By 2022, IoE to Become World Superpower Economy?!

If you’re like us, it’s hard to check your Twitter feed without some mention of the Internet of Things (IoT).  From tech journals to main stream media, everyone is talking about the seemingly inevitable march towards everything around us being connected.  Just eight years into the smartphone era, it’s hard to remember back to the time when you didn’t have turn-by-turn directions, social media or the latest game at your fingertips.  By 2025, it may be hard to remember when (gasp) your refrigerator didn’t know how to order milk before you ran out.

The Internet of Everything

And while all of this cool tech and data is the focus of much of the press, there’s an even bigger story brewing.  It’s about the broader Internet of Everything (IoE) which encompasses the IoT and then adds people and processes to the mix.  When you blend those things together, you get the IoE – and the real changes we’ll see daily both as consumers looking to simplify or enhance our lives and as businesses looking to optimize every aspect from customer interactions to operations.
We really like what we’re seeing from various people at Cisco these days in terms of the difference between the IoT and the IoE.  The IoT is mainly focused on devices that connect to the Internet and through it, to each other.  These interconnected devices can then coordinate all kinds of tasks automatically.  IoE on the other hand is even broader and creates the ecosystem that will allow the IoT to really catch on.

By 2022, IoE to Become World Superpower Economy?!

Remember the smartphone revolution (i.e. that period we’re in the midst of right now)?  Well get ready.  The IoE is going to be even bigger.  How big?  Experts across the industry are predicting numbers that are difficult to even comprehend.  If you ask Cisco, over the next 7 years, they’re predicting 200+ billion connected devices and $14.4 trillion in value created.  To put that in perspective, consider this. We’ll elect a new president next year.  If he/she wins a second term, before that person is out of office, the IoE will have created enough value to be considered the one of the largest economies in the world ($14.4 trillion is behind only the U.S. in 2014 GDP).  Let that sink in for a minute.  If the IoE was a country, today it would be relatively powerless.  In 7 years, it would be an economic powerhouse, rivaling many countries like France and the UK in terms of total production.

Leverage the IoE, Start Now

We see a lot of people focused on the Things, which are key to the overall picture.  But in your five year strategy, you need to be planning for the people and processes just as much.  The IoE has the power to fundamentally transform businesses, entire industries and even the entire world economy.  Our advice?  Take a progressive approach, start today and allow your company to use the momentum of the inevitable IoE to propel your business ahead faster than you ever thought possible.

Customer Loyalty: Diet & Exercise for Your Business

Many business owners think about loyalty marketing as a magic pill that they can simply sign up for, and it will take care of itself.

 

Don’t fall into that trap.  Nothing could be further from the truth.

 
Think about it in terms of something we all understand: diet pills.  If you’ve ever had a night where you couldn’t sleep, chances are you turned on the TV to find someone with way too much energy for your 3am brain to handle, shouting about an incredible diet pill that will change your life.  All you have to do, the over-caffeinated man screams, is take one pill a day, and you’ll be ship-shape in a few weeks.  We all know, if it sounds too good to be true, it probably is.  What that hype-man doesn’t want you to know, is that the only way to truly lose the weight and get in shape, is with diet and exercise.
 
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photo credit: aurelio.asiain
 
Where are we going with all this?  Well, Lantern is like a carefully crafted diet and exercise routine.  There is no magic pill for growing your business.  Many business owners fell into the trap of daily deals over the past few years – looking for that magic pill.  They ended up with a bunch of nasty side effects and many times worse off than they started.
 
Lantern is not a magic pill either.  Lantern is a carefully built set of tools along with a plan on how to use them, much like the work out machines built for weight loss in our analogy along with a diet and workout plan.
 
Follow the Simple Plan
Encourage your customers to join your loyalty program on Lantern and consistently remind them to use it until it becomes a habit for them.  Once they reach that stage, you’ll have created a customer for life and the simple rewards and tools will perpetuate them returning to your business over and over.
 
How Long Does It Take?
Well as you might expect, it doesn’t happen overnight.  In order to truly begin creating a pattern of loyalty using Lantern (or any other loyalty program for that matter), you need to consistently be telling every customer, every visit for at least 6 months.  You’ll want to use every method possible for spreading the word to your customers: at your business with signs & cards, through your employees telling customers, on your website, social media accounts and email template and any other way you can think of.  After the first 6 months, you can ratchet down the marketing of the program to 50% of your full efforts you used during the first 6 months.
 
If you truly want to grow your business in a sustainable, long-term way, Lantern is the easiest way to do that.  Don’t fall in the magic pill trap.  Make a commitment, do the work and grow your loyal customer base with Lantern.

KC Battle of the Brands – Round 1 – Vote for Lantern

KC Battle of the Brands – Round 1 – Vote for Lantern

Hi All!  The Battle begins today.  Thanks to you, Lantern made the top 64.  The Battle uses the NCAA Tournament format – 64 Brands in Round 1, 32 in Round 2, etc until only 1 remains as the winner.  Round 1 is live!  We’re up against a company with 300 employees (Lantern has 5), so we’re definitely the underdog.

We need your vote + any sharing you can do on social media.  Let’s Get Lit and help Lantern move into Round 2.

Vote Herehttp://www.kcsourcelink.com/kc-battle

Also, please vote for our friends at Snow & Co, Foo’s and FINDitKC!