November 17, 2014
The explosion of interest surrounding the Internet of Things presents a truly remarkable opportunity for marketing. The rise of internet-connected life, work and home is fueling growth and innovation across numerous industries--from communication services to manufacturing to healthcare.
What caused the advent of the Internet of Things?
A number of important technology changes have coincided to enable the rise of the Internet of Things, including cheap sensors, inexpensive bandwidth, cheap processing, smartphones, ever-present wireless coverage, big data, open-source technology, IPv6 (a change in addressing).
Growth of interest in IoT
The internet of things is more than refrigerators that remind us to order groceries or tell us the time. IoT products are more relevant, attractive, efficient, useful and smarter than their non-connected products. The internet of things creates data where there hasn't been before--helping companies build more interesting products and learn how they are being used in order to improve and iterate faster.
Adoption of IoT
[According to an IoT adoption survey]
Over half of the executives (62%) said they had already adopted IoT-based systems or had plans to do so. -- BI Intelligence survey of technology executives.
Better data will improve products--helping to build relevance with customers. Businesses will have greater insights into how their products are being used, and this will influence the design and product development process.
Strengthen customer relationships
Companies will have a deeper understanding of their customers, and this understanding will be more actionable than ever before. Actionable results regarding a consumer base will propel companies to build better and deeper relationships with their customers--helping to extend the longevity of these relationships.
Increased demand for innovative products
Internet connected products will spur demand for innovation across industries. Companies positioning themselves well for IoT will be at the forefront for this increased demand for innovative, smart and connected products and environments. What Apple did for the mobile phone will take place with other product categories, and companies realizing the demand for IoT innovation will gain tremendous favor with consumers and B2B buyers.
Smarter, more relevant advertising
Products will be internet connected. Constant network accessibility will transform the consumer, B2B buyer, the manufacturer and the marketer. Advertisers will be able to tap into the interests of buyers just as manufacturers will do and create more relevant experiences--helping to attract and convert potential buyers.
More companies will become tech/software companies
The internet of things will create more demand for software and the data produced by IoT and connected products. As more companies become tech or software focused new marketing or revenue opportunities will emerge.
Marketing for IoT can be smarter and more relevant.
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