The Internet of Things

The Internet of Things | Point

The Internet of Things

Insight

The Internet of Things is an extension of internet connectivity to physical objects and inanimate things. IoT bridges the gap between the physical world, as we know it, and the digital realm using independently connected technologies.

Why? To collect and exchange previously unobtainable data and to enable a new category of services aimed at improving the quality of life and productivity of individuals, society & enterprises.

“Right information at the right time and right place”

We have the data, but how do you truly be customer-centric and data-driven champions? Employ IoT.

  • Use data gathered through IoT to interact with customers on an individual basis.

  • Use Proximity Marketing for building brand recognition and shopper preference.

  • Use IoT generated data to monitor all touch points of the consumer buying journey.

  • Invest in platforms & connected technologies that are capable of ingesting, analysing, and acting on data sets collected by IoT.

  • Use IoT to determine when you should send acquisition or retention marketing messages to your customers

Using connected technologies

Marketers are already using IoT connected technologies to analyse customer buying habits across multiple digital platforms and to gather previously unobtainable data about how consumers interact with devices and products.

The focus going forward will be to:

The Internet of Things | Point
Gain deeper insights into the different touch points in the customers buying journey.
The Internet of Things | Point
Providing real-time point-of-sale notifications & targeted ads.
The Internet of Things | Point
Rapidly resolve issues in order to close sales and keep the customer happy.

From a digital perspective, the continuous developments in IoT connected technologies has awarded marketers the opportunity to extract consumer data from all stages & touch points of the omnichannel.

The outcome? A relationship between brand and customer that is based on facts, is relevant, and helpful.
The Internet of Things | Point

More connectivity (via smart products or social media)

The Internet of Things | Point

Leads to more data (customer or product feedback)

The Internet of Things | Point

Leads to smarter data

The Internet of Things | Point

Leads to more relevant campaigns

The Internet of Things | Point

Leads to more customer engagement

Unlocking the value of IoT

As a brand, here are some of the strategies you may want to consider unlocking in order to harness the true value of IoT:

1) Consider extensive research activities into the revenue and innovation potential of IoT
2) Focus on the product and/or customer life cycles
3) Target early deployment to maximise impact
4) Use data (data mash-ups) to build relationships
5) Maximise transparency to enhance consumer trust

How to keep up with the rapid growth & adoption of IoT

  • Accelerate product development to stay current, given the pace of technology innovations. Consider increasing Big Data capabilities and IoT enabled cloud computing implementations.

  • Look for new and different approaches to package your product/service offerings.

  • Act quickly to keep up with the competition and to contend with rapidly changing ecosystem dynamics. Ecosystem movements (start-ups, new players, acquisitions) mean that competition is coming from new quarters.

  • Cater to increasingly sophisticated customer needs because the modern customer is more; connected, tech-savvy, mobile and social.

The Internet of Things | Point
Point Forward
pointforward@pointgroup.biz

Point Forward is a thought leadership article intended to spark conversation and explore new ideas, technologies and trends in the world of marketing collateral. At Point, we actively encourage collaboration, problem-solving and reimagination because innovation is ingrained in our culture and mindset. There is always a better way to approach design, business, technology, and everything in-between, and Point is committed to finding it within ourselves, partners, suppliers and clients.