As the Internet of Things (IoT) continues to permeate our world, so too does the Internet of Behaviors (IoB). In fact, there is great overlap between the two concepts and the IoB continues to gain momentum as our capabilities in data analysis grow. We understand that the IoT helps us automate and optimize processes to improve our daily lives. Using the IoT, the IoB gives businesses a foundation for planning and customer outreach.
Simply put, the IoB has the potential to revolutionize the way companies and organizations interact with their customers. Let's take a look at some of the major benefits of IoB.
Buyer Behavior Analysis
Companies can use the IoB to carefully analyze how a customer is feeling at each point in their buying journey. Having the ability to evaluate, or even influence, a customer's mindset can prove incredibly valuable. Companies can take steps to pivot earlier in the process, ensuring a customer stays engaged with the product or service.
Study Interactive Customer Behavior and Attain Deeper Insights
The IoT has opened a world of seemingly endless data for companies to mine. Previously, there was so much data that companies did not know how to use it all. The IoB provides a path for this previously unusable data to reach businesses in a meaningful way. Companies can now mine this data to better understand how consumers are interacting with the process.
The decision-making process varies by customer and is impacted by many other factors. Some customers quickly make decisions based on an immediate need; others take their time and conduct through research. No matter where a customer is on their buying journey, the IoB allows a company to pinpoint the most important factors to a customer and push incentives, such as discounts, at just the right time. Real-time targeting can influence a customer's buying decision in the company's favor.
Immediate Issue Resolution
A company's reputation is among its greatest assets. To protect it, a company needs to go the extra mile in resolving any issues that arise as quickly and effectively as possible. IoB allows an organization to immediately respond to and resolve consumer issues, which can help preserve the company's reputation and ensure the customer is satisfied. Having the capability to identify and assist clients in need at a critical time is a major advantage for companies.
Value for the Company and the Customer
The IoB's benefits might appear one-sided and appear to benefit the company more than the customer. However, the value of the IoB is truly two-sided. Though the company reaps the benefits of influencing a customer's buying decision at a critical time, the customer benefits from potential discounts and excellent customer service. Consumers might find the concept of IoB to be intrusive on some levels, but there certainly are advantages.
Look to Your MSP for Guidance on IoB
Having a handle on the IoB concept might seem daunting at first. As a company, staying ahead of new and emerging technology is critical to growth and enhancing the bottom line. As a customer, learning how the IoB impacts your buying decision helps advance your savviness as a consumer. AJTC can help you or your business realize the benefits of IoB and how it will revolutionize the way business is done. Contact AJTC today to learn more about technology trends, IT security, and other services. You may also visit AJTC here or reach us at 708.942.8200.