Arguably one of the most popular sectors of the tech industry, IoT (Internet of Things) is rapidly expanding into all sectors of business, whether you are a B2B or B2C organization. IoT devices and applications enhance existing go-to market strategies, create new revenue streams and provide invaluable data intelligence. Curious how IoT can improve your business model? Learn the top ways your business could be implementing IoT technology today to drive growth in your bottom-line tomorrow.
Asset Tracking and Inventory Management
With IoT technology, you can monitor all of your business’s assets from products to equipment and technology in real-time. Relaying this information and analytics to the right people at the right time plays a critical role in supply and demand actions as you manage your business functions. Asset management with IoT capabilities allows you to evaluate if your assets are performing correctly and efficiently, giving you insights that allow you to make timely course corrections, maintenance procedures and replacement decisions. Better forecasting can mean all the difference in hitting your expenses targets this year.
Customer Data Insights
Smart devices are known to track consumer data as well as behavior, user patterns and activities. How your business gathers and processes this information with IoT devices gives you a larger breadth of information to interpret. Your marketing team is able to use this large variety of data to create a holistic view of their target customers. Understanding what your consumers want and like can improve your sales and marketing process and buyer persona understanding. This makes building campaigns easier and more efficient. Even more, using marketing IoT applications such as smart supply chain and tagging technology allows your team to collaborate and communicate more effectively as well as monitor and amend marketing campaigns in order to reach goals and track KPIs.
Customer data can also play a role with product innovation and development. IoT allows you to collect massive amounts of data, which means you can optimize your product offering and increase the value of your products and services to your consumers. You can use the data collected by your IoT to identify performance, find issues and discover opportunities for new product development. IoT can also help your customer support services better assist your clients by providing better access to inventory, maintenance and even remotely accessing clients’ desktops and devices to complete maintenance or troubleshoot a problem.
Shorter Purchase Cycles
By using the data provided through IoT devices, companies can more quickly respond to consumer feedback, improve products and better align marketing messaging to the consumer mindset. When done well, the end result includes shorter purchase cycles for consumers, an increase in brand loyalty and more market share.
How Can Computer Solutions Help You Get Into IoT?
We work with the best IoT hardware and software providers to customize solutions and integrations for a variety of industries from city and government and education to healthcare and retail. We know no two businesses are the same and have a comprehensive process to oversee your IoT vision, from strategy planning to deployment of assets. Interested in learning more? Contact us today.