In this digital age, as devices become more and more interconnected, the possibility of using IoT or the Internet of Things in marketing multiplies. Tech developers are always working to create new ways to integrate IoT into everyday objects.
We believe this is a great opportunity for marketers to create effective stories around their brands and products to create meaningful connections with customers.
Smart devices have brought changes to the way marketers create content. The SEO landscape has also changed dramatically over the past few years. Search strings have become longer and voice commands are no longer a thing of the past.
Customers are increasingly using digital assistants to perform searches on their behalf. For example, customers no longer type “auto repair service in Delhi” while using the voice assistant. Instead, all the customer has to do is say, “Hey Google/Alexa, tell me the best auto repair services near me.”
Innovative product features require innovative marketing strategies and marketers need to fulfill this need.
Growing the Connected Devices ecosystem
Industry reports show that IoT will revolutionize marketing within a year. More than 50% of the top marketers worldwide predict that IoT will dramatically change the marketing landscape by 2022.
The IoT market size is expected to reach $650.5 billion by 2026, growing at a CAGR of 16.7% from 2021 to 2026. Data analytics will be essential for developers and marketers to evaluate and devise innovative marketing strategies that match customer behavior. Not only do IoT devices tell us more about customer behavior, but they also help open up an efficient communication channel for brands to get real-time feedback. I think it’s a very important tool for brands to use to improve and deliver the right products and services and provide relevant advertising. Thus, IoT is fundamentally changing marketing, and the wheels of change are already in motion. Needless to say, as the speed of trends and technology in customer behavior increases, rapidly evolving marketing strategies are imperative.
Brands will need to invest in technologies that take the customer experience to the next level. Personal technologies, such as wearables, smartphones and embedded smart assistants, will play a decisive role in how brands interact with customers.
How IoT is Evolving the Role of Marketing
As the capabilities of connected devices increase, so do the opportunities to integrate them into omnichannel marketing.
For example, data collected through the interaction of multiple devices can help brands deliver relevant messages and improve personalized experiences that delight customers. Connected devices are changing the role of marketing and brands and products are becoming channels.
The Internet of Things not only helps improve product quality but also helps forecast demand and plan new products. Accessing data from IoT devices will enable businesses to make better decisions faster.
The crucial role of data analytics also helps in understanding customer needs, purchasing habits, how trends affect those habits, and precise, a geographical locations allowing marketers to tailor their products accordingly.
I believe that IoT can provide more accurate data on customer preferences – a gift of IoT that has made marketing more dynamic and will continue to do so. Smart devices allow brands to “read” the minds of their customers. A huge amount of data is provided by smart devices, helping companies better understand their customers.
Customer Relation Management
The most important effect of IoT in marketing is the development of CRM (Customer Relationship Management). With powerful CRM software, marketers can collect customer data and uncover key insights about the customer journey.
With this information, businesses can modify their marketing campaigns and strategies. This data can help brands understand the different touchpoints across different devices to shape the customer experience and encourage customers to convert.