By Sandeep Kalsi, CMO, iYogi

Most organizations are missing out on broad opportunities presented by The Internet of Things.

IoT, as the basis of an automated customer service platform, can deliver higher value to customers as well as to shareholders. Making everything from refrigerators to automobiles smarter will let consumers keep food temperatures constant, or alert them when the air pressure is low in the tires – and that's just the beginning – there is so much more that companies can offer.

Driven by the Big Data that IoT naturally compiles, the next generation of service platforms won't just automate – it will enable an environment that anticipates problems before they occur. A truly intelligent customer service platform overcomes all of the common complaints of traditional automation, facilitating a deeper connection with customers – while increasing purchases and improving customer loyalty.

Best practices to stimulate more revenues through the Internet of Things include:

• Establish and maintain long-term relationships that work to the benefit of the customer and create new revenue opportunities for service providers. Newer ways of doing business encourage service providers to change their way of thinking about their customers, to deliver a steady stream of services, and provide them with continuous and long-term attention.
• Mine and leverage customer-specific big data. Discovering long-term service revenue opportunities within the Internet of Things involves more than providing basic ongoing maintenance and service. Companies must devote their entrepreneurial energy towards creating and delivering new services designed to make their customers' lives better.
• Engage in new ways of selling. A service-driven IoT environment requires an entirely new type of sales structure. Today's environment, which is increasingly delivered on an as-a-service basis, requires the sales cycle to be reconsidered, with a greater focus on continuing services as revenue generators that make up a larger percentage of total income.

A new white paper from iYogi describes how services driven by IoT can contribute to the creation of stronger customer intimacy, and why big data available from IoT is a powerful driving force for improving services for customers, in ways that have never before been possible.

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