Avoiding the Pitfalls of the Internet of Me

More Personal Customer Interactions Raise the Stakes for Companies

The Internet of Me is here. From search results tailored to individuals to wearable technology that tracks users' every move, an increasingly personalized Internet presents the opportunity to build brand loyalty and deepen customer satisfaction.

In the Internet of Me era, companies that are not constantly gathering data to gain intelligence will not only miss out on additional ways to connect with their customers, but also on new revenue opportunities.

This new paradigm also brings new challenges. Outlined below are three common pitfalls and recommendations for the steps companies can take to avoid them:

Missing Big Data opportunities
Experts predict that more than 30 billion devices will be wirelessly connected to the Internet by 2020.1 In the Internet of Me era, companies that are not constantly gathering and leveraging data will miss out not only on additional ways to connect with their customers, but ultimately on new revenue opportunities.

With ubiquitous data collection at this level, it's possible to build an entirely transparent and automatic service with a degree of personalization we've never experienced. Imagine the advantage of local businesses that are able to deliver on-demand products and services, like TaskRabbit, which makes on-demand scheduling for just about any request possible.2

Failing to meet increased expectations
Consumers expect their wired devices and related platforms to not only work together seamlessly, but to provide them with personalized services. At a minimum, they assume data stored on a wearable device will easily sync with a program stored on a laptop, and that coupons stored in a grocery chain's app will automatically be applied at the register.

Increasingly, they expect that they will receive personalized recommendations and offers based on their shopping behaviors. Companies that fail to deliver on these expectations will lose business. To counter that possibility, products must be designed and tested to ensure they work intuitively and in all circumstances, and must apply insights from data to deliver an individualized experience.

Losing customer trust
Customers share very personal information with the companies that serve them—everything from the places they visit to the time they go to sleep. As with any relationship, a deeper connection is possible only with trust.

As companies gather more data from users, they need to establish strict protocols to ensure that sensitive information won't fall into the wrong hands. These include maintaining back-end firewalls in products and in the cloud to keep all data secure, enabling privacy choices during product set up and offering options that allow consumers to balance personalized service with their need for privacy.3

Every new technological era presents both opportunities and risks, and the Internet of Me is no exception. The enterprises that thrive will be the ones that pursue the possibilities while staying mindful of the pitfalls.