Many people make the mistake of thinking that the Internet Of Things (IoT) is restricted to their home voice assistants. Look around you, everywhere you see, there are smart devices that are changing our lives for the better. From your new connected automobile to your home’s state-of-the-art advanced security systems, IoT is helping us in multiple ways. In the next few years, data suggest that the number of IoT-enabled devices is likely to double!From a marketing standpoint, experts have tried to understand the ramifications of IoT in the industry. While some have been dismissive saying IoT cannot influence or determine the future of marketing, sales, and advertising, others feel that this new and exciting new technology holds immense potential. In this content piece, we are going to cover the following major sections-
Meaning and Definition of IoT
3 Major Areas of Digital Marketing IoT is going to impact the most
The Use of IoT by Digital Marketing Professionals
The Final Analysis
Internet of Things (IoT): Meaning and DefinitionTo put it very simply, an IoT is a physical device that is connected to sensors that can transmit data back and forth to data hubs and controls using network connectivity. In the last few years, there have been multiple devices and machines that have been made IoT-enabled. Some of the major ones are-
Lighting solutions in our homes and offices
Home Voice Assistants
Security Solutions and Software
Smart wear technologies (wearables)
Smartphones, Laptops, Tablets, and Desktops
Home Appliances- Coffee Machines, Washing Machines, Televisions, etc.
The rise of IoT does not only have an impact on bettering human lives by promoting convenience, it is expected to power an entire business ecosystem in the coming years. You can say that IoT is a learning program that conveys the health and status of an activity or a machine to both human beings as well as to other authorities. This is why a lot of research is not going into studying security levels in IoT devices and technologies. For businesses, this becomes extremely important and makes them engage with an IoT platform for the deployment of IoT-as-a-Service. 3 Major Areas of Digital Marketing IoT is going to impact the mostAccording to leading experts, IoT is acting as quite a disruptive force in the digital marketing ecosystem. This change requires digital marketing professionals and executives to study and analyze IoT solutions and draw ways of benefitting from the same.
The Interplay of Big Data in IoT and Digital Marketing-
Even before the advent of IoT, digital marketers were using sophisticated tools for gathering, evaluating, and processing data. With the advent of IoT, all these sources have multiplied by infinite numbers. Marketing professionals now have an abundance of data to play with. The more digital marketing can use IoT-generated data, the better will marketers be able to trace a consumer’s buying journey. This can prove to be invaluable in running landing page campaigns, using the right CTAs, and boosting paid advertising results.
The Expansion and Growth of Market Research-
When it comes to doing market research, digital marketing professionals already have their hands full. However, with the rise of IoT devices, market research is just going to get better. The key is to interlink information and then use the same for audience targeting. For example, for businesses that manufacture lighting solutions. If a smart bulb has gone bad, it can convey the same back to its manufacturer, who can then reach out to the customer and tell them to service the same or get a new one. This can be helpful for all brands.
An Insight into a Consumer’s Lifestyle better-
Imagine someone that has recently started using a Fitbit. The company regularly publishes blogs on how many people have started running. This can be a great insight for sports shoe brands and sportswear brands. They can use this insight to target the same set of customers. In the case of IoT, brands will be able to understand the real lifestyle and habits of customers. This will enable them to make a clearer pitch that will help in effective targeting. This can then be translated into actual sales and revenues for the brand leading to its growth. The Right Use of IoT by Digital Marketing Professionals One area where digital marketing treads dangerously on loose sand is in the area of privacy. We all know that some aspects of digital marketing can get intrusive. With IoT coming up and presenting an entirely new set of data and research on consumers, what does it mean for digital marketing?To be honest, as a digital marketing professional for the last decade, I have always valued the sense of security of everyone I have worked with. I have come across many customers that want to be fed with the latest discount coupons as well as the ones that are more than capable of registering a police complaint on receiving a spammy promotional email. While there is a quest to use the data and create as much of a personalized buying experience as possible, we need to ensure that it does not transgress into endangering someone’s security and privacy. To put it in simple words, this is the real challenge for marketing professionals- Ethical IoT Use!The Final AnalysisAsk any SEO expert what is one thing that they are working on at the moment and they will say it is Voice SEO. This is a small, yet significant example to show that the various functions of digital marketing are going to evolve as IoT starts permeating more and more. Like SEO, SMM is likely to see a drastic change as social platforms start heavily relying on AI, ML, and IoT to create better experiences for the audiences. We all knew that digital marketing as a field of activity is highly dynamic. With the advent and integration of IoT, things are just going to go to a whole new level. Professionals in the industry need to understand how this new tech works and use it to boost their performance.