How HEINEKEN taught me the power of IoT across the Value Chain
So, I had no idea what “Internet of Things” (IoT) was before joining HEINEKEN nor did I ever think a beer company would be the first to teach me about it. That is precisely what is so cool about the entire concept. By connecting everyday devices to the internet, IoT unlocks a treasure trove of possibilities for ALL kinds of businesses to elevate their customer satisfaction, and in turn unlock growth!
As customers, we are bombarded with options that are only marginally different. But that margin makes the world of a difference to companies that are constantly seeking ways to differentiate themselves and provide exceptional experiences. This is where leveraging IoT could be the transformative force that lifts both consumer and producer experiences.
The learning I’ve done so far at HEINEKEN has been phenomenal. The journey of a digital transformation begins with the Internet of Things, which promises to:
Revolutionize Stakeholder Experience
The internet of things allows objects to not only fulfill their basic function but also learn from user interactions, adapt to preferences, and even anticipate needs. SMART products like smart security systems, thermostats, watches, etc… are common examples of IoT applications in everyday products.
IoT empowers businesses to collect vast amounts of data on how customers interact with their products and services- and this is applicable for all stakeholders down the value chain. At HEINEKEN, it’s everyday beer consumers, restaurants and bars, sales rep, farmers, producers, to strategists. By harnessing the real-time data of every interaction these stakeholders have with the current technological infrastructure, businesses can streamline their customer service and end-to-end processes.
Data suggests that when a product, machine, or system seems to understand or anticipate our needs, we are more inclined to consistently interact with it. This leads to a better understanding of each stakeholder and ability to better serve their needs.
Master Personalization
IoT also opens doors to a whole new level of personalization. It can help digital products adapt to individual preferences without any user intervention. It can also revolutionize online platforms and services. By analysing user interaction data- businesses can fine-tune recommendations, tailor services to user habits and even predict future needs. At HEINEKEN, I saw this at play with their digital products and platforms for breweries (supply chain) and sales reps (commerce) alike.
Digitally enabling every key player allows for personalized insights and signals to bounce across the value chain- ultimately creating an efficient outcome that best caters to their customers. It builds stronger stakeholder relationships and a tighter, and more loyal value chain. At the end of the day, even the highest quality product may not beat a rock-solid relationship with the customer. The aim is, of course, to have both!
Enhance Efficiency Through SMART Operations
IoT isn’t just about keeping customers happy though. It’s also about streamlining operations to ensure a smooth delivery.
As products and machines become part of a consistently evolving digital ecosystem that can learn and adapt, businesses save a significant amount of time and money. The real time data collection through IoT devices arms firms with quick and immediate insights on how services are performing and being used. Predictive modelling then allows for catching issues before they snowball into bigger (and more costly) problems. This proactive approach can help identify and fix inefficiencies, leading to self-efficient SMART business models that fulfill every stakeholder’s needs.
Implementing the internet of things isn’t just about staying ahead with technology; it’s about redefining how businesses can interact with the people that keep them afloat. It has the potential to transform every interaction into a personalized engagement opportunity.
Now, I am still learning about how HEINEKEN does and how businesses can navigate the challenges that come with privacy concerns, data overloads, and scalability, in integrating IoT in their processes. But what I am sure about, is that harnessing the power of IoT in the ever-evolving digital landscape is crucial for all businesses seeking to maintain sustainable growth and foster deeper relationships with their users/customers.