The modern business world changes every day. With that in mind, it is important for any business, big or small, to stay up-to-date with all the trends that can benefit customers and employees alike.
Nowadays, our lives, both personal and professional, are a part of the digitized world. That is why all the modern innovations should be taken into account while building a business strategy.
So, what are those novelties and how they can help CRM to increase sales? To find the answer, we have to dive into the Internet of Things.
What is IoT?
The internet has grown and evolved at a rapid pace and what was once a clunky, confusing world of ones and zeroes, is now an integral part of our lives, even when we don’t realize it. Internet users not only communicate with one another but also devices all over the world. You can turn adjust your thermostat in Maine while you vacation in Belize.
The first effort to connect objects (things) through the internet was made in 1999. It was the concept of creating a network that could link-up physical devices with the help of sensors and software through intelligent interfaces. At the same year, Kevin Ashton introduced a term “Internet of Things” (IoT) to describe a system in which physical objects could be related to the sensors and the internet.
The world changes day-by-day, with IoT along with it. Now it goes beyond machine-to-machine (M2M) interaction. IoT services can collect requested data from different sources and transfer it to the other devices and systems automatically. Thus, it became possible to solve daily personal issues and business tasks with ease and flexibility.
A Gartner report predicted that the number of connected IoT devices is expected to increase up to 26 billion by 2020.
How to improve your CRM with IoT
Customers are able to get unlimited info about any company they are interested in, its products, delivery options, and more. This leads to customers buying items on their own rather than working with a sales representative. Forrester predicted that B2B e-commerce would grow up from $780 billion (in 2015) to $1.13 trillion (in 2020) due to this. Now sales reps have to improve and change sales techniques to stay in the game. This is where CRM and IoT come in.
How can your sales team use IoT?
Providing long-term customer relationshipCustomers are the primary resource and the driving force behind any business. That's why keeping a customer has great economic value.
Leads can be pushed to new levels with the help of IoT-connected devices. But that won’t be of much help if there isn’t a robust CRM platform for that information to go into. Collecting your prospects’ data and organizing it into your CRM allows your salesperson to connect to the prospect, then when the prospect becomes a customer, that data can be passed to customer service, ushering in the groundwork for long-term customer service.
Does e-commerce go with IoT?
Using IoT can change a buyer's behavior and the way a seller works. Because of this e-commerce and retail are hugely affected.
Improve the client experience
Sellers can improve the sales by analyzing the search trends, previous purchases, online browsing, and the use of smartphones. This allows the sales team implement targeted strategies and upsells
Highlight the company's benefits for each customer
Using IoT can help companies distinguish themselves from other businesses. For example, Disney Parks uses RFID technology by giving each customer MagicBands. This allows Disney to track their visitors’ data, while the visitors are able to maximize their park experience. Visitors will feel the personal touch when they are given a personalized birthday greeting or the ease of opening their hotel room door or paying for breakfast with the band. Disney reaps the benefits of tracking user behavior, with the ability to upsell.
Streamline e-commerce logistics
Consistent pipeline management is a primary factor in retail success. IoT-connected devices can help implement pipeline management by providing the complete tracking and control of the sales cycle.
That’s where GPS- and RFID-devices come in handy. With this technology, the sales manager can get data about the products placement, processing stage, etc. At the same time, the customer can get accurate information about the delivery time. This can help reduce travel times and costs and the savings can be passed onto the customer. Win-win.
As the Internet of Things continues to gain momentum, it will continue to improve the overall customer experience. Pairing IoT-connected devices with a powerful CRM, like Keap, can increase the power of your sales team. They will have the data they need to make target sales.
Oleksandra Lukavetska is a marketing manager at Data2CRM.