How Will the IOE affect Customer Loyalty Programs?


For modern retailers, business disruption is an everyday quest. The Internet of Everything/IoE is about automation of and wiring of the retail space in a manner that enables communication with every possible smart device consumers interact through. Technologies have advanced to the point that sensor-enabled products that facilitate data production and transmission have come into play.

IoE needs to be seen more than just automation and the connection of devices allowing control with the mobile device. IoE is data collected for real-value addition. The ability to accumulate and analyse data is changing the way customer loyalty programs approach modern retailers. The focus now is on people, technology and business processes and how these interact.

  •  How IoE Technologies Impact Customer Loyalty?

The interaction between data and things produced impact daily experience. IoE technology enables and empowers powerful loyalty experiences. It even impacts how retail customers engage with services, products, brands and businesses. Big Data as provided by IoE devices intersect with other data sets to ask the biggest questions surrounding customer loyalty programs. Working with enterprise clients to find customer journeys and digital paths customers take through business experiences is now simplified.

  • How IoE Changes Everything!

Cisco’s research even sees huge potential based on how IoE connects people, processes, data and things to elicit better and more relevant customer experiences. The Internet of Everything is a USD 19 trillion global opportunity across the next 10 years. Private-sector companies can create as much as USD 14.4 trillion in value while cities, governments and public sector undertakings can generate USD 4.6 trillion, according to Cisco. To know what is happening and how value will be generated, understanding IoE’s impact on retail is critical.

New ways of communicating have changed habits through new devices introducing and enforcing mobility, while social apps connecting with companies necessitate a change in customer strategy. The evolution of social CRM only creates more value. Big Data and related analytics have offered big opportunities to detail and enrich knowledge on part of the retailer. Digital transformation has modified business models and process digitalisation adds further to this revolution.

  • Benefits of IoE For Building Loyalty
Early adopters have realised the important benefits for any business come from enhanced customer service levels through IoE. The main benefit for a business will be increased operational efficiency, revolutionising internal processes. The importance of customer service is another area impacted by IoE.

As customers will expect more personalisation and hyper-relevance from companies, the only way to solve this quest for value-creation is to ensure problems are anticipated and solved through IoE and Big Data. Customer service, on account of sensors, devices and connections, endlessly monitors product and service performance and consumer loyalty programs reflect this paradigmatic shift.

Enterprise IoE data such as web traversals, call logs etc. serve to create better grounds for targeted consumer loyalty programs. For example, telematics data from wired cars can offer reliable and amazing experience insights for automobile rental and car-selling retailers. The questions asked for putting together the customer loyalty programs elicit more useful, revealing answers. IoE brings the wired world to the digital native shopper. For modern retailers on a quest for innovation, this is simply incredible value addition. 

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