Point News Room – The Internet of Things – Bridge the Gap
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:
Gain deeper insights into the different touch points in the customers buying journey.
Providing real-time point-of-sale notifications & targeted ads.
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.
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.