Tech Trends
Technology

Spotting the Next Big Thing: 2023 Tech Trends and IoT Market Predictions

One of the most game-changing tech trends that have transformed into an expansive universe of smart gadgets is the Internet of Things (IoT). Any digitized objects that generate data and are connected to the internet are considered IoT. Smart technology that communicates via wireless networks to a central data station also falls under the IoT umbrella. Here are the top tech trends and predictions involving IoT to watch for in 2023.

The Internet of Healthcare Things

Among the most noticeable tech trends impacting the healthcare industry is the increasing adoption of the Internet of Healthcare Things such as connected wearables. The market value for IoT-enabled health devices is expected to hit $267 billion in 2023.

These modern medical devices, along with telemedicine – the use of digital communication for virtual meetings – connect doctors with patients remotely in real time. Wearables provide doctors with patient biological data. They further allow patients to recover at home while more hospital beds can be used for emergencies.

AloT: Unleashing the Power of IIoT Data

Artificial Intelligence of Things (AIoT) is a mix of artificial intelligence (AI) and IoT that’s used for advanced analytics. It’s based on machine learning software, which scans a massive amount of data points rapidly to generate quick recommendations for solutions to problems. Ultimately, AIoT allows you to prioritize data value over data volume.

The Industrial Internet of Things (IIoT) has helped set the pace for IoT adoption across multiple industries. Also known as “Industry 4.0,” IIoT has helped manufacturers and utility companies streamline their operations to reduce waste and cut costs. This tech trend along with any type of IoT delivers an abundance of useful data in real time. This data can be used to make quick decisions that prevent losses. Retail store managers can use the data to adjust prices in real-time based on demand.

Adoption Soars for Predictive IoT Technology

Accurately predicting the future has been a challenge for every business, but the convergence of IoT and AI technology produces better forecasts. Consider the enormous amount of data evaluation that goes into a machine learning system. It uses complex algorithms to estimate probabilities most people don’t know how to calculate.

The use of predictive IoT can cut maintenance costs by ten percent, according to a study by Deloitte Analytics Institute. That’s significant since 70 percent of a manufacturer’s cost is maintenance. Predictive IoT is among the top tech trends in 2023 that can generate savings in multiple other ways as well. A retail store can use predictive software tools to forecast daily foot traffic and which sections of the store get the most attention.

Digital Twins and the Enterprise Metaverse

The metaverse connects the physical and digital worlds, creating virtual experiences. These tech trends including the concept of digital twins, or digital representations of real-world products, have been around for a few decades. Both digital twins and 3D printers have revolutionized prototyping, which has accelerated the pace of innovation.

The main benefits of digital twin technology have been faster and better quality production. Digital twins allow designers to experiment with different configurations to evaluate product quality and performance. Furthermore, digital twins can accelerate a product’s time to market by 50 percent while improving product quality by 25 percent, according to McKinsey.

The growth of digital twins across several industries is evident from a 2022 Gartner study, which found that 17 percent of manufacturers have adopted the technology. Meanwhile, 27 percent said they would be adopting digital twins by 2024. Industrial firms are increasingly using digital twins combined with metaverse applications such as virtual reality (VR). This combination produces an effective model for predictive decision-making.

IoT Security

One of the most in-demand and top tech trends in 2023 and beyond remains centered on IoT security. No matter how sophisticated IoT technology gets, it requires strong security to protect confidential data from hackers. That’s why businesses are expected to spend $6 billion on cybersecurity in 2023. At the same time, smart device manufacturers are working on building greater security into IoT products. The U.S. government via the White House National Security Council is planning on setting industry standards for labeling cybersecurity risks in early 2023.

Innovations In Sensor Technology

The reason IoT has been widely embraced by industrial organizations is that sensors can be applied to various production elements to measure output and efficiency. IoT sensors can generate measurements such as temperature, humidity, force, pressure, and other environmental or mechanical conditions. Due to the value IoT sensors can produce, the industrial automation sensors market is expected to surpass $22 billion by 2029, according to a study by Research and Markets.

Photorealistic XR

The age of photorealistic experiences has arrived with the advent of XR hardware and software. Some of the leading pioneers in this development are NVIDIA with its Holodeck software, Unreal Studio and Trezi. The more people engage with these platforms, the more it will raise their awareness of visual fidelity. You can expect photorealistic XR developers to improve their products in 2023 as demand increases for virtual 3D experiences.

One of the reasons for the rise in demand for virtual 3D experiences in recent years has been tied to the pandemic. The need for social distancing caused real estate firms to speed up the adoption of augmented reality (AR) technology, which combines the real and digital worlds to provide home buyers with virtual experiences of home tours using headsets.

Economic challenges such as reducing transportation costs have also triggered the wider use of AR across multiple industries. Retailers will particularly need to adopt AR to help consumers make purchasing decisions online. The practice of live-stream shopping is now well-established in China and is spreading worldwide. Economists expect the global market for live stream shopping to reach $770 billion in 2023.

Private Network Ecosystem Fuels Demand

We spend 80% of our time inside buildings so 80% of wireless voice and data is generated and consumed indoors. This, first of all, presents unique challenges for wireless connectivity. Hence carriers have launched BYOC – build your own coverage – programs. And equipment vendors are focusing on 5G RAN and DAS – distributed antenna systems – solutions. Second, more and more large enterprises want networks that can be installed and managed by their in-house IT staff. The driving force is that more employees need to access work tools from their phones, things like collaboration tools and the ubiquitous two-factor authentication. And since the network starts and ends in their own buildings, these companies are looking for private 5G mobile networks to supplement other kinds of connectivity. The privacy factor is a driving force, but a cellular network solution is also attractive because it is easier to scale than Wi-Fi.

Conclusion

Staying up to date with the latest tech trends in smart technology will prepare you for what to expect from IoT predictions and development in 2023. The number of devices populating the internet will continue to expand astronomically along with big data. The rapid growth of IoT technology has empowered business leaders to do things that weren’t imaginable a few decades ago. Businesses that want to gain a competitive edge this year should have a clear understanding of emerging IoT trends.

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Virtual Events Benefits
Events

10 Big Benefits of Virtual Events

An explosion of virtual events unraveled during the pandemic, ushering in and solidifying a new digital era. Many businesses learned to use the internet in multiple ways to maintain operations, such as conducting virtual meetings or hosting hybrid events. Here are ten compelling reasons for businesses to plan virtual events.

1. Larger Audience and Global Reach

Virtual events do not have the limitations of physical location or attendance caps, thus allowing for an unlimited number of participants as long as they have a device and internet connection to access the platform. Also, attendees of virtual events do not have travel or scheduling challenges. These days it’s easier to get more people to sign up for an online event than attend a physical event.

It is easier to promote virtual events through websites and social media channels since you are not limited to a local market segment; you can reach out to the global market. This allows for a global audience to participate and expands the reach of the event to include people from all over the world, regardless of their location.

2. More Connections, More Leads, More engagement

At a traditional convention, it’s challenging to network, collect leads, take notes, keep your leads and notes organized while many attendees themselves are busy handing out business cards, and let’s not forget to follow up after the event. Everybody has his/her own system, and attending conventions has its advantages, but you can generate a long list of qualified leads through online surveys and networking.

Networking during a virtual event may seem challenging, but it offers more advantages than you might think. Sponsors and exhibitors tend to have more effective engagement when interacting virtually one-on-one with attendees, rather than in a large exhibition hall where it can be challenging to establish as many solid connections as you’d like.

3. Cost & Time Savings

Organizing a convention is much more expensive than a virtual event. The main costs to consider for a virtual meeting are access to a streaming platform and cloud services. Virtual events save time for your organization and for the attendees. You’ll need to put in some time to plan your virtual event, but not as much as if you were planning a public event. Getting access to a virtual event is also easier; your registration email will include a link with access to the virtual event. Getting access to a physical event is slightly more complicated: first, you have to find the registration counter or area, which can be a challenge, the larger the event is before you can print your event badge and get your lanyard.

4. Flexible, Versatile, Easy to Access 

Virtual events are not a replacement for physical events, but a new type of event to add and enhance the mix of events that you organize. And you can choose to organize your event as a webinar, a virtual conference, a hybrid event, a virtual exhibition, a virtual seminar, or a virtual trade show. For attendees who cannot tune in to the live broadcast, you can provide on-demand content based on event highlights and deeper information. The more quality content options you offer, the more potential for wider engagement.

Virtual meetings can be short or long and take on any of the formats mentioned above. You can customize the event for your business.

5. Availability

Online events don’t necessarily need to be live. You can make pre-recorded content available to subscribers for a fee, just as if you were charging for a live event.

6. Higher Attendees’ Engagement

To keep virtual event attendees engaged and focused, it is important to create a fully immersive experience, which can help to reduce distractions from digital and home-related sources. To keep your audience engaged you should consider and prepare: Live polling, Push notifications, live Q&A, Surveys, Compelling additional content, networking opportunities, Live keynotes, and On-Demand content.

Many people feel comfortable with online interaction because it allows for their voices to be heard by a community. It also makes it easy to build new relationships. Tracking virtual event attendees’ opinions is easy by offering online surveys. You can collect valuable information on your target market. And Live chat allows attendees to ask questions and get answers in real time. It eliminates the problem of someone on a microphone not being heard clearly by the audience.

Virtual events are modern social centers that allow people to connect with new friends who share similar backgrounds and interests. It’s possible to find long-term business partners through online networking.

7. Measurable Results

Another huge advantage to a virtual event is that it allows you to collect a wealth of data about your attendees. It can help you build a responsive marketing list.

Not only will you learn how many people are attracted to your virtual event, but you’ll also find out details about attendees. It will help you plan your next virtual meeting.

8. Lead Retrieval is Made Easy

When you use digital methods for retrieving leads, it’s easier to integrate with your e-marketing platform. You can input data from leads directly from their event badges.

9. Virtual Events Increase Sales

Since virtual events can reach larger audiences than physical events, it’s possible to increase your numbers. You prime the pump by developing the event for your target market and making sure that your customers and prospects are attending. It requires preparation and follow-through, starting with identifying and nurturing (hot) prospects before the event, teaching base with your prospects during the event, updating your list of hot prospects immediately after the event, and following up with your prospects after the event. With this methodical approach, you can reach out to more prospects and create at least three touchpoints per prospect as part of a virtual event.

10. Content for Post Event

One of the advantages of an online event is that you have lots of content at the end of the event. You need to hire a specialized team to record the various keynote speeches, panel discussions, and talks at a physical event. In a virtual event, this can be done during the event at no additional cost.

After the event, this material can be used to promote the next editions, it can be used as an online course, or for marketing, engagement, or other purposes. Don’t forget to add a copy of the event to your on-demand video channel, your YouTube channel, and other social media channels.

Conclusion

Your business can become more competitive and productive by engaging in virtual events with your personnel and customers. This emerging mode of business communication opens up new opportunities for training staff, showcasing products, and generating leads. Whether you make online presentations or mix the internet with live discussions, virtual events can modernize and elevate your business.

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Overcome Sales Draught
Marketing & PR

IoT Marketing Tips: How to Overcome a Sales Drought

Every IoT marketing team will experience a dip in sales and it is important to understand the best ways to bounce back from a sales drought. The lack of sales opportunities does not have to be a disaster. Instead, it can be a great learning experience that can help you in the present and future. A dry period in sales is an excellent time to experiment and try new sales techniques.

The Internet of Things (IoT) technology is a popular trend in the IT world that has also experienced the usual highs and lows of a sales cycle. Understanding these cycles can help keep your company growing at a steady rate without any dips in activity.

Here are just a few mistakes that you need to avoid and the best ways to bounce back stronger than ever:

Don’t Be Anxious

Experiencing a drop in sales over an extended amount of time can cause anxiety and unrest. Many anxious salespeople overcompensate at each sales opportunity, which makes it even harder to attract new clients. Learning to stay calm will not only improve your well-being but make it much easier to climb out of a dry sales period. Allowing anxiety to control your actions will only make it more challenging to complete sales and creates an even more stressful work environment.

Avoid Buying Lists

No one enjoys receiving unsolicited spam that quickly fills their inbox on a daily basis. As you may know, buying email lists will produce a high quantity but low-quality amount of leads. Many potential clients consider this form of advertising as spam and it can do more harm than good. Mass emailing is typically not worth the time and effort, as the costs can quickly add up without any results.

Limit Discounting Offers

Everyone enjoys a discount, but it is best to offer them only on a limited basis. Constant discounts attract the wrong clients and can significantly reduce the amount of profit of any IoT marketing scheme. While periodical discounts may be worthwhile, the vast majority of the time it is best to offer your services at a steady price that is both good for you and your clients.

Experiment with New Ideas

One of the best ways to attract new customers is through continual experiments that can transform your company from a dry sales period to an overabundance of quality sales leads. Regularly update your email and call scripts to create a fresh encounter with each potential client. On the other hand, using the same techniques repeatedly will make the sales process much less effective and stale. Experiment with new sales pitches to understand which are the most effective in specific situations. Over time, you will be to create a compelling sales pitch that can be the catalyst in growing your consumer base.

Abundance Mindset

One of the best ways to avoid a sales slump is maintaining an abundance mindset. An abundance mindset will keep you motivated to constantly look for new sales leads and avoid making common mistakes. Instead of being disappointed over a missed sales opportunity, you can quickly bounce back because you know there are many more sales opportunities available.

Wrapping It All Up

The use of these IoT marketing techniques can be the difference between a successful or unsuccessful company. Taking the necessary time to avoid these common mistakes can help you grow your consumer base and avoid entering a sales slump. As you know, the IT world is extremely competitive and it is important to learn the sales techniques that work best for your company. Over time, you will create a steady growth pattern for your company by avoiding these common mistakes and taking advantage of each sales opportunity.

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In-Person Events
Events

In-Person Events: Where they Shine, and Where There Might Be a Problem

There is something unique about in-person events and gatherings that cannot be replicated through virtual communications. The psychological and physical realities of such meetings make them more memorable. An in-person event has a lot to recommend which also means there are a lot of benefits and drawbacks that come with it. Here we’re going to explore both the advantages and disadvantages of in-person events.

Benefits of In-person Events

  • Emotion That’s Fully Realized: Experiencing All Seven “Senses”
  • A Unique and “Non-Fungible” Experience
  • The Feeling of Being a Part of a Larger Undertaking
  • Instantaneous Communication Capability
  • Sellers Make Connections and Close Deals More Quickly
  • Prospects, Customers, and Sellers Can All Network More Efficiently
  • Giveaways Including SWAG and Other Things Expand Brand Awareness

Emotion That’s Fully Realized: Experiencing All Seven “Senses”

There’s taste, sight, touch, sound, and smell. But there’s also the emotional sense of belonging, and that nostalgic quality inherent to good memories. These are additional “senses”, and, good or bad, they can’t be replicated through a remote event. You’ll only find them at a physical event. Such senses make these events memorable.

A Unique and “Non-Fungible” Experience

NFTs are Non-Fungible Tokens. They can’t be replaced. Owing to sensory uniqueness and the specific quality of in-person events, they’re “non-fungible”. Real memories that can’t be replicated are made, and individuals share experiences together, which knits them closer in a “team” sense

The Feeling of Being a Part of a Larger Undertaking

When you’re in a large in-person event, you’re part of a collective working together toward a common goal, even if that goal is selling your company better than neighbors in the convention. Both of you are working toward business success.

Instantaneous Communication Capability

If you want to reach out to a colleague, competitor, or collateral vendor, just make some noise. You can communicate with people directly. That’s convenient and “tangible”.

Sellers Make Connections and Close Deals More Quickly

You can meet customers directly, be they adjacent to your industry, or part of the customer group you serve. Sales can be made easier. In-person sales are superior to remote sales.

Prospects, Customers, and Sellers Can All Network More Efficiently

Everybody can network together more efficiently, whether or not there are any sales opportunities. Networking is key to long-term success as a business.

Giveaways Including SWAG and Other Things Expand Brand Awareness

Stuff We All Get (SWAG) can be branded, helping to build brand awareness. You can send people home with a little cup, bag, or pen that has your company name on it, and accordingly keeps your business in the minds of attendees.

It’s Not All Beneficial, Though; There Are Drawbacks

Even so, an in-person event is going to have drawbacks, just as remote events do. Here are some to consider:

  • Reach is Inhibited by Actual Location; Decentralized Events Are Everywhere
  • Higher Costs
  • Work-Life Balance is Disrupted
  • Asocial Attendees May Experience Alienation, or Travel Issues
  • Data Collection Isn’t Always Accurate; It’s Often Conversational
  • In-person Events’ Finite Time Means Little to No “Evergreen” Content Can be Recouped

Reach is Inhibited by Actual Location; Decentralized Events Are Everywhere

Unless in-person events are huge, they’re going to be limited to one location, meaning only those who are able to attend would benefit. Remote events can reach the whole world, whether they’re large or small, owing to the internet.

Higher Costs

Collateral costs are higher. Budgets must be approved. Travel is expensive. Booths must be set up, transported, and torn down. Merchandise acquisition and distribution are necessary. Dinners between business partners and vendors can be expensive, and the list goes on.

Work-Life Balance is Disrupted

Traveling to a big event upsets the “apple cart” of your daily routine, and it can be hard to return to it. Remote events fit right in like a puzzle piece.

Asocial Attendees May Experience Alienation, or Travel Issues

Especially in tech atmospheres, attendees may have social hang-ups that may make such events uncomfortable for them, collaterally reducing how effective they can be, and what they can get done.

Data Collection Isn’t Always Accurate; It’s Often Conversational

Collecting “information” from conversations is less reliable than having a recorded version of the conversation that can be referred to later, as is possible through a remote event utilizing Zoom or something similar.

In-person Events’ Finite Time Means Little to No “Evergreen” Content Can be Recouped

Because there’s no recording, an in-person event is over when the weekend ends; or the week, depending on the scope of the event. Remote events can be recorded and re-used in an “evergreen” sense almost indefinitely, depending on their subject matter.

Determining How to Proceed: Different Kinds of Events Maybe be Appropriate

When the dust settles, there are advantages and disadvantages to in-person events. Sometimes your company may want to hybridize, offering either category throughout the fiscal year and exploring associated outcomes. Sometimes you combine an event to make it both in-person and decentralized by utilizing zoom-based web portals. These are the general benefits and drawbacks of these diverse events; hopefully, they help you make decisions that reflect your company’s needs and values.

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Virtual Events Benefits Drawbacks
Events

Virtual Events: Exploring the Real Benefits and Drawbacks

Virtual events became realistically feasible during 2020, and that feasibility has become greater in the following years. Future lockdowns won’t be as disruptive owing to decentralized virtual events. That said, there are benefits and drawbacks to consider which we’ll explore here.

Pros and Cons of Virtual Events

The Pros:

Ease of Accessibility and Lower Costs

An event in Los Angeles requires air travel, taxis or Uber pick-up, hotels, food, and more. Though such things may technically be tax-deductible, the costs are still there. This inhibits the accessibility of attendees. 

Less Pressure and Stress

You don’t have to manage travel, you don’t have to reserve a weekend on a calendar, and you don’t have to reserve a venue. Planners just have to set up a virtual event, attendees just have to set aside some time. Altogether, the pressure on involved parties is reduced.

More Effective Data Can Be Obtained

Virtual events can be recorded in real-time, then sent to those who can’t attend, or prospective future clients. Direct data can be accurately recorded; every attendee touchpoint – registrations, attendance, sessions selected, time spent in a session, content downloaded, etc. – can be tracked and put to good use. In-person events are more anecdotal and chaotic.

Return On Investment (ROI) Can Be Much Higher

Because the costs of virtual events are essentially time, electricity, and bandwidth, they’re exponentially less expensive than physical events. Accordingly, there’s a much greater Return on Investment or ROI.

More Extensive Sales Opportunities

At virtual events, better data makes it easier to “sell” every single eligible attendee. You can’t do that at a physical, in-person event; you might not even be able to determine the extent of attendees.

Broader Reach

Virtual events can actually reach any country anywhere, provided there’s an internet connection. Physical events only really reach those who attend or those who “tune in” digitally. Unless the physical event is very large, like a comic con or G4 convention, going the virtual route is likely superior.

Audience Choice is Ultimately Enhanced

At a physical event, attendees may be forced to choose between one event and another, missing key information from a presenter they value. With virtual events, they can watch presentations at their leisure, as all things are recorded.

Virtual Events Are More Scalable

Scalability of virtual events essentially involves increasing who can attend, etcetera. You just have to toggle a few settings in a software display. With in-person events, scaling out can cost thousands of dollars and be almost impossible.

The Cons:

Budget can be used more effectively, sales increase, there’s a better choice for attendees, etcetera. However, despite these clear benefits, virtual events do have certain drawbacks to consider. You need to factor these in as you go about planning professional events for your company. Next, we’ll look at a few things that definitely need to be considered.

Attendees’ Full Attention Aren’t Guaranteed

Because virtual events are usually attended by people in their homes, they often don’t give such events full attention. They may be distracted by a device or family life. As an event organizer you will have to focus on continuous attendee engagement.

Limited opportunities for Sponsors

Sponsors understand the difference in engagement and the low cost of such events, so they’re less likely to underwrite expenses. This can potentially reduce event revenue, however as a virtual event organizer you can offer your sponsors valuable attendee touchpoints, advertising, and promotional opportunities pre, during and post event. As well as detailed attendee engagement details.

Technical Errors Can Impede Virtual Events

Technical difficulties exist at any event. With a virtual event, this can stop the momentum. However, virtual events often have an added layer of security built-in since they can fall back on pre-recorded content. 

Higher Chance of No-shows

It is easier to drop out of a virtual event. Losing attendees is never fun, but every virtual event platform offers several ways to combat attendee drop-off. Developing a customizable email workflow to combat attendee drop-off is a high priority for every event planner.

Reduced Networking Opportunities 

Nothing beats the face-to-face physical interaction. But we can come very close with impromptu engagements during a virtual event with chats, P2P messaging, video calling, private meeting rooms, etc. And while we cannot recreate the physical interaction, we can keep several virtual interactions going on at the same time.

Virtual Event Hosting Realities Indicate Variable Success

Virtual events can be very effective, how effective depends on the approach. Sometimes you’ll want to lean into virtual events exclusively, in other scenarios a hybrid mixture incorporating web cam feeds and the like may be worth considering. Hosted and managed properly, virtual events can be very effective. Regardless of the type of event that you choose; if you focus on providing your attendees an unforgettable experience than you can be assured that the benefits will far outweigh any potential drawbacks.

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IoT Technology Milestones
Internet Of Things

Major Milestones in IoT Technology History

Understanding today's IoT technology becomes clearer when you learn how it was developed over the decades. Since the early eighties, the IoT industry has gone through major milestones that define the wide range of ways it can empower a business. Here are some of the most important milestones in IoT history.

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Nikola Tesla’s Inventions

Nikola Tesla was a Serbian American inventor, electrical engineer, and physicist who is best known for his contributions to the design of the modern alternating current (AC) electricity supply system. But he also made several major contributions to the field of radio communication.

He patented the Tesla coil - a high-voltage, high-frequency transformer that is used in radio technology and other applications – in 1891. And in the same year, he demonstrated wireless transmission using the Tesla coil. With his newly created Tesla coils, Tesla soon discovered that he could transmit and receive radio signals when they were tuned to resonate at the same frequency.

Tesla designed an early radio transmitter and receiver, which he demonstrated in 1893. This was one of the first demonstrations of wireless communication. He also presented the fundamentals of radio in 1893 during his public presentation, "On Light and Other High-Frequency Phenomena."

In 1897, Tesla conducted a series of experiments in which he transmitted radio signals over a distance of several miles. This was one of the first demonstrations of long-range radio communication.

An article from pbs.org discloses a timeline of Tesla’s revolutionary demonstration for its radio patent. It mentions that at the Electrical Exhibition of 1898, in Madison Square Garden, Tesla staged a scientific tour de force, a demonstration completely beyond the generally accepted limits of technology. His invention, covered in patent No. 613,809 (1898), took the form of a radio-controlled boat, a heavy, low-lying, steel craft about four feet long. 

Inasmuch as radio hadn't been officially patented yet (Tesla's basic radio patent was filed in September 1897, but granted in March 1900), examiners from the US Patent Office were reluctant to recognize improbable claims made in the application "Method of and Apparatus for Controlling Mechanism of Moving Vessels or Vehicles." Confronted with a working model, however, examiners quickly issued the approval. Tesla's radio-controlled boat was an early precursor of modern drones and other remotely controlled vehicles.

Finally, in his 1926 interview with John B Kennedy, Tesla basically predicted the internet and smartphones.

"When wireless is perfectly applied the whole earth will be converted into a huge brain, which in fact it is, all things being particles of a real and rhythmic whole. We shall be able to communicate with one another instantly, irrespective of distance. Not only this, but through television and telephony we shall see and hear one another as perfectly as though we were face to face, despite intervening distances of thousands of miles; and the instruments through which we shall be able to do this will be amazingly simple compared with our present telephone. A man will be able to carry one in his vest pocket."


RFID

Radio-frequency identification (RFID) uses radio-frequency technology to identify and track objects. Connecting an RFID reader to the Internet allows us to identify, track and monitor the objects attached with tags globally, automatically, and in real-time. The foundation of modern RFID was developed during and after WW2.

In the decades before WW2, radar had taken a huge step forward as Dr. A. Hoyt Taylor of the U. S. Naval Research Laboratory experimented with high-frequency radio waves at the confluence of the Anacostia and Potomac Rivers. Soon after, the convergence of radar and broadcast technology formed the precursor to RFID. And in 1948 Harry Stockman published “Communication by Means of Reflected Power.” This paper, which many consider the first paper on RFID, highlighted the possibility of point-to-point communication using radio waves.

During the second world war, a military application of this technology was developed to identify enemy aircraft; the long-range transponder systems known as identification, friend, or foe (IFF). The first IFF transponders were introduced after the Battle of Britain. Some experts regard this as the original RFID application.

The 1960s saw the emergence of several companies devoted to RFID technology. Sensormatic and Checkpoint, for example, were founded in the late 60s. In an effort to limit theft, these companies developed tracking solutions we take for granted today — electronic article surveillance (EAS). Featuring tags attached to merchandise, this system can sound the alarm if unpaid merchandise is removed from the store or taken into the restroom.

The 1970s delivered an explosion of academic progress on RFID. In 1973 Mario W. Cardulla filed a patent for a rewritable active RFID tag, and in the same year, Charles Walton filed a patent for a passive RFID tag. The term RFID was, officially invented in 1983 by Charles Walton when he filed the first patent with the word 'RFID'.

It wasn't until the 1980s, however, that RFID began to be used more widely. During this time, RFID was used in transportation and logistics to track packages and containers, and it was also used in manufacturing to track parts and components. Since then, RFID has become increasingly prevalent, and it is now used in a wide range of applications, including supply chain management, inventory control, asset tracking, and even in consumer products like credit cards and passports.


The Arpanet

Electronic networking began with the Advanced Research Projects Agency Network (ARPANET), a computer networking project of the United States Department of Defense's ARPA (aka DARPA). The ideas for the first network of interconnected nodes were developed in 1966 by J.C.R. Licklider and Bob Taylor. They integrated their ideas with those of Donald Davies on packet switching to formulate a plan for computers to exchange data.

The first computers of this network were connected in 1969 at UCLA and Stanford Research Institute. Soon other nodes were added at the University of California, Santa Barbara, and the University of Utah School of Computing. ARPANET was declared operational in 1975 and expanded in the early eighties. It was decommissioned in 1990 after the formation of partnerships among telecom and tech companies led to the commercial development of the internet.


The First Connected Soda Machine

In 1982, students at Carnegie Mellon University developed the first soda machine to connect with the ARPANET. This experiment inspired a wave of inventors to embed IoT technology that connects with the internet into their products.

The Coke machine was set up with six columns of bottles that each had indicator lights that would turn red when a column was empty. The students installed a board that tracked the status of each light. The board was connected with the ARPANET, which only served less than 300 computers then. The system also tracked how many minutes bottles had been in the machine since restocking. Anyone on the ARPANET could access the machine's data. It saved students from a long walk when the machine was empty.


Launch of the TCP/IP Protocol

The adoption of the TCP/IP Protocol in 1983 marked the beginning of an ARPANET standard that continues for the internet through the present. The previous year, it had been declared a military standard by the Department of Defense. This set of standards defines how data is packetized, transmitted, and received. These standards are maintained by the Internet Engineering Task Force (IETF).

The TCP/IP Protocol was considered much more powerful and flexible than the earlier delivery system used to route data through the ARPANET. This transition was an important shift to what became known as the internet. The two main developers of the new system were Robert E. Kahn and Vinton Cerf, who had both also developed the existing NCP protocol.

The new system broke data down into packets that were sent through routers and then reassembled at the recipient's location. Data processing occurs at the TCP level then packets are transferred to the IP layer, which includes destination port numbers and IP addresses.


Autonomous Navigation

An early autonomous navigation project was at Carnegie Mellon University (CMU) in 1984 with a project called "NavLab". The goal was to create a machine with autonomous navigation controlled by computer vision. It was funded by DARPA, which aimed at building an Autonomous Land Vehicle (ALV).

At the time, the technology called for using indoor robots attached to cables. The first self-contained vehicle was the NavLab 1, developed in 1986 from a Chevy van, which cost $1 million. The follow-up model was designed to be an army ambulance, reaching a speed of 70 mph on rough terrain. These early models lacked sensor sensitivity and other modern features. Several engineers of these early models migrated to Google and other manufacturers working on self-driving cars. The Navlab project at CMU still continues to this day. The latest vehicle is Navlab 11.


Rise of the World Wide Web

Tim Berners-Lee at CERN began to envision the World Wide Web in 1989. It was built on a packet-switching network that soon integrated with satellite-based Global Positioning System (GPS) technology. Berners-Lee opened this system to the public in 1991. At MIT in 1994, he went on to found the World Wide Web Consortium (W3C), which is now the main international standards organization for the web.

The W3C was supported by DARPA and the European Commission. Within a few years of inception, the W3C expanded to offices around the world. Today, the W3C partners with hundreds of organizations to develop protocols and guidelines for the web, including HTML updates.

The popularity of the WWW exploded in the mid-nineties, fueling the dotcom boom. Soon every business needed a website and needed to communicate electronically through email. These changes alone were significant, even if businesses overpaid web designers for simple web pages. It marked the beginning of online storefronts such as Amazon.


Early IoT Devices

The first IoT device is often considered to be a remote control toaster made by John Romkey in 1990. The toaster could be turned on or off over the internet, as the toaster is connected to TCP/IP networking. Within a few years, webcams started to appear such as the coffee-monitoring Trojan Room Coffee Pot at the University of Cambridge in 1993.

The concept of smart home devices began to surface in 2005 with the Nabaztag, an early virtual assistant with an electronic voice, which communicated with homeowners on stocks and weather. Many tech historians consider 2008 to be the beginning of the modern IoT era. That's when the number of connected computers exceeded the number of people on the planet, according to Cisco IBSG.

The term "The Internet of Things" began to appear on Gartner's emerging technology lists in 2011. Starting in 2013, thermostats and home lighting began to incorporate IoT sensors, allowing homeowners to control temperature and lights from their smartphones.


Introduction of Wearables

Some people might credit the first wearable as an abacus ring worn by Queen Elizabeth I of England in the 16th century. But as far as electronic devices dialed into the internet, Steve Mann designed a backpack mounted to a computer in 1981. In 1994, Mann demonstrated an internet-connected camera that was able to capture images on a computer from the internet, ushering in the wearable webcam era.

As the internet grew in popularity in the nineties, several other internet-connected devices began to appear on the market. In 1996, DARPA hosted a "wearables in 2005 workshop" to give consumers a peek into the future. Then in 1997, Carnegie Mellon University, MIT, and Georgia Tech collaborated on hosting the IEEE International Symposium on Wearables Computers (ISWC), unveiling papers on new sensors and hardware capable of connecting online. Mann invented and introduced the first smartwatch in 1998.

Wearables have become widespread in the healthcare industry and have helped save many lives. It had become such a large market for IoT designers that by 2018 the term "Internet of Medical Things (IoMT)" had emerged. This class includes devices that monitor heart rate and blood glucose levels. It's a fast-growing market, projected to reach $176 billion by 2026.


Coining of the Term "IoT"

The term "Internet of Things" was coined in 1999 by Kevin Ashton, who was the Executive Director of Auto-ID Labs at MIT. He used the term during his product demonstration for Procter and Gamble. Ashton combined the ideas of RFID and the internet. His development of a network of academic research labs led to the RFID-based identification system called Electronic Product Code (EPC).

The term "IoT" started gaining media attention in 2004. But the popularity of the term took about a decade to blossom. In 2010, usage of the term began to pick up with Google's StreetView service, but it really wasn't until 2014 that there was a mass awareness of the term. That's when Google announced it was acquiring Nest for $3.2 billion.

Another sign IoT was going mainstream was its inclusion at the annual Las Vegas-based Consumer Electronics Show (CES) in 2014. As knowledge grew of the term, similar terms such as "Industrial Internet of Things (IIoT)" gained widespread use in tech publications. People now commonly use the term "IoT" when referring to smart energy meters, home automation and wearable devices. Any physical objects embedded with sensors and linked through wireless networks are considered IoT devices.


Internet-Enabled Appliances

After the development of Bluetooth 1.0 in 1999, the new century would begin to see an explosion of internet-enabled appliances. In 2000, LG announced the world's first internet-enabled refrigerator, the Internet Digital DIOS. Even though it wasn't a big hit, it's remembered as the beginning of internet-enabled appliances. One of the reasons it didn't sell well was its high price.

Soon many other internet-connected appliances began to appear on the market. The Sony Ericsson T36 was the first mobile phone to integrate with Bluetooth in 2001. As the press began to use the term "IoT" more in 2004, depicting warehouses full of hundreds of wireless sensors, interest, and demand for IoT devices began to grow. During this time awareness of RFID also escalated.


IoT is Born

In 2008, the IoT boom began. By 2009, Bluetooth 3.0 allowed for high-speed transfers over Wi-Fi and Google was testing self-driving cars. In 2010, a company composed of former Apple engineers called "Nest" began manufacturing smart home appliances. Its first product was a thermostat capable of learning user habits to develop a heating schedule. Today Google Nest makes smart speakers, smoke detectors, security systems and various other smart devices.

Using the things/people ratio as a metric, and defining the start of the Internet of things as "simply the point in time when more 'things or objects' were connected to the Internet than people", Cisco Systems has estimated that the IoT was "born" between 2008 and 2009, with the things/people ratio growing from 0.08 in 2003 to 1.84 in 2010.


LPWAN

Without LPWAN the Internet of Things wouldn’t be what it is today. LPWAN (Low-Power Wide-Area Network) is a type of wireless communication network that is designed to support low-bandwidth, low-power, long-range connectivity for IoT devices and other wireless sensors. LPWAN technologies are optimized for energy efficiency and can support devices that need to run on battery power for long periods of time. They are often used in applications where it is difficult or impractical to provide power to the devices or where the devices need to be deployed in remote locations. Some examples of LPWAN technologies include LoRaWAN, Sigfox, LTE-M, and NB-IoT.

The history of LPWAN goes back to the late 1980s and early 1990s. Although at that time they were not called LPWANs. ADEMCO built AlarmNet a 900MHz network to monitor alarm panels. The network was designed for low data rates. Similarly, Motorola built ARDIS: a low-speed wireless WAN.

Two decades later, interest in LPWAN technologies re-emerged when Sigfox, which started in 2009, built the first modern LPWA network in France. And of course, at that time radio technology had become less expensive, and the tools for integrating applications had become much easier to use. As new toolsets and platforms began to emerge, it became easier to build and integrate data from remote devices into applications.

So, it is true that a lot of recent technology looks similar to the sensor-driven networks we’ve seen in the past, but one of the major differences is the newly available online integration. This integration allows for real-time monitoring insights, which has propelled LPWANs forward.


The Emergence of Satellite IoT

While satellites have been used for asset tracking and remote telemetry application since the late 1970s, satellite connectivity for Machine-to-Machine and IoT applications was always considered to be a last resort alternative to terrestrial networks, mostly due to its higher costs. But recently, there has been a renewed interest in satellite-based IoT connectivity.

Satellite IoT is used in a variety of applications, including remote monitoring, asset tracking, and emergency communications. It is often used in remote or rural areas where it is difficult to provide terrestrial connectivity, or in situations where terrestrial networks are unavailable due to natural disasters or other disruptions. The renewed interest in satellite IoT is driven by the growing demand for connectivity and communication in these remote or hard-to-reach locations, as well as the increasing adoption of IoT technology in all industries.

In addition, the development of new satellite technologies and the decreasing cost of satellite hardware and services have also contributed to the growth of satellite IoT. These developments have made it more feasible and cost-effective to use satellite technology for IoT applications, which has helped drive the adoption of satellite IoT.

In the past four years, we’ve seen the launch of various satellite-based low Earth orbit (LEO) networks. Almost two dozen start-ups and existing satellite operators have announced plans to deploy or have commercially launched satellite IoT networks that promise to deliver low-power, low-cost connectivity to IoT devices directly from space.

Unlike terrestrial networks that cover only about one-fifth of the planet’s surface, satellite networks can provide coverage to nearly all of the Earth’s surface and help accommodate the increasing IoT connectivity needs in isolated or inaccessible areas.

Hybrid connectivity, which allows IoT devices to use cellular connectivity as their primary option and switch to satellites when moving to areas with no terrestrial network coverage, will take satellite IoT to the next level. Hybrid connectivity is possible due to the emergence of single communication RF chipsets that are supporting Satcom and cellular bands.


Conclusion

These key milestones in IoT technology helped chart the course of business networking technology through today. The more businesses want to learn how to make their operations more efficient, the more demand for IoT will increase.


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Internet Of Things

Tips for Your IoT Business: Getting Through a Gatekeeper

One of the most effective IoT business techniques is getting past a gatekeeper and communicating with a decision maker that will ultimately enable you to gain a new client. As you may know, it is very rare to get in contact with a decision maker on the first call. Instead, you are typically talking to an administrative assistant or an intern, which is also known as a gatekeeper. These employees are the primary obstacle between you and a successful sales transaction. Ultimately, the decision is in their hands if they decide to tell someone else in the company about the value of your product.

Understanding how to get a gatekeeper to let you talk to a decision maker is a critical step— that is usually the difference between a successful or unsuccessful sale. Here are a few ways that you can get them to buy into your vision, which will lead you into direct contact with a decision maker that can choose to use your services:

Provide Value

Providing value about the various ways that a company can use the Internet of Things is the first step in your sales process. Clearly communicating with a gatekeeper will help them understand the value of your technology and you will be much more likely to get into contact with a decision maker that can choose to use your product long-term.

One of the best ways to provide value is to minimize the risk involved and expand on the various rewards. You can also talk about the many problems that you can solve and how it can be of help in completing individual goals. As you know, each company has unique needs and the ability to identify these needs can be the difference in gaining a new client.

Create Trust

Another excellent IoT business tip is the ability to gain trust from a potential client. Building trust is not a complicated process, it simply consists of honesty and being straightforward. As you may know, a company has three needs that include company, department, and individual. Building trust in all of these compartments is critical in having a successful relationship that can help them save much-needed money and time. The use of testimonials is a great way to show a client that you follow through on your promises and that you are a trustworthy company. On the other hand, companies that fail to gain the trust of a potential client are at a severe disadvantage and will be unable to create a successful relationship with a potential client.

Counteract Objections

Throughout any sales process, you will always face objections and obstacles that you must overcome. The common objections can range from lack of time, bad experiences, low priority, and lack of information. All of these objections can be countered to use to your advantage. Being prepared for each one and taking the time to create a well-thought response can be a big factor into a successful sales pitch. On the other hand, if you fail to prepare for any counter-objections, you have a much higher chance of failing to get through a gatekeeper.

Conclusion

As you can see, creating an IoT business can be a challenging but worthwhile process. Understanding the various techniques to communicate with a gatekeeper can be the difference between a successful and unsuccessful sales transaction. Providing value, creating trust, and overcoming objections are three key steps to success. Begin using these techniques today and start experiencing the many benefits of effective communication that will lead you to many new sales in the future.

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Strengthening Your IoT Marketing Efforts
Marketing & PR

Strengthen Your IoT Marketing Efforts with Three Effective Closing Strategies

IoT marketing endeavors are going to be more successful if the salespeople using them are informed regarding the best closing strategies. These strategies must be practiced and honed with relevant data. That in mind, three strategies that can help you attain more effective closing include:

  • The inoffensive/logical close
  • Self-convincing
  • Client-initiated closure

1. The Inoffensive/Logical Close

This is an IoT marketing technique which works best with clients that are near the “type A” personality— they push forward, they weigh the facts, and they make the most informed choices they can. What salespeople will do with this one is start by going over the conversation they’ve already had with the prospective client. They’re reading back the client’s order, basically. Since the sale hasn’t closed, after the client agrees that the salesperson has properly covered all needs, then they ask a few questions designed to logically demonstrate in the prospective client’s mind why going with the offered IoT services is the most sensible thing to do. Those questions are something like these:

  • “Do you think I understand your business and what you’re working toward?”
  • “Does the plan we’ve come up with seem like it’s going to fit in with your company’s goals?”
  • “Have you put together an equally effective alternative?”
  • “Should the demonstration we give live up to our conversation, would you like to enter into a partnership with us?”

The summation question comes off as suggestive without being forceful, allowing the client to make the decision themselves— and based in sound logic. For this to work, the salesperson must actually understand the business and the business’ aims, design an IoT plan that will meet those goals with the greatest effectiveness possible, and one that’s more effective than the majority of alternatives.

2. Self-Convincing with a “1 in 10” Scale

This one works more with potentially passive clients more likely to sit on a proposal for a long time and forget about it. Basically, the salesperson asks the client which ranking— on a scale of 1 to 10, 1 being “end the call” and 10 being “let’s sign now”— the client feels what the presentation deserves. This must be done at the end of the “pitch.” If the client says anything under a seven, something has gone wrong. Going forward in a “positive” way may not be possible and it could be time to end the call. But if the client says seven or higher, the next question should be something to the effect of: “So high! That’s a surprise. What makes you rate us that high?”

At this point, the client must go through, mentally, that which prompted them to give a 70%+ rating. They’re re-confirming their positive considerations about your IoT business. When they’re finished, the next question should be something like: “You do certainly sound more pleased than I expected, but why haven’t you given us a ten rating, then?”

At this point, the client can safely voice objections and your salesperson can match them as best as possible. Once that’s done, if the client is ready to close, then close them. But if the salesperson wasn’t able to talk them up to a 10/10 rating, the next strategy is to ask the client of the benefits of your IoT company outweighs the detriments. It’s important to establish prospective fallout beforehand. Do it right and you can get on to signing the contract.

3. Client-Initiated Closure: Perfect Performance

Design a technique for salespeople to use which helps them design a template that demonstrates numerical advantages for clients. Use averages among existing clientele to help design the template. Once familiar with it, the salespeople can cohesively demonstrate value and convenience to prospective clients. If they do well enough, the client will ask something like: “Where do I sign?” And that’s a perfect close.

Closing More Clients Through IoT Sales

IoT marketing should be well-informed with facts regarding the benefits of the Internet of Things. Those facts should be molded into a framework and then presented to varying clients in ways which fit their personality types and demeanor, as well as the businesses they represent. This kind of strategy will increase successful closure.

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Marketing & PR

In the Eyes of a Customer: IoT Marketing and Sales

Why do potential customers always seem to find salespeople so distasteful? Even if the product is rock solid and the service is skillful and honest, prospects still look at your employees as rogues and thieves looking to cheat them out of their money. IoT marketing offers further challenges when trying to get through to a customer. Using multiple channels for closing sales improves your chances of selling customers on new technologies.

Why Customers Make You the Enemy

Selling is a battle of wills. No matter what your company offers or how beneficial the product, the average prospect expects the worst. They believe salespeople only care about money. In their minds, your employees don’t care what they sell so long as they get their commission checks.

Your Internet of Things sales force must approach each customer as carefully as possible. The technology continues to develop. Many businesses don’t know or understand the details of these latest trends in connectivity, though. Considering that fact, they might look at your company with an even greater degree of distrust. To them, companies selling emergent technologies don’t care about the customer. Profit margins are the only things that matter.

Overcoming Challenges

Thankfully, a number of solutions exist when overcoming sales challenges. When in doubt, it pays to get another person involved. Find someone not specializing in sales. The prospect has spoken to a salesperson already. Let others use their expertise to build a different kind of rapport.

Contacting someone such as a CEO or VP of Sales lends more weight to the relationship. To a potential customer, these people represent the company as a whole. Their interests lie in making sure the entire company succeeds which can only happen by meeting customers’ needs. Those in senior positions don’t have anyone’s commission check in mind.

Prospective clients might not always distrust salespeople. They may avoid purchasing if they have an issue with features, too. In these instances, seek outside help from customer support staff or engineers. Let them reach out and explore what a customer needs. Providing additional information about products and services can help set a prospect’s mind at ease. Like everyone, they want to have all the facts before making any purchase.

Internal sales support can fail. At times, your sales staff need to reach out to prospects who didn’t choose your company. Take this opportunity to figure out why they chose to go a different route for their solutions. These answers can help you tailor your IoT marketing approach to customers in the future. They can also help you make sure that prospects become satisfied clients.

Building Trust

Salespeople may only utilize these techniques when a customer proves difficult to convince. Tapping into these resources builds business no matter how a potential sale goes. Reach out to people throughout your company when working with clients. If they decided to go with a unique or complex feature, have a customer specialist proactively offer assistance should they need it. Enlist higher-ups to write short emails thanking clients for their business. Customers want to know that your company appreciates them.

These tactics work especially well when the sale takes a team effort. You built the initial relationship with a customer. However, having others there who can help gives your new client peace of mind. They want to know that they can rely on your company regardless of who they talk to or what they need. These simple gestures build trust and rapport.

Conclusion

Sales teams specializing in new technologies face unique challenges. Prospects view these salespeople with suspicion and distrust. Effective IoT marketing makes the process easier. Your company should always provide as much information to clients as possible. Doing removes the stereotype of the commission-driven salesperson. It also shows potential clients that you want to make sure they get the right products and services.

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Internet Of Things

Proven Customer Retention Tactics for Your IoT Business

Enhancing customer retention is a crucial topic for IoT business owners. The focus of Internet of Things enterprises should be customer loyalty. Loyal customers have higher retention rates, spend more for services, and recommend others to your business. Therefore, it’s important to monitor customer service and make an effort to improve your customer loyalty programs.

Monitor Customer Satisfaction

Customer feedback is one of the best tools for determining your customer loyalty performance and for guiding your improvement campaign. A popular feedback system is customer surveys. These surveys should feature satisfaction measurements, intentions for repurchasing, and intentions of giving referrals. The data from customer surveys shows the leading indicators of your customers’ future behavior regarding your IoT company.

Customer Data from Surveys

When developing your customer surveys, consider the following metrics. These metrics provide the most accurate information regarding customer purchasing retention and referral intentions.

Are customers satisfied? – When you ask about customer satisfaction, it is a universal query about all your products and services. It’s a question that all your customers understand and can answer easily.

What are customer’s expectations? – Whether your customers are satisfied or not strongly relates to their expectations. The answers to this question help you determine how your customers perceive the quality of your services and what quality they expect.

Do customers feel they got what they paid for? – The replies you get from this question let you know how your customers perceive the value of your product. Do they believe they received what they were promised? These perceptions of the value of your services depend on the cost of the service, customers’ individual preferences and the personality of your customers.

Will customers refer others to your business? – When customers recommend your IoT business to others, you know they’re satisfied with what you offer. Word-of-mouth referrals are a good gauge of customer retention.

Do customers plan to purchase again? – This is the ultimate question for customer retention. If they do plan to purchase again, then you know you’re satisfying your customers. If not, then it lets you know that you need to do more about customer satisfaction and service. Although not all customers who say they intend to repurchase actually will, this question gives you a strong indication of their future purchasing behavior.

Building Lasting Customer Relationships

Analyzing data from customer surveys and working toward better customer service is only one piece of customer retention. Building trusting relationships with your customers is also necessary for customer loyalty. When you made the original sale, you went through a series of marketing strategies to develop trust and respect in your prospects. This must continue after the sale, in order to keep the customers, you worked so hard to get.

The following strategies can help you strengthen your bond with your customers:

  • Customer engagement – Continue communicating with your customers through updated newsletters, emails, blog posts, social media posts, and personal notes. Provide your customers with updated content that helps them with their concerns and educates them about your services. Make them feel that they made the right decision to choose your company for reaching their goals.
  • Customer loyalty programs – You can connect with your customers by creating customer loyalty programs that offer rewards to loyal customers. Creating personalized rewards, tailored to individual customers, makes them feel important and that you recognize their needs. With IoT technology, interacting with customers on a personal basis is easier than ever before. Develop customized loyalty programs for use with electronic devices that offer one-on-one communication with your customers.
  • Rise above the competition – Separate your business from your competitors by being genuine. Your honesty and personal response to your customers is more effective than making promises you can’t keep. Transparency sets you apart from your competitors because your customers believe in you and your business.

You can make sure that your IoT business retains customers by analyzing customer metrics, following up on surveys, and communicating with your customers regularly. If you show your customers that you care about their goals and give them the services they expect, your customer retention will continue to grow.

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