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Use IoT to tie varied functions from sales and marketing to customer service.

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Map out ways to leverage IoT for better rapport with customers.

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The Internet of Things is Huge, and Destined to Only Get Bigger

The Internet of Things (IoT). The very name conjures up images of vastness. That is apropos, for many believe the IoT will usher in near limitless marketing opportunities. That's reflected in the prediction the number of IoT-connected devices will grow 20 percent annually through 2020. Already, major entities from Harley Davidson to the NBA's Portland Trailblazers use IoT to reap marketing solutions.

FORECASTING BUYING PATTERNS CAN DRIVE MARKETING EFFORTS

Infinite data is generated and shared by tens of millions of IoT linked devices. These include smart phones, smart TVs, beacons, sensors, RFID hardware, vehicles and all else that's digital or chipped. Marketers are able to use this data to identify buying preferences and patterns and respond with personalized marketing campaigns. As one expert opined, "Everyone and everything becomes a data point."

We delve into the enormity of the Internet of Things, exploring why IoT will be critical to company success in the years to come, and how best to launch your own IoT strategy.

When will there be more connected devices than human beings on the planet? That has already happened – in 2008!

Read Building the Internet of Things: Implement New Business Models, Disrupt Competitors, Transform Your Industry, by Maciej Kranz.

Some prognosticators believe the IoT's greatest value will be in enabling the transformation and reinvention of products, services and entire industries. Want a couple examples? Think Airbnb or Uber.

Email or call us at 708-246-4211 to learn how to profit from the full potential of the Internet of Things.

CONNECT WITH CUSTOMERS IN MUTUALLY-BENEFICIAL WAYS

The Internet of Things is so huge, creating a focused business strategy effectively leveraging IoT would seem an imposing task. Begin by keeping these priorities in mind. IoT should integrate a wide range of business functions, from sales and marketing to CSR and R&D. It should offer benefits for both you and your customers through better relationships, more timely tailored promotions and easier, quicker and more rewarding access to products. In brief, it should enhance the entire customer life cycle.

The IoT is still in its infancy, and its potential as yet not fully known. Nonetheless, entities from financial services firms to carmakers and airlines are already improving their efficiencies and better serving customers through IoT. Here are a few real-world examples to inspire your own use of IoT.

• Disney World has created RFID-enabled wristbands that are worn by park patrons. The bands enable easy access to rides and other attractions, and let Disney learn which park areas are and aren't luring the most visitors.
• Spirit maker Johnnie Walker's "connected labels" monitor its product quality and blunt counterfeiting attempts, while also conveying product insights to customers' mobile devices.
• IoT sensors are being used on UPS vehicles to audit such variables as fuel efficiency. The goal: Reduce costs, protect the environment and offer better customer service.
• Virgin Atlantic is equipping its 787 fleet with IoT sensors that monitor the performance of every aircraft component from engines to landing gear.