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How the Internet of Things (IoT) could change the future of product development

We all know the old saying…‘the customer’s always right’…and whether, as a business, you agree with it or not, 9 times out of 10, it probably is actually true.

In most cases however, we probably link the saying to customer services situations where something’s not quite right and some good old-fashioned customer service can help to make it better.

But customer feedback and insight is also crucial in the field of product development…not just for new product launches but also for maintaining the success of existing products.

Just think back to leading brand Coca Cola in the 1980’s. They launched a new recipe which didn’t go down well with customers and a campaign was launched to change it back. It only took 79 days for Coca Cola to back down and the original recipe was reinstated. The customer was right!

But it’s not just about being reactive to situations, companies today are better-positioned to be proactive in instigating change.

In the current world of advancing technology, companies are already benefiting from increased access to data through consumer’s use of the internet and through digital communications. But the Internet of Things (IoT) and M2M solutions are beginning to take that one step further and enabling customers to really define what they want, where they want to buy it, and how they want to consume it.

The use of smart, connected devices provides companies with ever more detailed customer insight data. This valuable data not only helps them to refine the physical design of their products, it also helps determine distribution channels and even pricing.

But the IoT isn’t just providing opportunities for product improvements, it’s also opening up a world of new product innovations.

Just look at the humble watch, for example. Originally developed to simply the tell wearers the time whilst on the move, it’s now evolved to become a smart device in it’s own right. A hit in the fitness market, wearers can benefit from GPS features to track their exercise speed and distance whilst also monitoring their heart rate. Plus with a link to the internet via Bluetooth and Wifi, users can upload their exercise performance to the cloud to compare with other people’s and create some friendly competition.

It’s clear to see that the Internet of Things will really change the future of product and services development for organisations across the globe. But to help make these opportunities a reality, communications resellers must offer M2M solutions.

To find out about providing M2M solutions and what this could mean for your business, contact Zest4 now. Visit http://www.zest4.com or call 0161 956 3355.

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