The Internet of Things is one of the biggest innovations in the era of Industry 4.0. The term is coined to define the connection between different internet-enabled devices. Such devices transmit data using Wi-Fi signals, beacons, Bluetooth, and most importantly ‘The Cloud.’ As our world breaches the new horizons of technology, it will be interesting to see how it will affect digital marketing.
Simply put, “Can an Automatic Telling Machine running low on cash, send a message to the related bank via the internet to order more?”
Yes, it is possible, thanks to the Internet of Things. Currently, IoT technology is only seen in connected home devices such as thermostats, smart television, ovens, security systems, and kitchen appliances. But, the use of IoT will exponentially grow in the years to come. Currently, there are about 5 billion connected devices in the world, and soon within the next few years it will reach 50 billion, as assumed by the experts.
In marketing industry, the IoT technology will be used to track purchase funnel, raise customer awareness, locate target customers, customized targeting and much more. Marketers will be able to expand their vision, reach new clients and prospects, and understand consumer behavior, which will directly enhance the conversion rate.
How IoT Has Affected Business
With IoT, businesses will be able to collect a large volume of data from the consumers. The proper use of information will allow companies to mitigate operational cost, boost promotional campaigns, increase productivity, expand market reach, and design new products. Many companies across the world are capitalizing IoT offerings to improve the growth ratio.
On the other side, IoT devices are becoming an indispensable part of everyday life for individuals. Wearable devices, smart gadgets, and smart cars are few amongst many products that we use daily. Different devices are designed every day to gather consumer data, which will be later utilized by the marketers to understand consumer taste and behavior.
With the growing scope of IoT, marketers must understand the alterations that they have to encounter in the digital marketing landscape and how to prepare themselves for the changes.
IoT And Digital Marketing: Endless Possibilities
The primary role of the marketer is to stay ahead of the game, identify trends before they trend, and what will be the next demand of the consumers. IoT has already assisted marketers to gather and analyze data, extract information, and make predictions of consumer behavior.
And it’s not only marketers; customers want to be predictive too. The technology is most useful in the medical field for baby boomers and aging population.
And, if marketers aren’t ahead they might be losing a spectrum of possibilities. With tools like SEOclarity, SEMrush, and Google analytics, marketers can easily understand consumer behavior. We will also be able to predict when a customer will dine in a particular restaurant, attend an event, pull the car out of the garage, and shop at a specific retail store.
The marketing data generated by the IoT devices can be used to promote campaigns, target customers, and improve sales. When you know when your consumer is at a retailers shop, you can send them personalized ads based on their purchase history, distance, preference, and related purchases. Besides you can also mark special dates on Google Calendar to know the upcoming event to target your audiences.
The changes that IoT will bring will flourish the scope of marketing and take it to a new level. The faster IoT develops, the more important it will become for marketers to plan effective strategies and embrace change.