Each minute the Internet of Things grows. More people have smartphones with the ability to act as minicomputers and 5G is available in greater areas. This means that there are many more ways to connect devices to cloud storage.
What are the benefits of IoT for companies?
Ericsson researchers discovered that 92% believe 5G will open the doors to new technology in a poll. Around 29 billion devices are expected to connect with the IoT by 2022. Businesses benefit from more efficient processes and automated repetitive tasks.
If you aren’t already honed into the IoT and how to tap into the powerful resources provided, you should be. What can you do to make your business the most of this technology?
1. Increase Customer Relationship Management
Do you know how well your brand connects with customers? The better you understand your audience, the more in tune you’ll be with what they need and how to provide it. CRM software can help you remember big events.
You can remind customers automatically when it’s time to reorder. Use tracking software to ping them with a special deal or coupon when they are within so many feet of your store’s entrance.
2. Protect yourself from theft
There are potential theft problems if your brick-and mortar shop is a business. The addition of sensors can be used to prevent theft by employees or customers who purchase high-priced merchandise.
Smart shopping carts are being used by some stores like Amazon Fresh. As soon as you place the item in your cart, the court senses it via the barcode and tracks what you’re buying. At Amazon, you don’t even have to check out.
Just drop in the item, the app calculates your owes and charges you with the credit card that you already have. In these times of social isolation and pandemics, many customers choose contactless payments systems.
3. Personify Interactions
IoT allows for personalization of interactions with your audience. Your customers can download the app, and then input their names. Access to your customers’ purchases last time they shop with you and the cloud is also available.
Sending them a message will allow you to pull the data from their system and offer suggestions for what they may like to do with your stock. Introduce yourself to them. Keep them informed about birthdays and anniversaries. You can be their digital concierge.
4. Skyrocket Sales
Mobile devices can help you increase sales. Research shows that there are roughly 6.648 trillion smartphone users worldwide.
You may have noticed that most people are connected to their smartphones all day. You can see their phone, check your email and use the social media platforms to communicate with them. This is your chance to connect with them in a way they have never experienced before. Send them an SMS message, or use an app to engage.
IoT can be used to show how products interact with the world. You can use your phone’s camera for an augmented real (AR) experience that shows what virtual objects look like.
AR allows customers to visualize a furniture piece in their own home using IKEA’s AR technology. The camera can be pointed at any blank wall to see where it will fit and how it should position itself.
5. Data Security
Many companies are hesitant to store too many data in the cloud or hook up with the IoT. You can get much more security if you use a third party service provider than you can.
There are many costs associated with IT departments in most companies. You can hire a company to handle the work for you and they’ll install the latest security software on all their machines for all their clients.
IoT will continue to grow
The IoT’s upward trend will be continued as more people connect to the internet. Nearly every activity on your phone will connect to the Internet in some form in the near future.
While you can’t predict every type of device and way the IoT might change business, you can be sure it will. Watch out for what competitors do. Be aware of the technology that is most likely to impact your industry.
Eleanor is the editor Designerly Magazine. Eleanor served as the blog writer and creative director for a well-known digital marketing agency. She became her own boss in 2018. With her husband, Bear, she lives in Philadelphia.
Enterprise Podcast Network (EPN) – The first article in this series was Why Your Brand Should Pay more Attention to IoT