The Internet of Things (IoT) impacts a wide variety of industries and has a huge impact impact how much data flows across the Internet. Now in charge of an entirely new paradigm that creates valued relationships between consumers and brands, as it influences everything they make, sell and buy.
The Internet of Things can benefit both companies and consumers, as organizations can leverage it to gain better visibility and consumers can use it to become more empowered.
Key Benefits of IoT
IoT gives organizations access to how consumers interact with different devices. This allows for a more detailed analysis customer buying habits across multiple platforms, engage in real-time interactions with users, display highly targeted and relevant ads and provide deeper insights into consumers’ buying journeys.
Connected devices can provide multi-directional communication in a way that wasn’t possible before. Consumers can communicate with brands, brands communicate with objects, consumers communicate with objects and even objects can communicate with other objects. When it comes to marketing, IoT is very disruptive. Here are five ways it impacts marketing:
1. Big Data Reinvented
IoT gives businesses access to vast amounts of useful data about customers and their journeys. Smart devices generate big data giving marketers a much better understanding of the customer journey from start to finish. Marketers can now gain a clear understanding of which products are popular with which demographics and how consumers use these products.
IoT technology also allows marketers to see exactly where customers are in their buying journey. This allows for the creation of more targeted campaigns that increase sales and improve ROI. Customer interactions become more positive, as data is collected about how consumers respond to certain products and marketing campaigns.
Monitoring their satisfaction has become much easier thanks to the wealth of information that IoT can provide.
2. Higher Quality CRM
IoT can be integrated with customer relationship management (CRM) tools used by businesses across a variety of industries. Connected devices collect data from consumers, while high-quality CRM tools allow marketers to efficiently manage and analyze this data. This gives marketers more actionable insights about their customer base.
All of this results in the creation of new and very valuable information. IoT allows marketers to understand where potential buyers are in their decision-making journey. This data can be used to send them more relevant marketing material and resolve any issues that may cause them to hesitate to buy a particular product.
3. Self-Diagnosing Smart Devices
Today’s smart devices can be built with self-diagnostic capabilities that streamline maintenance processes and increase overall customer satisfaction. Conventional devices lack the ability to notify the user that something is wrong. Often, consumers only realize they are disabled when they stop working completely.
IoT devices with self-diagnostic capabilities can eliminate potential downtime by constantly running self-tests of their functions and components. If a problem is detected, they can send a message to their manufacturer, who will then contact the user to provide suggestions on how the problem can be fixed.
If they detect a problem that can’t be fixed and requires replacement of the entire device, the IoT device can order a replacement unit automatically.
4. Identify New Trends Easily
In order to stay competitive in a rapidly changing world, marketers need to be aware latest trends and developments in their industry. Because IoT devices are great at gathering data about what consumers do with them, new trends can be identified more easily.
For example, an IoT device can provide data about where it is being used, how, at what time, for what purpose, and by whom. If a new trend emerges that differs from previous information, marketers can immediately notice it and adjust their efforts accordingly.
5. More Relevant Ads
As more devices gain Internet connectivity, the ways of advertising will soon change dramatically for both consumers and marketers. Consumers often see advertising as distracting from their activities and rarely interest them. With the growing popularity of IoT, this is now changing.
Leads will now receive creatives that are much more aligned with their previous needs, behaviors, interests, and purchases. Entry sensor connected device can be of great help in making this happen. For example, if a smart light bulb detects that its useful life is nearing the end, it can notify consumers of this and even send out a promotional offer with a discount on a replacement.
Connected devices are now present in homes and businesses, changing the way businesses and consumers interact. IoT is changing the meaning of the marketer’s role and changing the way marketers collaborate.
Smart devices provide marketers with a wealth of useful information that they can use to create better campaigns, resulting in more sales and better overall consumer satisfaction with the products being promoted.
