Marketing with Big Data and IoT: never wasting potential
Marketers as data scientists
Many marketers are passionate about their field – getting the consumer to buy what they are selling is an undeniable thrill. But these days, the concept of marketing seems like a double-edged sword: are you catering to the consumer’s tastes or are you creating tastes that the consumer will respond to? Well, it’s all chicken and egg – one that can be left to the combined forces of cultural theory and economics. However, we’re interested in something that makes marketing even more personalized, effective, and far-reaching – we’re talking about the Internet of Things.
Marketing experts worth their salt are increasingly using big data with predictive analytics to get into the minds of their consumers, giving them targeted doses of their campaign instead of an intrusive and bombardment approach. Research is becoming paramount, and what can certainly solidify research?
The answer is a lot of data. Now, where will this data come from? The answer is – from the billions of devices that will transmit data, all powered by the Internet of Things. Consumer interactivity will be far from the charts when all this big data is systematically analyzed and processed. How businesses and individuals deal with this intense flow of traffic will make all the difference in the interconnected world.
51% of the world’s top marketers expect IoT to revolutionize the marketing landscape by 2020. After looking at some consumer shifts, marketers will use IoT changes to adapt them to the data-driven vision of marketing. In short, marketers are all set to become data scientists, and this article attempts to shed some light on this phenomenon.
Products become the source
While many big data companies and the like rely on collecting a lot of information from specialized secondary sources, which they had to pay for because few have the time to research every aspect, the IoT is quickly changing all of that.
Here everything is converted into IoT devices using sensors. Thus, there is a definite possibility that the products will become the source of the data themselves, thus eliminating the middleman. With the right processing capabilities, Big Data can indeed become a powerful tool.
The big data analytics market will soon exceed $ 200 billion. IDC expects big data technology and service-related revenue to grow with a five-year CAGR of 15.6% over the forecast period 2019-24. In addition to being the industry with the largest investment in big data and business analytics solutions, the banking industry will experience the fastest growth in spending.
But what are the different ways you can generate and innovate using this data? Let’s take a look at the help of some examples.
Truly innovative marketing
The IoT can give you an edge and really drive innovative marketing campaigns (at the risk of using the blatantly misused word to describe marketing and marketing). Your products can be used in powerful ways and can boast features that you never could have imagined possible if they were simply converted into objects for IoT.
Let’s say you come out with a special edition of Coke. An IoT device can transmit information to the internet – say, it updates your social media when you’re done with its content. While you still have to create the content, Brian Morris, a freelance writer currently working in a college essay writing service, says, “It’s more convenient to rely on IoT to support the content. that I created. By this I can focus on the most creative part of my job. ”Multiply this phenomenon a hundred thousand times, and you can see the potential of collecting data in this way immeasurably.
Fitbit is already doing this to drive their campaign – the Fitbit itself collects stats from the device and gives users the option to post them on social media. This informs the user’s friends about their activities, promotes Fitbit itself, and tells the world to think about the benefits of buying it; not too subliminally.
Amazon has already decided to use the IoT to its decisive advantage in this way – using their dashboard buttons. These buttons are product specific and allow products to be brought to market while replenishing consumables whenever needed with the push of an IoT-enabled button.
As you can already see, this all serves to create great opportunities and USPS for your product. Take something as paltry as a ceiling fan – that relic of the past, so easily archaic, but wait. Have you heard of Big Ass fans? That’s their name, I’m not kidding, but smart fans have sensors that measure speed, light, and temperatures. They are controlled remotely by an app and can be set according to user preferences. This makes the ordinary fan garnered such value!
Tesla has featured in our articles quite frequently and for good reason. Remember the car’s Wi-Fi update? Read about it here if you haven’t already, but updating a product’s setup over the air is hugely revolutionary. This gives Tesla an added edge when it comes to troubleshooting and releasing new features on the fly.
Authenticity and brand protection
The IoT is ideal for activating brand protection. Counterfeit cultures are all too real, and brands that struggle to differentiate themselves from their competition don’t need the added pressure of scams cutting off their share.
With an IoT-enabled product, you can showcase digital and exclusive authenticity. All the IoT solutions provider has is a branded protection solution that allows inspection teams to directly authenticate products and reuse real-time data created by consumer-product interactions to resolve protection issues. of the brand on an even larger scale.
When consumers interact with your product to access personalized marketing experiences, the same interaction data also verifies the authenticity of the product for your supply chain. For example, by scanning a smart tag on the label or packaging with their smartphone,
Real-time information on the location, time and usage of uniquely serialized and identified items generates rich data analytics and personalized alerts to help detect forgery, counterfeiting and parallel trade in products.
All of this in one package, and the possibilities are always limitless. It’s just a service that does that. Moreover, with smart packaging, your consumers will never achieve the finality in purchasing adulterated / contaminated products – this not only stimulates consumer decision making and reinforces your own brand image as strong and trustworthy.
The IoT also enables transparency. All the information is bare, there for the consumer to see so that they are not deceived. This again creates more confidence.
The IoT, finally, also enables innovative collaboration opportunities between brands that can synchronize their services into a single offering. Take the partnership of Uber and Spotify, for example, the two apps can now be connected and the Uber app can be used to listen to music while you comfortably take your taxi to your destination. This improves the customer experience and helps retain customers by locking them into their product ecosystem.