A recent study by Accenture found that 90% of B2B leaders agree that customer experience (CX) is critical to their companies’ strategic priorities. But B2B companies, particularly in manufacturing, often still lag behind their B2C brethren when it comes to CX. Companies that can figure out how to personalize their CX have the opportunity to create an immediate advantage over their competitors.
While technology advancements surrounding connected devices and data analysis hurtle forward – and costs and barriers to entry generally are falling – some companies still feel as if they’re missing out on something, scrambling to get on the cutting edge.
It’s safe to say that the Industrial Internet of Things (IIoT) has crossed into the mainstream. In part 1 of this blog series on monetizing IIoT, we shared some findings from MAPI’s recent white paper, developed with PwC, which focused on where U.S. manufacturers currently stand in their adoption and development of IIoT technologies. One finding in particular said it all: nearly nine in ten survey respondents said they are currently offering or are in the process of developing IIoT products or services.
As the Internet of Things (IoT) creates a world of connected devices, it also opens up possibilities to reframe established business models to deliver more customer value and more profitability. This offers companies disruptive opportunities.
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We are in the midst of the inescapable growth spurt of the internet of things (IoT) and the industrial internet of things (IIoT). One estimate puts the number of all globally connected devices at 8.4 billion, one-third of which are business and industrial products.