Why Your Business Should
Embrace IoT Technology
“Like other great technological shifts throughout history, the IoT is changing the way we work, the way we play, the way we learn and the way we organize societies. It has the potential to make us better informed, healthier, more productive, and more connected; and it introduces new challenges for privacy, safety and regulation.”
What Is the IoT?
In the simplest terms, the IoT is a system of network-connected devices, embedded in physical objects, to improve existing processes or empower completely new strategies. The main purpose of these devices is to exchange and collect data to create value.
IoT devices are made with a computer chip, software, and an Internet connection. The “things” they connect to can be virtually anything: a merchandise rack, a beverage cooler, a car, an entire house or even a “smart city.” A complete IoT system integrates four components: sensors/devices, connectivity, data processing, and a user interface.
How Does the IoT Shape In-Store Behavior and Experiences?
For In-Store POS purposes, sensors embedded in product displays can interact with consumers in a range of ways. Brands use sensors to deliver coupons, invite consumers to play product-related games, or recommend particular products according to demographic information received through facial recognition software. These devices can track consumer behavior and deliver data on dozens of potential KPIs, from dwell time to final product choice.
The Feedback Loop
It’s important to remember that IoT signage and POS devices are much more than a high-tech display fad. Not only do they reach out to consumers to drive new forms of engagement, they also harvest and deliver data to help brands continually refine their In-Store tools. It’s a perfect feedback loop between brand, product, environment, and consumer.
There are already millions of IoT objects in our environment. Eventually, these systems will allow billions of devices to collect, transmit and receive data through the Internet, transforming virtually any aspect of our lives into an opportunity for customers to engage with brands. They will also deliver increasingly granular insights into shopper behavior, and critical inventory data.
Ready to ignite the power of the IoT for your brand? Schedule an IoT info session today!