Published on May 29th, 2018 | by Diogo Costa

4 Ways the Internet of Things can Change Businesses

Internet of Things, or IoT, may be the great business model that everyone was hoping for. With the benefits of integrated information, industrial products and everyday objects can have digital identities and be equipped with sensors that detect physical changes around them, in a way that mixes intelligence into the environment and stimulates the creation of new products and services.

Connecting objects to each other, in an integrated network to make life easier, suddenly becomes a very palpable reality. To better understand this overwhelming field of technology, a podcast held by Deloitte Digital’s Robert Schmid, also known as “Mr. IoT”, can really help.

“Coffee with Mr. IoT” is a weekly live conversation about the latest news in the Internet of Things universe, happening every Friday, with guests that discuss the latest topics and provide useful insights for the future.

The revolution is still in its early stages and there are four indicators of severe changes in the model in which we do business for the future.

IoT will allow for an improved developer-consumer interaction

By entering into the world of consumer-driven business communication (B2C), the products developed on the Internet of Things will give developers the opportunity to reshape their entire base of value and deliver the consumer something closer and palpable.

Interacting directly with those who consume will bring to market a new supply/demand relationship, which will bring both sides of the coin closer together in a strategic way never seen before.

B2C communication will not only benefit who produces

Improving communication between producer and consumer is a critical component in leveraging market loyalty. According to IBM, 80% of consumers who participated in a survey say that brands do not recognize them as individuals.

This statistic suggests a considerable opportunity to capitalize on the public through closer and personal communication, as well as benefit all those who consume with a more organic and true relationship of interest.

The IoT model enables a modern approach to the customer

As an example, take a smart lamp – it is cheap and simple to use. Once used, it is quite feasible that consumers will return to the store to look for other products related to the smart operation of their home. With the information integrated into the network, IoT may map these product needs and suggest them automatically through the cloud or applications.

IoT can bring the term “freemium” to the modern market

Developers will have the ability to deliver a very low-cost product to the consumer directly – almost bordering on free. These “freemium” models are not linked to the product itself, but to the use of it.

Monetization will no longer come from the physical delivery of a service; will happen through updates, signatures, internal advertisement in applications and all necessary maintenance of something that was provided, at first, at a price almost non-existent – compared to today.

Tags: internet of things, iot, mr. iot, podcast, YouTube