How is wearable technology important for improving business operations?

Kapture Business Operation

Wearable technology has existed for centuries, right from abacus rings in the 17th century to pocket watches in the 20th century, and their simple purpose was to ease human efforts in performing tasks or obtaining information. With the dawn of the 21st century, wearables have evolved to include smartwatches and hyper-connected eye wear, which already have a wide range of functionalities and are continually evolving.

From the perspective of a business or an industry, wearable technology can be a valuable addition to a company’s existing mobile CRM systems. Although smartphones and tablets were a welcome upgrade from desktops and laptops in terms of portability and accessibility, wearables can take real-time cloud computing to the next level.

Increased customer connectivity

Wearable devices have a major advantage over smartphones – they deliver an always-on ecosystem that allows for quicker management of the various business processes, a few of which include managing sales queries and orders, processing marketing insight, and responding to service feedback.

However, this doesn’t imply that wearables are a substitute for the other mobile devices. In fact, companies can improve the scope of their omni-channel marketing by adding another communication channel into their marketing mix.

Customers are increasingly adopting wearables for their day-to-day use, for purposes that range from fitness, medical, and lifestyle, amongst others. What this implies for businesses is the generation of continuous, valuable data that can be gathered, processed and analyzed to obtain actionable insight into the customer’s values and preferences, so that they can tune their products and services to match their needs.

Enriched sales processes

The bottom-line objective for a sales department is to maximize the customer conversion rate. This means meeting with the right people at the right place, and at the right time. A CRM software service provides automation and database management tools that can be used to better analyze the perfect conditions for interacting with a customer.

By embedding wearables into the CRM, sales executives can easily map out and plan their calls, meetings, follow-ups, all while they’re on-the-go. By updating the CRM cloud with the relevant information, the sales executives can receive timely notifications and alerts for following-up and working on certain tasks, events, appointments and meetings.

Voice-to-text is a powerful tool available in a lot of wearables, which facilitates contact less customer data updating and organizing. While in a meeting, the executives can record the conversation for later processing, and create orders, queries and reports effortlessly in real-time. Suggestions, approvals and other kinds of feedback can be instantly registered in the CRM database, so that sales managers can start working on resolving any issues.

Real-time marketing decisions

Marketers can use wearable technology and the large amounts of customer data that is generated from them to create more targeted marketing campaigns. By gaining real-time insights, marketers can personalize their product and service offerings and directly deliver it to the customer’s device.

Cross-selling and up-selling opportunities can increase exponentially with wearables, by studying a customer’s profile and purchasing history in real-time. Also, in the context of the customer’s location, marketing managers can suggest relevant products and services that the customer might be interested in, on their wearable device.

Loyal and friendly relationships

CRM has always been about forging good, long-term relationships between a business and their customers. The general implication of this idea is that the business cannot ignore the customer once a sale has been made, and must look to continually provide value to them.

Collecting and building a substantial customer database with the information received from the customers’ activities, businesses can create more accurate customer profiles so that service and support can become more friendly and personal, and hence have a larger impact for them.

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