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The Internet of Things, or IoT, involves more than just being able to control your home appliances with an app. This is part of it, as you may already know if you’ve used Google Nest or Hive from British Gas. Yet the future reality of this technology will be far more complex. This digital trend will involve the creation of new online ecosystems, with all of our physical objects and devices being able to communicate with one another.

For business owners, this presents a new world of finely tuned marketing opportunities. Here’s how it could work.

The future of interconnected devices

Already here today in many forms, the Internet of Things still has some growing to do. As it does, it will transform our daily lives in terms of work, play, and home life. IoT – Internet of Things from Nokia Networks and other developers is focused on the interconnectivity between everyday objects. With wireless technology, objects can communicate with one another and collect data in newer, smarter ways. This will create more intelligent, intuitive systems using live data. Refrigerators will be able to order milk automatically if a carton has gone off, and in the same way marketers will be able to track customer behaviour in new, more efficient ways. This will change the way you do business.

Analysing consumer behaviour

To begin with, the IoT will give you the ability to see how your consumers interact with your products and services. This is important to stay on top of disruptive technology and competitors. Connected devices can report back to you so you see specifically what works, what doesn’t, and what new patterns are emerging. This allows you to personalise your marketing efforts to each individual customer. It’s important to note that with the floods of new data that the IoT will enable, there will be a corresponding need for new analysis systems that can handle the volume. With this, you’ll gain insight into real time consumer behaviour.

A more personalised approach

With this new, unprecedented access to real-time data, you can then personalise the marketing approach that your business takes. You get to gather data continuously (learn this here now) and can use the wealth of insights to carry out your marketing operations effectively. . With IoT integration, you’ll be able to interact with consumers for a more satisfying overall transaction, whether it’s in-store or in initial product development. This helps benefit the consumer as well. They’ll be able to provide instant feedback about what works and what doesn’t. By scanning a product, they can learn more about its ingredients at a glance and gain access to the information they would personally find interesting.

Predictive online marketing

Digital marketing is already an important component of any business’s advertising plan. That is why several entrepreneurs happen to take the help of digital marketing services provided by reputed firms to increase their sales and customer base.
But with the personalized data from the IoT, social media and digital marketing efforts can also be personalized. Advertisements can be sent solely to customers that are likely to take action. You’ll benefit from a higher ROI because campaigns can be highly targeted based on the consumer’s past behaviour.

The bottom line

There were already an estimated 10 billion connected devices worldwide in 2015, and this will grow up to 75 billion connected units or more by 2020. The Internet of Things is growing, and it’s most likely here to stay. As a business owner, you’ll be able to use this to your advantage by learning more about why your customers behave the way they do. This information can be used to create more efficient, increasingly beneficial products and services. It will only deepen the B2C relationships, allowing brands to interact with consumers in a personalised manner.

Andy McGowan
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