Lessons Learned from FAVORIOT’s IoT Adventure: Pivoting Markets and Adapting Solutions

March 13th, 2023 Posted by BLOG 0 thoughts on “Lessons Learned from FAVORIOT’s IoT Adventure: Pivoting Markets and Adapting Solutions”

FAVORIOT, an IoT company, has been on an exciting journey since its first IoT product, Raqib, in 2018. Raqib received valuable feedback from users and potential customers, and FAVORIOT had to decide whether to enhance the current development or build a new one. While still improving their second product, Favorsense, and their third product, the Favoriot IoT platform, they decided to trust their instincts and build their fourth IoT product, Dscover.

The problem statement for Dscover was to track an individual for safety purposes, especially during travel. Raqib was initially designed as a single-device solution for tracking, but finding the right market for this product was essential. During the customer development process, FAVORIOT identified that the travel and tourism market was the best fit for Raqib. Raqib’s mobile app solution was well-suited for this market, which was vast and active before the Covid-19 pandemic hit in early 2020.

How-To Use Dscover

However, the travel and tourism industry was severely affected when the pandemic struck. FAVORIOT had to pivot its market to a family and friends app, which was challenging due to the B2C model. Social media channels such as Facebook, Instagram, and Twitter were used for targeted ads, and the user’s demographics were identified. But the initial name for the product, D’scover, was challenging to search for in the App Store due to the unique spelling. Hence, FAVORIOT changed the name to Dscover, which made it easier for users to find the app.

FAVORIOT’s journey has not been without its challenges. The IoT solution for Dscover was challenging, and FAVORIOT faced marketing and sales hurdles before building new products. However, the company has learned valuable lessons along the way, and they plan to share more about their journey in future blog articles. As the IoT market continues to grow, FAVORIOT intends to be a leader in this industry with their four IoT products, each with its strengths and weaknesses.

Peace of Mind Using Dscover
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