Have you ever wondered what is the future of CRM? Today’s topic: IoT in CRM

Last week, we wrote about artificial intelligence in CRM, and today, we will focus on IoT in CRM. IoT devices collect useful data with the help of various existing technologies which has improved quality of life in some sectors and provided new innovative products and services.

Firstly, we should define the term ‘IoT’, or Internet of Things. According to Collins English Dictionary, IoT is defined as “a network of objects that are fitted with microchips and connected to the internet, enabling them to interact with each other and to be controlled remotely“. For example, in smart homes, you can put the lights on, start air-conditioning, close the blinds, etc., just using your smartphone from wherever you are.

Secondly, the use and importance of IoT in CRM. Gartner predicts that “CRM will be at the center of digital initiatives in the coming years as companies seek to create more targeted interactions in a multi-channel environment.” With all the data collected with the power of IoT, we are able to find out which customers are interested in buying products and planning marketing promotions, based on their tastes and preferences. This will increase efficiency and the customer targeting becomes very specific and targeted. The Internet of Things can also provide real-time results on competitive marketing campaigns, pricing and promotions, which will allow the marketing and sales teams to quickly adapt to the dominant market trends. Due to the devices always connected to the Internet, it is possible to automatically detect any malfunctions and correct it.

To sum up, IoT can be helpful in customer relationship management. It is commonly used by many, and it has a great future ahead.

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References:

· How is IoT Transforming CRM?. December 19, 2018, http://blog.datixinc.com/blog/iot-crm

· How to Use the Internet to Improve Your CRM Experience. January 28, 2019, https://keap.com/infusionsoft/business-success-blog/sales/crm/internet-of-things-and-crm

· The IoT and the impact on CRM. April 24, 2018, https://www.mht.net/the-iot-and-the-impact-on-crm/?lang=en

· Implications of Internet of Things (IoT) for CRM. December 13, 2017, https://customerthink.com/implications-of-internet-of-things-iot-for-crm/