Small Steps Into IoT for Small Businesses

Posted by on Aug 1, 2016 6:00:00 AM Kody Betonte  
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IoT eCommerceUsing the Internet of Things to enhance your and your customers’ experience is more accessible than ever before, whether your company is a tech-savvy startup or a respected, established enterprise. There is no reason only large companies should benefit from the monitoring and analytical capabilities of IoT. With a smart budget and a cohesive business vision, your small business can benefit from the research and development that has already been put into IoT technologies.

Keep Up and Keep Track With IoT

One of the largest benefits of IoT for small businesses is gaining valuable information on resource data. This data can range from peak productivity hours to water and electricity usage. IoT’s strength in digitally monitoring real-world devices and information means that you can get timely, pertinent information on the mechanisms that keep your company running.

The most immediate advantage for small businesses is efficiency. For example, as a business owner, you’ll be able to make more intelligent decisions and reduce waste by using in-depth information about your store’s air conditioning system. In a retail situation, you’ll have the ability to track how many customers are entering your shop, analyze that information, and keep staff on hand to enhance customer experience and increase sales potential. 

Smart Inventory via IoT 

Tracking your inventory and purchases with IoT provides a wealth of information that can generate better sales. A company can have the best customer service in the world, but if they don’t have the right item at the right time, the customer won’t buy anything. Tracking your purchase and inventory patterns gives you a better idea of what is selling, how quickly it sells, and how often you need to replenish it to meet customer demands. IoT management of these systems can also reduce your stress by sending automated alerts when a product drops below a certain amount, so you won’t lose sales because of busy days. IoT integration allows you to focus on your business at a customer and employee level, leading to more productive, communicative work environments.

Using IoT for Customization 

Near Field Communications (NFC) is a technology that transmits data within a limited distance to devices such as smartphones. NFC presents an impressive number of ways you can directly interact with your customers and provide a more interactive customer experience. Small businesses can use NFC technology to send the latest and most relevant coupons and sales to nearby customers.

Since shopping can be a bombardment of information, consumer awareness is key. Making sure information is clear and targeted helps both your business and your customers. For example, if your business develops an app specifically for your store, you can make personalized suggestions to customers based on their past shopping patterns. Pointing people toward products they’re interested in strengthens your sales and service relationship with customers leading to repeat business and more revenue. IoT allows your business to give customers a speedy experience tailored to them.

As you plan how IoT will help your small business, you’ll want the tools to build out your IoT program. Sign up with Neo today and you can get Neo SIMs – including high data LTE – tomorrow.

Topics: Asset Tracking, small business, near field communications