Have you heard the term ‘Internet of Things’ and wondered what it is all about?
Is it something to pay attention to? What does it have to do with CRM? And will it drive business growth?
First, let’s explore what IoT is all about. Basically, it is a network of internet-connected things that collect, send, exchange and act on data. It is things talking to each other.
Sensors are used in objects, machines, buildings, vehicles and even in people, animals, plants and soil.
IoT brings physical and virtual worlds together.
There will be ‘smart’ objects working together to make for smart cities, homes and businesses. Imagine, garbage cans that signal when they need emptying, equipment alerts you that there is an issue before it breaks down, green buildings shut down systems when they are not needed and you have real time monitoring of supplies/products in the supply chain.
In healthcare, there can be proactive patient surveillance and for higher education they can track key resources and automate lesson plans based on students’ testing results. Nonprofits can have more supporting data to efficiently and effectively drive fundraising efforts and share research with donors.
IoT is truly limitless in its applications.
The number of devices/things connected to the internet surpassed the world population a few years ago. With predictions for the economic impact of IoT in tens of trillions of dollars, it is clear why companies are increasing their investments in IoT.
Then there is the intersection of IoT and CRM.
Customer expectations are constantly on the rise and integrating IoT with CRM (like Microsoft Dynamics 365, Salesforce, etc) is a way to differentiate your business and satisfy customers.
For example, you sell a product to a customer and it is logged into your CRM. Something triggers the sensor and sends data to your CRM, perhaps alerting you that there may be an issue with the product.
That kicks off a business process that automates customer service. You proactively alert the customer and service solves the issue before the customer experiences dissatisfaction.
At the heart of all of this is data. What data does your business need for real-time decision-making and taking action?
This will drive your strategy.
>> Want to learn more about the Internet of Things and CRM? Simply complete the form below to instantly watch this on-demand webcast from Ledgeview Partners to learn how the Internet of Things can drive business growth. An email will also be sent to you with the on-demand webinar URL so you can access it at a later date.