4 Ways How Your Small Business Can Expand with IoT
Posted By Priyansha Sinha | 25-Oct-2018
As the Internet of Things (IoT) steadily expands its territories, it is all set to become the most crucial tool for small businesses to enhance their internal operations, boost productivity, and serve their customers more efficiently. In this post, I will explain 4 ways how IoT is greatly helping small businesses supersede.
The fact that IoT has gained massive momentum in all these years has never been kept under wraps. Interestingly, there will be more than 30 billion connected devices by the end of 2020 and will even reach up to 75 billion in the next five years. From linked cars to receptors to wearables, you will come across numerous ways IoT can help businesses to grow & succeed and make lives a lot easier.
However, having said that, there exists a major question that is circulating around for a while. Is IoT only for big and established businesses? Is it only for those who can afford to invest a huge amount of money into this groundbreaking technology? Well, my answer to this is- NO!
The wave of connections that the Internet of Things has got today is not only influencing big enterprises but the smaller businesses and startups as well. At present, there are many ways IoT technology can assist in improving everyday work lives. From smart offices to free assistant, here are 4 ways how IoT can facilitate small businesses to work more productively.
Better Understanding Of Customer Behaviour And Data
Indubitably a smart technology- IoT, will enable businesses of any size to access customer demands and easily monitor their overall purchasing behavior. With such useful data, companies can tailor their offerings more effectively and can implement more rewarding, promotional, and advertising offers. Businesses will be able to know the minute details of customer behaviors and information such as- what do they want to buy, when do they want to buy, and how much are they willing to spend on such products.
The IoT will also aid in enhancing the speed of the entire purchasing process. And when small businesses have access to such detailed customer information, it will accelerate the development of more services and products that their users want.
Free Assistants For Making The Day Easier
Small business owners who can not afford a human assistant, however, still need extra help, can switch to Google Assistant. Alternatively, some people might even prefer using Siri or Amazon Alexa, but what really allows them to stand out of the crowd is- you can easily connect them with the task management systems, calendars, and reminders at just a touch of your phone.
These devices can efficiently control other devices and, thereby, help in eliminating menial tasks such as research and scheduling, and make your day effortless and so much easier.
Improve Space Efficiency & Inventory Management
Small businesses do not usually have bigger budgets for wasted resources but the Internet of Things can seamlessly solve this issue by maximizing the office space. They can install sensors that can pick up heat and activities to monitor whichever areas are used the most in office.
Moreover, the IoT will also dramatically enhance the capability of the small business to keep tabs on their entire inventory process. Smart devices in coherence with the Internet of Things are predominantly making it possible to manage and track the products automatically and improve the overall logistics and warehouse efforts.
Facilitate Cost-Effective Operations
The cost of operating an entire office is essentially a major expense that small businesses have to bear. IoT, on the other hand, can greatly help such offices to significantly reduce the operating cost. There are a multitude of products available through the IoT- for example- Nest thermostat, which manages the energy usage automatically and interacts significantly with the connected devices, smart light bulbs, and other devices with a sole purpose to streamline the overall cost of utilities.
A Final Note
Simply put, for all the significant benefits that IoT holds for small business owners, it is doubtlessly the right time to adopt this neoteric technology and grow tremendously. Moreover, if you also own a startup or looking to expand your new business, let us know. We will help you take a smarter road and give an improved direction for a seamless implementation of IoT.