Technology is improving the way manufacturers run businesses day-today in the digital era. CRM systems can leverage the Internet of Things (IoT) to enhance end-to-end processes by connecting products, devices and equipment.
What is the IoT?
In broad terms, the IoT is everything that is connected to the internet. For the purpose of this blog, we are mainly focusing on the fact that it represents things that talk to one another.
IoT has the ability to drive insights throughout sales, customer services, and marketing departments. The intelligent coupling of IoT and CRM has the ability to help manufacturers uplift customer experiences by enhancing efficiency and heightening visibility.
Optimise Customer Experiences
IoT and CRM make it possible to optimise customer experiences in a variety of ways.
Manufacturing firms can identify errors and fix them before customers even notice – when issues are solved promptly and accurately, both sales representatives and customers can benefit from this seamless experience. Once the issue is identified, it can be resolved and prevented from happening again. Having all customers’ order history and account information in your CRM system can enhance customer service by speeding up processes. These are some of the improvements manufacturers are already seeing when they connect IoT devices with their CRM systems.
The more information, the better the CRM works. When you already have a deeper understanding of the customer's behaviour, you can then tailor the interaction according to what they like best. The more you understand your customers, the more successful your campaigns will be which then leads to more ROI. IoT gives you almost real-time access to customers's data which means that it's easier to influence their decisions (1).
Increase in Sales
'The probability of closing a sale with an existing customer is 60 - 70% greater than a new customer.' (2).
To get new customers people value unique and efficient experiences more than anything else when engaging with brands. The enhanced capabilities of CRM systems, when connected with IoT, can lead to increased sales. IoT can detect customer's problems, assisting sales reps to put together a tailor-made strategy for each customer. It can also give insights into when to reach out and which channels to use when offering discounts or vouchers to retain their loyalty. This is also beneficial to marketers because they can leverage these insights to deliver content to the specific target audience at the right time.
Utilising IoT and CRM enables manufacturing firms to become more connected enterprises, and enables a business to discover innovative ways to engage and connect with customers.
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(1) https://financesonline.com/top-5-reasons-why-crm-and-the-internet-of-things-will-influence-customer-engagement/ Date accessed:22/10/2019