From Connecting Products to Transforming Entire Businesses

From Connecting Products to Transforming Entire Businesses

Episode 7

Electric Imp sells product connectivity as a service to OEMs who want to connect, operate and manage their devices from the cloud. While starting in consumer IoT, particularly home automation, they have found their current sweet spot to be in industrial IoT.

Their customers are doing “clean sheet” designs or field retrofits or both. Bryan explains how his customers can get into the product for free, during lab tests and trials and scale into an “Imp Month” service fee based on, per device per month connectivity. He reasons the cost of connectivity is minimal when amortized over the life of the product and when balanced with the incremental revenue opportunity.

Watch this video to see Bryan Kennedy explain that the true value of connected products isn’t from the connectivity but from transformation changes it can have on your entire business.


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