According to the findings of several studies, the number of
devices in the Internet of Things (IoT) was doubled between 2014 and 2020. The
advent of digital technology has blurred the boundaries between online and
offline life. The shift to mobile devices has transformed how we interact with
the world around us – from wearable devices that track your fitness all day, to
the ability to watch your favourite show while commuting, to remote access to
electrical devices at home – all of these are now a part of our daily lives.
What is the Internet of Things?
The Internet of Things is the term used to describe any device that has a sensor or connection to the internet and has the ability to connect to other devices with similar capabilities. There is a seemingly endless range of devices that are a part of the IoT in the current market scenario. Some of them are:
- Headphones
- Smartphones
- Smartwatches and smart fitness bands
- Smart lighting
- Connected home appliances
- Connectivity enabled vehicles
- Digital home assistants like Alexa and Google Home
Research and analysis firm Gartner estimates that there were 26
Billion+ IoT connected devices in 2020. The use of such devices will change our
everyday lives and various applications of IoT will allow businesses to create
a cornucopia of disruptive business models. In this article, we will focus on
how IoT is currently disrupting the digital marketing landscape and how brands
can take advantage of this newfangled technology to transform their marketing
efforts.
Recent digital trends all point toward the potential of IoT technology to
transform the face of business and marketing intelligence as we know it. Big
data analytics and revolutionary digital technologies are paving the way for
new digital marketing strategies and technological introductions that can make
lives easier.
Moving into the information age, both the professional and personal use of IoT
technologies will advance significantly and become part of everyday life.
Lessons learned from technological developments of the past tell us that it is
difficult to predict exactly how intertwined our daily lives and technology
will be in the future. Nonetheless, it is crucial for digital marketers to take
an effort to understand how the Internet of Things operates today, the
accompanying risks, and how big data is changing the digital marketing
industry.
Devices on the IoT will generate unprecedented amounts of data, because of which our calculations of the impact of these devices will have to undergo a paradigm shift. Developers and companies should work to minimize the security risks involved with working with such a massive amount of data and its storage, tracking and analysis.
How IoT is Disrupting Digital Marketing
The introduction of IoT devices to a constantly increasing
number of arenas seems like a natural progression of the technology. The
prominence of these devices is transforming several industries and how they
operate; including the field of digital marketing.
So how is it doing this?
- Use of Big Data
The Internet of Things brings with it a wider range of information from an increased number of touchpoints. In terms of digital marketing, this data is invaluable in engendering a better understanding of the customer journey from start to finish and creating more and more personalized digital brand experiences.
- Enhanced Market Research
The prevalence of IoT-enabled devices in the home and production facilities will provide marketers with access to more data to be analyzed. This increase in data gathering will allow marketers to streamline their processes and reach more and more niche audiences in new ways.
- Minute Customer Lifestyle Information
The IoT doesn’t just access information shared publicly by a consumer on social media but also provides information about their everyday lifestyle. IoT enabled devices are integral parts of a consumer’s everyday lifestyle – collecting data from the moment when they wake up in the morning until they retire to bed at night. This almost comprehensive data of consumers’ lifestyles can be utilized effectively when formulating digital marketing strategies.
The main challenge facing digital marketers before they can harness the full potential of IoT is to secure the development of segmented, personalized and relevant experiences for customers without intruding on their privacy. Adequate cybersecurity steps must also be undertaken to ensure that customers’ crucial and private information is secure. It is vital to demonstrate high levels of security of consumer information to align your digital marketing strategies to the expectations of the consumer.
It is important for digital marketers to start preparing for the major changes that IoT will inevitably bring. It is imperative that digital marketers align their approach with the consumers’ lifestyles and use the developments in IoT as an opportunity to augment their digital marketing strategies.
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