3 Ways Retailers Can Move Towards Monetizing the Internet of Things

2. Leverage IoT to boost your recurring revenue. The advent of these new services via the IoT fits perfectly within the concept of recurring revenue — i.e., repeat sales that are predictable and stable well into the future managed by monthly subscriptions and other recurring forms of payment.

With recurring revenue, you retain your customer over a long period of time, perhaps a lifetime. It's no longer one sale and done, wondering if the customer will come back to make another purchase.