The Internet of Things is a network of interconnected gadgets that collect, transmit, and process data without human intervention. IoT devices can be anything from smart fridges, fitness trackers, robot vacuums, to self-driving cars. According to a report by Statista, the number of these devices is expected to exceed 75.44 billion by 2025, which is like 10 devices for every person on the planet. That’s a lot of data to play with.
But what does that really mean for you, and how can you use it with your customer relationship management (CRM) tool? Well, CRM is a software system that helps businesses manage their interactions with current and potential customers. Your CRM can store customer data, remind you to call them, send them emails, help with their problems, and generate insights. CRM accounting integration by itself may increase your businesses’ productivity, as the global CRM software market size was valued at $63.1 billion in 2020, and is expected to grow at a compound annual growth rate (CAGR) of 14.2% up until 2028.
What do you get when you mix IoT and CRM? More data.
IoT and CRM integration is when you connect your IoT devices with your CRM software, so you can use the data from these devices to enhance customer engagement. This can transform the way you interact with your customers in various, exciting ways.
IoT devices provide real-time data on customer behavior, preferences, needs, and feedback, so you can customize your delivery and messaging to each customer. For example, a smart thermostat can learn the user’s favorite temperature and adjust accordingly, while also sending data to your CRM software that can be used to send them personalized offers, tips, and compliments.
IoT can also inform you of the performance, usage, and condition of your products and services before they affect your customers. This can help businesses implement preventative maintenance and proactive solutions. For example, a smart car can detect any issues plaguing the engine, brakes, or tires. Once the problem is identified, the car can notify both driver and service center, while also updating CRM software with relevant data and history.
IoT and CRM integration can serve to enhance customer loyalty. IoT devices create fun and rewarding opportunities for customer engagement, and can allow you to provide more value to your customers with stellar service, incentives, and rewards based on the data you collect. This can help your customers keep coming back, loyal, and excited about engaging with your brand. If a customer wearing a smartwatch achieved their fitness goals, you could send them personalized coaching, compliments, or rewards.
However, IoT and CRM integration is not all smooth sailing. There’s a huge amount of data that comes in from IoT devices, and you need to make sure you have capability to handle the security and privacy needs of your customers. You also need to make sure you have a foundational toolkit and skillset that can allow you to act on the data in a smart and fast way. And most importantly, you need to make sure you have the customers permission to use their data in the first place.
IoT and CRM integration can take your customer engagement to the next level. By embracing the future data flow and personalized engagement, you can gain a competitive edge and make your brand projection stronger and more trustworthy.
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