If you are a modern entrepreneur, you need to use internet to its fullest capacity to drive business growth. The digital world as it exists today is constantly changing and disrupting businesses everywhere. Don’t risk falling behind. Embrace the IOT (internet of things) and take a hint from the ways the following industries are changing.
Capturing Data from Commercial Driving
Commercial driving is a huge industry. No matter how efficient it is to transfer information over the web, people still need hard goods and services delivered by drivers and their logistics companies that oversee them. But often, insurance for these vehicles and drivers can reach sky high amounts. This is where video telematics comes in handy, both on the road and in training. Within the commercial driving industry it helps lower insurance by sending driving data via video to insurance companies. It rewards great driving and thus enables these companies to be more profitable.
The IOT is a gift to all marketers. Formerly, you had to purchase expensive market reports to see how prospects were reacting to your marketing messages. Today, you can track them on their mobile phones to see if your ad drives them to stores, gets them to take action, or converts them to a customer on the post. This instant data analysis allows marketers to rotate ads based on the ones getting the most conversions. This reduces wasted time and resources and maximizes ROI on ad spend across the board.
New media, such as YouTube or any online video creation, is taking the world by storm. And in the past, it would be much more expensive to deliver this kind of content to even a few people in your market. However, today you can take advantage of economies of scale and distribute your video content to users in real time. One need look no further than live streaming to see this in action. When you can engage your prospects by getting them to watch your content, comment, and chat with each other, you create a virtual community with which you can curate special content and deliver it to them at the right time.
When it comes to using technology in business, long gone are the days where innovation cycles spanned years or even decades. In today’s day and age, with digital devices and online connectivity taking the lead, things change in a matter of months. So embrace the IOT and implement strategies from the industries above to help your business grow faster and more profitably.