Many people have a smartphone and can no longer live without it. An increasing number of people now own a smart appliance or even smart home based on voice assistants such as Alexa or Siri. Businesses are also making better use of the billions of intelligent devices which are connected all around the world in an Internet of Things universe.
1. Understanding the customer base
The power of IoT lies in data and its ability to obtain tremendous amounts of data, quickly. It can serve as a marketer’s dream. Data captured from within local devices or by cameras located on the floor of a retailer can be used to monitor – practically in real-time – the behavior of a customer at every stage of their journey as a consumer researches, purchases, or provides after-purchase insights. IoT equips a company to get to know customers on a level never thought possible 10 years ago, thanks to the swathes of data now available to collate. This relationship will only get closer as well, assuming businesses continue to adhere to privacy rules and regulations and keeps personal information anonymous.
2. Improving the customer experience
Once a business has data on customers it can start to improve the customer experience by tailoring processes to meet their expectations. Second guessing a customer’s needs can be a thing of the past as the businesses remain tuned to their movements and habits, responding to required changes in real-time. These IoT-delivered insights enable them to provide a truly personalized customer experience.
3. Maintaining the relationship
Connected smart devices and appliances mean businesses can stay in contact with their customers long after a sale has taken place. Scheduled maintenance appointments and targeted product offers are just two examples of IoT enabling a business to develop their relationship with the consumer after the initial interaction. Further data means they could even create specific new lines or products to meet the ever-evolving demands of their customer base.
4. Using IoT in the workplace
IoT easily extends to improving the life of a business’s workforce. Logistics, warehousing, tech and supply chains will all benefit from such technological advances to increase productivity and efficiency, serving the customer faster. Entirely new directions for a business become a possibility as many manual tasks become automated, and the workforce is available to carry out more detailed and thought-based duties.
5. Reducing energy costs
The improvement to the bottom line doesn’t only apply at a staffing level. A network of smart appliances can automatically manage lighting or air conditioning systems across an entire group of offices and warehouses. Empty rooms unnecessarily heated or lit all day can waste important energy, something smart themostats and light sensors can keep in check. IoT can help a transport fleet deliver a product faster helping avoid costly traffic jams.
