Magazine article CRM Magazine

IoT Technology Has Huge CX Potential: Companies Can Use IoT Data to Improve Product and Service Delivery

Magazine article CRM Magazine

IoT Technology Has Huge CX Potential: Companies Can Use IoT Data to Improve Product and Service Delivery

Article excerpt

Customers increasingly expect enhanced experiences in the physical world, and for many, that means that companies should be able to tap into the Internet of Things (IoT) to sense and transform those experiences, according to a new report from Forrester Research.

"Whether it's consumer or enterprise, people's expectations are increasingly that companies should have visibility into what's going on [in the real world]," explains Frank Gillett, a Forrester vice president and principal analyst serving information professionals. "[There's] definitely a shift in expectations and experiences based on the increasingly amazing things you can do with your smartphone. People don't always realize what hidden magic is going on under the covers, so they're just assuming and expecting even more magic to extend beyond the phone."

The report identifies four key ways that IoT technology can benefit customers: monitoring and improving experiences with company offerings; personalizing each situation for the customer; automatically improving and learning over time via updates to products and services; and reinventing product access and purchase.

In terms of monitoring and improving experiences, the report notes that customers attending a Red Sox baseball game at Boston's Fenway Park, for example, might expect the venue to be able to provide seat-based food delivery and automatic updates on when the lines at beer stands are short. Similarly, users of iRobot's Wi-Fi-enabled Roomba robot vacuum today expect customer service reps to know their vacuum's status and battery cycle count when they contact the company with a problem.

As for personalization, the report asserts that customers expect experiences to be regularly refined to their particular needs based on real-world context. As an example, the report cites Schneider Electric's smart commercial electrical panels, which monitor energy use and deliver custom notifications to customers and service technicians based on their needs.

With regard to product and service updates, the report says IoT data can provide valuable insights on how companies can improve their offerings. One company mentioned in the report is electric car manufacturer Tesla. …

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