Consumer-connected devices and why they matter to platform companies

Gaytri Khandelwal

Mar 5, 2024

As a smart devices enthusiast and an early adopter of new technologies, I am fascinated by how far we have come and can’t wait to see how these devices will further transform our lives and work. Have you ever wondered why Smart Devices, also known as Consumer-Connected Devices, i.e., Pixel Phone, Meta Quest Headset, and Alexa Voice Assistant, are so crucial for Google, Meta, Amazon, etc, even though these products might not significantly contribute to the revenue compared to the core businesses of these platform companies?

Consumer-connected devices, such as smart home assistants and wearables, have grown exponentially in recent years. These devices offer convenience, personalized experiences, and enhanced lifestyle management, making them indispensable for modern consumers. In today’s digital era, the emergence of consumer-connected devices has completely transformed our interaction with technology. For platform companies, these devices are not just a part of the technological landscape; as listed below, they play a vital role in shaping the future of how they drive consumer engagement, get user behavior insights, deliver services, and gain customer loyalty.

#1: Enhancing Customer Engagement

– Personalized Experience: Connected devices provide valuable data that enables platform companies to offer personalized services and recommendations, leading to enhancing the user experience.

– Constant Connectivity: These devices ensure that consumers stay connected to the platform, increasing engagement and loyalty.

– Feedback Loop: The continuous interaction with consumers through connected devices offers real-time feedback, allowing for quick improvements and adaptations

#2: Data-Driven Insights

– Rich Data Collection: Connected devices serve as a valuable source of consumer data, including usage patterns, preferences, and behavior.

– Predictive Analytics: By analyzing this data, platform companies can predict market trends and consumer needs, giving them a competitive advantage.

– Targeted Marketing: The insights gained from device data enable more effective and targeted marketing strategies.

#4: Enhancing Product Development

– User-Centric Design: Feedback and data from connected devices guide product development, ensuring that new offerings are tailored to consumer needs.

– Innovation: The insights gained can fuel innovation, leading to the development of cutting-edge technologies and features.

– Competitive Edge: Continuously evolving products based on consumer data help maintain a competitive edge in the market.

Conclusion:

Consumer-connected devices are more than just impressive technological advancements; they are a fundamental element for platform companies in their pursuit of providing exceptional services, gaining valuable insights, and staying relevant in a rapidly evolving digital world. By embracing these devices, platform companies can enhance customer engagement, drive innovation, and unlock new revenue growth and success opportunities.

If you are interested in discussing how consumer-connected devices can transform our world. Let’s connect and explore the potential of connected technology and upcoming trends.

Author

Gaytri oversees customer success within the Hyper-scaler/Platform sector. Her over 25 years of leadership experience spans sales, partnerships, customer success, engineering, and IT at fortune 100 product companies and consulting firms. As a technocrat, adept at driving CXO level business objectives, Gaytri has harnessed a broad range of technologies (I.e. cloud, IOT, data, AI/ML, Immersive, and sustainability) to orchestrate large-scale transformations. Beyond her corporate role, she has co-founded a mental health Startup, runs a Startup chapter, and sits on the board of a mental health non-profit.