The internet of things (IoT) is a group of smart everyday objects connected in a network. That can gather information and act on it. IoT is useful in business because it helps brands to better understand the customers’ needs. Successful businesses realize the need to beat the competition by making life easier for the customer experience.
Although products and services are what customers pay for, what attracts and maintains the relationship is the experience customers have with the brand.
No Need for Human Intervention
IoT data gathering ability exceeds that of other sources of big data both in quantity and quality. As a result of this, businesses use the data collect not just to enhance their products. And services but also to improve customer interactions. They do so to achieve objectives that have set already without the need for human intervention.
It is not surprising that the most successful businesses are the ones. Who constantly seek to improve customer experience over and above having excellent products and services.
As businesses realize the importance of customer engagement, they are now finding new ways to utilize technology to improve customer experience and boost the value of their brand.
Here are three IoT opportunities for enhancing customer experience that businesses can utilize:
Faster Billing and Checkouts
As the interaction between companies and customers increasingly go online, the appeal and necessity of shopping from brick-and-mortar stores have not waned. It is important for businesses to make the in-store experience as smooth as online portals. Technology can help businesses to improve the customer experience by ensuring that every in-store shopping visit is smarter and more convenient.
Secondly IoT-enabled stores are being test with increasing success in different parts of the world. These use a combination of sensors and ID systems to build a list of purchased items when customers add products to their cart and also enlist the items when the customer returns them to the shelf. For instance, customers can link their ID to a payment service that is use to pay the vendor without having to wait in queues. This way, as he picks up items they are recorded and he is able to checkout seamlessly.
Recommending products based on data
Customers prefer to buy from brands and businesses that offer personalized service. They are more willing to pay more for the services. Personalized customer experience boosts value and customer loyalty. Businesses can use IoT technology to get information and build customer profiles which can be used to offer personalized services.
They can use IoT to recommend products based on demographics and purchase history. Personalized service ensures customer loyalty and retention which is important for any business. It’s not only about getting more customers, but also giving customers efficient service. This gives us happy and satisfied customers.
Location-based services take personalization to the next level. They allow businesses to create different customer experiences based on the present situation. By using IoT to detect the location of customers, businesses can reach the customers with well-timed recommendations. For instance, a restaurant can provide its menu through mobile notification. Businesses can use the network to track activity in order to provide specific recommendations.
As businesses continue to improve their services, it gets to a level where differentiation is no longer in the services offered. Rather the differentiation is in the customer experience that gives a definitive advantage over the competition. The Internet of Things helps brands to get ahead in various business use cases. Innovation is the drive to break the status quo and discover the limits of the possible.