The IoT is an assortment of technologies that are all connected to the Internet, such as smartphones, tablets, televisions, and even some household appliances. Not only does the IoT enhance the usefulness of many devices, but it can also collect data that companies can use to improve customer satisfaction.
How Can Data from IoT Be Used to Improve Customer Satisfaction?
There are several things that companies can do to help improve customer satisfaction through the data they gather from IoT. Some of which include:
- Collecting data regarding user behavior. This allows an organization to phase out unused product features, focus on the features that customers find the most useful, and identify any potential issues in current processes.
- Streamlining administrative operations. Employees will be able to access data faster and more efficiently, thereby providing better customer service with lower overall administrative burden.
- Providing seamless interactions. The IoT provides interactions between devices and throughout a network, thereby providing a seamless, easy, and accessible experience. For example, Daniel Newman at Forbes writes,”Facebook’s DeepFace technology is now 97% accurate. IBM says its Watson technology is 2,400% “smarter” than it was six years ago. The emotional intelligence of today’s chatbots and voice responders is freakishly human. Seriously: It’s time to build a relationship of trust with your tech”.
The Importance of Tracking and Analyzing IoT Data
Data is an essential component when connecting to your clientele. Data gives you information regarding the improvement and optimization of your business as well as everything you need to know about customer behavior and potential revenue generating activities. Data also helps you relate to your customers on a more personal level, by reaching out to them proactively and responding effectively. The more data you collect, the more efficient your operations will be, and the better you’ll be able to predict your customer behavior.
When it comes to customer service, customers want to get what they need in as few steps as possible. Data makes it possible to anticipate their needs, either altering the behavior of your services or offering more data for your customer service representatives to use.
The Importance of High Customer Satisfaction
Customer satisfaction is one of the most important aspects of running a business. 89 percent of businesses compete based on customer experience. Most customers will stay with a company that has inferior products and services if they have a good experience. This is because customers know what to expect and they know that if they have issues with the organization, those issues will be fixed. Regarding the bottom line, retained customers are far less expensive than newly acquired customers. Companies can grow faster and develop more stable revenue streams if they can maintain their existing client base rather than aggressively expanding.
Many companies today offer similar products and services. It is customer experience that distinguishes them, and it is the most visible aspect of a business to a customer. Customers may not see refined logistics measures or internal company culture, but they do see the result of it.
Is your organization effectively using the IoT for customer service and satisfaction? If not, Starr & Associates can help. Contact us today to learn more about business intelligence and what it can do for your organization.