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Everything CMO’s Need to Know About IoT

  • 28 July 2017
  • Nathan Kay

The Internet of Things (IoT) is changing how we live. Internet connectivity has enabled us to incorporate household appliances and everyday objects into our daily lives. The internet is constantly around us and almost everything we interact with is operated through this platform. The IoT revolution is also changing the marketing industry. Online marketing is being affected by this relatively new technological synergy, one that the industry is working hard to adapt to.

Marketing Must Cater to Convenience

According to Forbes, consumers always strive for convenience, and IoT takes convenience to the ultimate level. Consumers want everything on demand, instantly, immediately and tapping into this notion is proving successful.

“IoT increases consumer expectations of convenience, and if your marketing does not cater to that expectation, then customers won’t think your product is worth the effort. Marketing must react accordingly to both promise and deliver higher degrees of convenience,” Forbes writes.

Data Delight

IoT means there is an abundance of data. Computer generated statistics can learn more about the user, their timings, their likes, dislikes, and habits. The appliance or object can adapt to these traits and marketers can target these quirks when building advertising or marketing campaigns.

By 2020, analysts predict there will be more than 13 billion IoT connected devices globally. It’s huge! As more and more data is churned out the relationship between the consumer and marketing executive grows closer. The search for more relevant campaigns to increase customer engagement is a constant battle.

Refine Your Target Market

Marketing campaigns have been able to pinpoint specific demographics, males between the ages of 18-34 on Facebook, for example. However, IoT will allow you a more refined campaign that can target an ever smaller or bespoke audience, or tap into larger audiences in many ways according to variations gathered through data. IoT can even go as far as to predict solutions for individual users of products with bespoke responses. Experts say the technological progression in this field is endless and could lead to us living our lives dictated to by computers rather than through our own thought processes.

Wearables

According to Martech Advisor, wearables provide intimate real-time insights that are a more rounded and detailed answer to traditional research questions. Consumers crave personalized brand experiences and products that are truly bespoke to them. Wearables allow firms to map out a perfect experience for each individual user that can build a long-lasting relationship with the product and the brand.

Marketing IoT is the Next Big Thing

According to experts, marketing executives believe the significance of IoT will far outweigh big data, personalized transactions, mobile marketing and consumer experience. “If a consumer presses the same button five times on her coffee maker, gets no coffee, angrily tweets about the experience, and slams the door on her way out, IoT marketers can analyze that behavior, address the consumer’s dissatisfaction, order a replacement, and talk to product development,” Forbes writes. It’s an all-around dream, really!

Adopting IoT Into Your Marketing Strategy

According to Act-On, adopting IoT into your marketing strategy isn’t as easy as it sounds. The website has offered up four key areas to focus on when building it into your marketing campaign:

  1. Start by looking at interactions: Look at what point the customer interacts with your brand. If they interact through online channels or social media more, then focus on that area.
  2. Focus on problems: Focus on the largest problem customers experience, deal with it first then work your way down the checklist.
  3. Connecting the data points: Look at the interactions and problems, then fit IoT into that picture. Reading the data and acting accordingly is key.
  4. Measure the data: Collecting the data is easy. Interpreting what it says is the answer to everything. Marketing success is determined by being able to respond to data in an efficient and timely manner – your brand’s success depends on it!
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