up against. By studying competitors and what targets they’re after, you can better identify markets that are perhaps being underserved. For example, suppose a competitor tends to target one specific industry or focus on a particular service. In that case, you could advertise other services or pivot to a different sector to tap into a previously underserved segment of the market.

Are you looking to grow your IoT solutions provider business?

Then let the experts at KPI Network help. Since 2008, our reputable and proven marketing services agency has worked with F1000 and emerging technology businesses to generate awareness and leads for a variety of products and services. Through our industry-leading partners, sponsors, and vendors, we have the resources you need to identify your next target audience and close more business. You can use some of our free KPI insights to learn more, or subscribe now to stay up to date on the latest industry developments.