Internet of things is making many aspects of our lives easier. Today, it’s evolving at the speed of light. Gartner reports that by 2020, the number of connected devices may exceed 21 billion. This fast-evolving trend has affected numerous types of businesses. The world is learning how to adapt to these technologies while extracting as much profit as possible.
Marketing is not an exception. Using IoT to improve marketing campaigns is something many companies are working on today. Internet of Things marketing strategies are stronger than any other efforts due to high connectivity benefits. Several IT support professionals have shed some light on how the Internet of Things is changing marketing strategies.
1. Need For Speed
Today, the customers are becoming busier and busier every second. They don’t have time to examine the exquisite and smart packaging, which used to be one of the major tools in product marketing.
By 2020, the speed of customer experience is expected to become more important than the price and packaging. It means that manufacturers and retailers have to be ready to use innovative technologies to bring the product to the customers when they need it the most. IoT can make it possible.
The new IoT options may include pointing the customer in the direction of the store where the much-needed product is available. Walgreens already has an app which offers a map of the store helping consumers find the products they need instead of useless wandering (which used to be part of the marketing strategy for many years).
2. Improving User Experience
An excellent user experience of today stems from the high speed of the offered services. IoT helps customers understand how products work without listening to or watching lengthy demos. Meanwhile, IoT helps collect the customer’s wishes and create an optimal route for getting to the things they need.
Do you want to get a pizza? The app will guide you to the nearest pizza place with the best reviews. Did you get a flat tire? Your smartphone will call for assistance without your help. Do you need to park? The app will show you where the nearest parking spot is. All these benefits can be available to the customers who are part of various companies’ rewards programs.
3. Gathering Data
IoT allows marketers to gather huge amounts of data about the customers and use it to lure them to the products. An app which offers free bonuses, such as providing coupons in a particular store or restaurant is also designed to collect information about the customer. Getting info in exchange for a deal is easier than ever with IoT.
Meanwhile, an app which is collecting the information, such as survey responses, can help store or restaurant owners quickly react to the customer demands and improve their experience on the spot. Artificial intelligence can provide extensive analysis of the available information for a faster reaction.
4. Watching The Market
IoT provides new opportunities, but it requires as much effort to keep up to date. A marketing department will need to add several people who will be responsible for closely watching the market in order to provide fast reactions to the changes.
In fact, companies may need to create a special watch department, which will work in tandem with the marketing department to catch the much-needed information before the competition does.
Internet of Things has already changed our approach to marketing. As it becomes all-encompassing, it will keep changing. The key to staying in business is a fast reaction to the new technologies.