DigitalNews Today: The Marketing Power of The Internet of Things

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The Marketing Power of The Internet of Things

Wednesday, February 3, 2016

51% of marketing executives expect the Internet of Things—or "IoT"—"to revolutionize marketing by 2020. 
The Internet of Things (IoT) is projected to be the future of digital marketing with the capacity to revolutionize marketing. The Internet of Things (IoT) has over time become a trend that every smart and modern marketer and advertiser should watch and possibly embrace as early adopters. It presents opportunities for real-time consumer engagement and customer service and will inject new and improved ways to marketing, advertising and logistics approach. 

These smart, connected devices are ringing in a new, exciting era for marketing. IoT provides endless opportunities for marketers and advertisers to listen and respond to the needs of their audience based on behaviors. But, what does Internet of Things mean and what are the projected impacts to marketers? 

Marketo defines the Internet of Things (IoT) as “the interconnectivity of our digital devices that provides endless opportunities for brands to listen and respond to the needs of their customers – with the right message, at the right time, on the right device”. 

One thing that is certain is that the Internet of Things will impact customer experience, the amount of data gained through connected devices and analytics. In a consumer and marketing context, Big Data and (predictive) analytics are never far away. 

Marketing automation vendor Marketo released an infographic on the marketing power of the Internet of Things based on data from Economist Insights, Gartner, Salesforce and Verizon Enterprise.. The “subtitle” already says where that power – and impact – can, is and will be felt: connectivity for better customer interactivity (among others). 

According to the infographic 51% of the world’s top global marketers expect that IoT will revolutionize the marketing landscape by 2020. After looking at some consumer evolutions Marketo resumes the ways marketers will use IoT as follows: 

- Analyzing customer buying habit across the platforms customers use. 

- More and previously unobtainable data regarding the ways consumers interact with devices and products (the “connected devices” themselves). 

- Getting a better insight into the buying journey and in which stage of it the customer is. 

- Real-time interactions, POS notifications and of course targeted (and even fully contextual) ads. 

- The customer service field whereby issues can be quickly resolved.

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