This article is about IoT
3 Ways in Which IoT will Influence Marketing
By NIIT Editorial
Published on 18/03/2021
The internet of things has branched out into multiple divisions. Connecting billions of devices through the internet, the industry is responsible for producing massive amounts of data that can be materialized by marketers for better returns. Here are 4 ways in which the IoT industry is influencing digital marketing.
Once the entire spectrum of IoT devices is connected to the internet, and data vendors begin sharing the curated information with marketers, the latter can use it for targeted ads. Already, with the advent of smart voice assistants vendors like Amazon, Google, and Apple are accumulating massive amounts of personal info. Amazon even admitted that its speakers listen to your conversations 24/7 to respond to human commands instantly.
But that’s not it, smart refrigerators, wearables like glasses and smartwatches, and smart cars can all combine and paint a full picture of what consumer habits are. This can then be leveraged for real-time ads.
The demand generation, namely the millennials and Generation Z want everything instantly. Their entire mindset has developed into seeking immediate gratification. Continuing from the previous point, if data has the potential to connect the brand to the customer right at the opportune time, then that unlocks the chance to make an instant sale.
For instance, if the smart refrigerator could identify that the food stock is low on milk, it can broadcast the message to e-commerce stores who can among themselves bid for the lowest cost for delivering the same.
Acquiring data as such massive amounts will translate into fodder for machine learning algorithms. The more training such programs get on user data, the more precisely they will be able to judge the buying habits of the customer. Instead of selling raw, unstructured data, vendors like Amazon and Google will therefore extract the insights out of the cumulative information and use it for pitching the right products.
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