Generating real-time data, analyzing it, and then using the same data to create various business outcomes is the primary purpose of IoT. It also allows people to interact with each other and access data online. Digital Marketing Trends 2020: such as Chatbots, Artificial intelligence, Video marketing, and Social messaging apps are companies that increase revenue faster.
What is IoT?
A system or network that is linked with network connectivity, digital machines, sensors, and other essential electronics that allows them to transfer and collect data over a network is called the Internet of Things. The term IoT was invented by Kevin Ashton in 1999 to Proctor and Gamble a presentation.
There are millions of physical devices that are connected to the internet, sharing and collecting various data. As IoT is growing, there is an increase in the topic for communication both in the workplace and outside of it. The rule for the future is “Anything that can be hooked up will be hooked up”.
Impact of IoT on Digital Marketing
1. Big Data:
Big data generally refers to 3Vs that are Volume, Velocity, and Variety. Big Data Analytics comes up as a key to analyze data generated from IoT, which helps to take the initiative to improve decision making. Compared to traditional research, IoT devices can provide a massive amount of data with the help of sensors. Accurate insights help marketers to increase opportunities in business and reduce risk. Hence, it is mandatory to note that using consumer data must consider privacy concerns, which will only become stricter with time.
“Big Data means Bigger Marketing.”
2. Customer Lifestyle Information:
In this smart platform, with the help of smart devices, you can get a more in-depth insight into your customer’s requirements. The everyday lifestyle of your customers can be known using available tools based upon collected data. Wearable devices like smartwatches are an integral part of the daily lifestyle- from when they wake up in the morning until they go to bed. Accessing data on the lifestyle of the consumer means that they can see when and how specific services are utilized. It reduces waste and improves delivery services by making it less expensive.
3. Huge Change in Search Engine Optimization Industry:
The SEO industry is continuously growing to an estimate of $72 billion by 2018 and $79 billion by 2020. SEO is not only for searching but also improves user experience and usability of a website. Tools such as Woorank, SEMrush, and Google Keyword Planner are the best in the SEO industry. There is an infinite number of IoT devices available that has lead to a significant shift in the SEO industry. Hence, a human search engine can only benefit Search Engine Optimization professionals.
4. Real-time Reporting:
Real-time reporting for the internet of things is the Microsoft Cloud that provides a series of components that can be used for storing and analyzing support to your IoT solutions. When it comes to real-time communication of data as you collect it, you can respond to it in changing situation like never before. IoT generates a massive amount of data that can be analyzed using predictive modeling. APIs for communication and PubNub provide the infrastructure for any size IoT deployment.
5. Customer Support and Satisfaction:
In today’s digital world, customers are the blood of any organization, and the ability to engage them on multiple stages is essential. Communication between marketers and consumers is increasing with the help of connected devices of IoT. Predicting problems before the surface is done by sensors, with the help of monitoring equipment; customer satisfaction can be improved as it fixes the issue before it leads to downtime.
6. Product Development:
With the help of IoT, there is a raise in office efficiency, improvement in collaboration, appointing experts to interpret data are the ways product development has improved, through which the exact requirement of the customer is known that leads to product development. It not only helps to increase productivity but the quality and forecast the demand for new products.
7. Help in Personalization:
Personalization is the best way to engage your audience. Internet of Things allows you to collect a variety of information about your consumers, which will help marketers to connect with their audience on a real-time basis. IoT facilitates gathering data, and personalization offers the opportunity to utilize the collected information.
The future of the Internet of Things is unlimited due to the increase in technology and advanced devices such as smartphones with household machines. It can dramatically increase the available information to transform organizations and industries around the world.