The Internet of Things (IoT) is a technological innovation that is already shaping our lives.
There has been an explosion of IoT advancements in recent years. For example, we can now manage the temperature in our homes with smart thermostats. Additionally, you can track your caloric intake and daily steps with a fitness tracker. It’s noteworthy that devices are all around us, and IoT and big data promise to connect these devices to improve our lives.
By connecting our devices, we will be able to leverage shared data across various connections. Furthermore, with all of our devices sharing data points, we will be able to make our data more useful across all aspects of our lives—including how we run our businesses.
Here are the top three ways that IoT will impact the future of marketing for your business.
RELATED ARTICLE: ROBOTIC PROCESS AUTOMATION: YOUR BUSINESS’S NEXT STEP?
The goal of every marketer is to understand the personal preferences and real-time needs of their customers. With the advent of IoT marketers have a new tool to provide them with understanding of what their customers are looking for in the moment. They no longer need to rely solely on historical data to find trends and project future actions.
This type of insight will allow businesses to understand exactly where their customers are in the sales process. While current practices rely on looking at what a customer did to predict what they will do, IoT takes a giant leap forward. Because IoT technology will connect the instruments that clients use in their daily lives, it will present valuable information to marketers. This information will allow businesses to understand individual actions, needs, and expectations.
One example of a company using IoT technology to create a great user experience is Amazon’s patent for their potential buy-out of Whole Foods. In their stores, Amazon plans to implement technology that will interpret where people are in the store, and—based on their previous purchases—customers will receive updates on their smart devices about products they buy frequently and relevant items on sale.
As our devices become connected and communicate with each other, businesses will be able to provide greater customer value and seize more business opportunities. A seamless platform will allow marketers to overlay seemingly disconnected data onto other fields. This will allow them to integrate their products and services into the lives of their customers.
Extracting data from multiple sources is the best way to understand each customer on a personal level. Moreover, this type of interconnected data will help marketers build relevant marketing campaigns based on the behaviors and preferences of their clients. Ultimately, this will result in a more authentic and deeper engagement between a brand and their target audience.
However, as our devices become more connected IoT technology security is becoming a more prominent issue.
The future of technology integration into our daily lives is going to become more ubiquitous in the coming decades. Just as we see robust ecosystems in our search data on Google and Amazon.com, we will begin to see marketing applications beyond traditional devices and services.
The next wave of IoT and big data will be leveraged in self-driving cars. Since Americans spend almost two hours a day traveling to and from work, marketers will be able to engage their customers on a deep level once passengers are relieved of the tedious duties of driving. In its place, drivers will be able to be more productive and complete tasks during that drive. What’s more, marketers will be able to integrate their marketing messaging into future autonomous car technology.
The future of marketing is fast approaching. Of course you want your business and commercialization strategy to succeed. So you therefore need to plan how to leverage this emerging technology to increase your sales.
IoT is one of the most exciting developments to come along in a while. It will bring together technology, big data, and the personalized preferences of your customers. Moreover, this blending of technology and human interaction will allow marketers to use their marketing budgets more efficiently, develop more effective marketing campaigns, and increase the bottom line for their business.
Chris is a Digital Media Strategy consultant who helps small business owners grow their business. He is passionate about digital marketing, emerging technologies, and transportation issues.
The post IoT and Big Data Are Shaping the Future of Marketing appeared first on Business Opportunities.