For OEMs collecting IoT-connected product information, the benefit’s in its actionable utilization. How you manage it becomes crucial – having the ability to build a Connected Customer Experience and incorporate proactive Service team interaction – ultimately maximizing Warranty Management profitability.
Connected Customer Experience
The Internet of Things (IoT) is not a new “thing” in and of itself, but rather a pervasive resource that may be used to help run your company’s business. What it does is empower you to leverage all of the tools and resources that had previously been available to you; combine them with newer Web-enabled tools, technologies and resources; and help you manage your services organization in real time.
Product registration is one of the most often used methods for brands to connect with their customers. Registration is the first post-purchase connection that brands have with those who buy their products.
However, the number of products being registered is painfully low, compared to the number of products sold. Most brands report registration numbers around 10%, leaving 90% of purchased goods unregistered. This same 90% are unknown customers who are not receiving the benefits provided by being connected to brands.
Nowadays, people trust recommendations from their friends far more than those they receive from third-party sources. The reach and speed of a single recommendation, particularly when expressed through social media channels, can be either immensely damaging or promotional for a brand.
Technology waves like mobile, social, and wearable computing have transformed customer expectations. In this modern age, the world is rapidly moving towards the datafication of everything – including Analytics.