Undoubtedly, 2016 was a remarkable year for the IoT and connected application. The IoT made a huge shift from connected appliances to more sophisticated areas like business management and customer service. Samsung alone invested $1.6 billion in a US based IoT company, which was a jaw-dropping contribution from this IT giant for the IoT. The availability of the IoT devices will grow by leaps and bounds in the years to come. In 2022, more than 28 billion connected devices will debut in the market with $11 trillion net worth.
Businesses will use the IoT and connected device to collect a large volume of consumer data, enabling themselves to articulate the customer needs and design their products accordingly. Needless-to-say, IoT will unveil new possibilities for businesses to enhance their customer services. Besides that, IoT will provide companies the opportunity to transform into customer-focused organizations. Gone are the days when customer information was only available through communicable devices. Now businesses can gather customer information from a more reliable source – connected devices, which has lent them the capability to understand where and how their products will be used. This innovation has indeed left marketers scratching their heads, as their jobs are already in jeopardy.
Today, the IoT is visible in daily household appliances. Research states that more than 300 thousand households in the United Kingdom control the temperature of their house with the help of mobile devices. The United Kingdom is a cold place to be, and it is hard to jump off from the bed time and again to change the setting of the room warmer. So, most people use their smartphone to control the temperature. What does this mean? The answer is crystal clear; the IoT is mostly accepted by consumers where it provides tangible value.
Being a business, it is more than essential to know how the installed IoT sensors can help you improve the customer experience. Businesses must have the ability to analyze consumer data and convert them into useful information. This is a major challenge for business in 2017. Most businesses, though turned towards IoT, have little idea about the IoT data collection and implementation.
The criteria of meeting customer expectations are raised to a new level. Customer behavior must be studied comprehensively in order to provide top-notch services. CRM solutions in conjunction with IoT devices can provide strong support to a company’s IoT network. If required, businesses have to set up new departments for the IoT and ensure all the data are being optimized to the fullest. This will not only help business to collect and store data but will aid them to create a strong security against cybercrime. This is turn will boost the security measures of IoT devices and build a strong bond of trust between the manufacturer and the customer. This, in turn, will help companies to deliver better customer service by the use of the IoT.
The world as we know it today embraces new and innovative technologies. Meaning, anything that makes life easier is accepted in the modern society. But, to keep up with the competition, businesses must have the right IoT tools to combine with their products. With a deep product analysis and implementation of right technology, businesses can offer improved customer service and build a solid goodwill for their brand.