Published by: Albert Gibosse
As data driven by the constant onslaught of information collected from sensors and other Internet of Things (IoT) devices (some eleven billion currently connected and more than 80 billion expected to be connected by 2025) continue to explode, companies must keep the customer experience at the heart of what they do.
Here is a great blueprint for thinking about not just IoT data, but also other information that you may have access to in the future. With more insight-laden data constantly being created, the prospects to discern more about individuals and create truly brilliant, personal experiences are interminable:
Figure out what data is relevant to your business
Accurate, real-time data, made available through the IoT infrastructure provides many benefits for businesses that aren’t as immediately obvious. Analyze your customer journey and consider whether integrating your first-party data with second-party information – data owned by another company – might bring about a more meaningful, relevant experience.
As connected car technologies are expected to become standard in automobiles by 2020, IoT data integrations are already happening across industries. For example, insurance companies are analyzing data collected from connected cars very closely to make informed decisions in offering lower premiums to safe or infrequent drivers. Automakers are remotely diagnosing maintenance needs and sending proactive reminders. Transportation apps enable trucking companies to track their fleet in near-real time.
Thus, for companies who have yet to integrated IoT technologies, now is a good time to build the business case for sourcing and onboarding connected car data, and whatever other IoT data may be relevant to your industry.
Robust Data Analysis for Personalization: Connect online and offline data
New data for marketing campaigns, being streamed in, must be connected to information on how people behave in real life and in front of their devices. What people do offline and online provides a clearer picture of the customer journey, providing companies with valuable insights into what constitutes a valuable connection with a particular individual.
Video platforms, for instance, focus on subscribers’ viewing and ratings history, and use personalization (contextual marketing) to suggest new videos and movies.
Self-regulate to Optimize Your Primary Data
Decide what is acceptable and required in your industry, understand your data and whom you are trying to create personalized experiences for, filter out the noise and utilize the signals and predictors that matter for your business. Carefully select what new data to connect to and manage for your marketing campaigns, and ensure that your growing database remains privacy compliant and in line with the experience your customers expect.
A trusted data resource can help source, connect, and give you valuable insights when the information is procured through ethical, privacy-compliant means.
Although well over ninety-five percent of patients believe it is important for any health institution, regardless of type or location, to have access to their full medical history in order to deliver high-quality care, yet, providers (insurance companies) and regulatory agencies have yet to meet the free flow of personal data among healthcare organizations that patients envision.
As data privacy is at the heart of any successful initiative, it’s vitally important for all businesses handling personal data to keep abreast of new policies and proactively maintain regulatory compliance. It is also crucial to attend industry events such as the ones organized by the International Association of Privacy Professionals, and joining associations such as the Digital Advertising Alliance.
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