Fleet management software for real-time tracking
M2M In Motion monetized by charging customers a monthly recurring fee for their service after an initial equipment purchase. They also implemented a referral program that provided commissions based on the number of trucks referred, incentivizing customer referrals.
“we had gotten it up to just around 200K of monthly reoccurring revenue a month.”
“we were asking our customers to buy the equipment up front, and then they were still going to pay that monthly reoccurring fee, right? For the service.”
“We had a referral program around this because we both were believers. And if you incentivize, it will drive behavior.”
“So if they referred us to a company that had 20 trucks, they would get, you know, 20 times, one times MRC, if that makes sense.”