We all have a SMART phone - many of us can no longer live without it! An increasing number of people now own a SMART appliance or even a SMART home (Alexa or Siri anyone?). But businesses are also making better and better use of the billions of intelligent devices which are connected all around us, in what is now known as the ‘Internet of Things’ (IoT).
But this is not a new thing and most top executives will tell you now of the transformative power of IoT - an industry already worth hundreds of billions of dollars, worldwide. Are you using it? Whether you are or not, here we discuss six ways it can change your business for the better.
1. Understand Your Customer Base
The power of IoT lies in data and its ability to obtain LOTS of it, quickly. It is truly a marketer’s dream as data captured from within local devices or by cameras located on the floor, enables you to monitor - practically in real-time - the behavior of your customers at every stage of their journey as a consumer; research, purchase, after-sales. “IoT equips a company to get to
know their customers on a level never thought possible ten years ago, thanks to the swathes of data we’re now able to collate,” says Stephen Evans of Writemyx and Brit Student. “This relationship will only get closer as well.”
2. Improve Customer Experience
Once you have a flow of data on your customers you can start to improve their experience by tailoring the process to meet their expectations. Second guessing a customer’s needs can be a thing of the past as you remain tuned to their movements and habits, responding to required changes in real-time. These IoT-delivered insights enable you to provide a truly personalized customer experience.
3. Maintain The Relationship
Connected SMART devices and appliances mean you can stay in contact with your customers long after a sale has taken place. Scheduled maintenance appointments and targeted product offers are just two examples of IoT enabling you to develop your relationship with the consumer after the initial interaction. Further data means you could even create specific new lines or products to meet the ever-evolving demands of your customer base.
4. IoT In The Workplace
IoT easily extends to improving the life of your 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 your 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. Reduced Energy Costs
The improvement to the bottom line doesn’t only apply at a staffing level. Imagine a network of SMART appliances which automatically manages your lighting or air conditioning systems across your entire group of offices and warehouses. Empty rooms being unnecessarily heated or lights being left on all day; wasting important energy will no longer be a consideration. Or your transport fleet delivering your product faster by avoiding costly traffic jams; it’s all possible now because of IoT.
6. A Remote Workforce
IoT enables many devices to be connected to the same network, and with the freedom to choose where they work an increasingly important factor for many employees, there is a great deal of possibility to expand your remote workforce with a little investment. “Flexibility with working hours and location is becoming of more concern to the modern worker” says tech
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As these six steps highlight, the Internet of Things (though still a relatively new concept in the average domestic household) has already resulted in dramatic changes taking place for customers, staff and at a corporation-wide level for the enterprises which implemented it in the early days.
Those businesses have seen gains in productivity and efficiency, as well as closer and potentially longer-term relationships with their customers.Now even organizations in non tech-related sectors are seeing the benefits of investing in and installing IoT devices into their procedures.
Where does your business fit into the future of this exciting area?
As a web developer at Phd Kingdom and Academic Brits, Michael Dehoyos assists companies deliver their marketing strategy concepts. As a writer he contributes to numerous sites and publications including academic service Assignment help.