The IoT – The customer is always engaged.

Lately I’ve heard the term “Internet of Things” in conversations with friends from varying backgrounds including healthcare, high-speed rail, chemistry, engineering, technology, and social media.  It peaked my interest that people from such diverse backgrounds were all excited about the same idea. I conducted some research and came across an article on Forbes about “The Internet of Things/IoT”. From what I’ve learned I believe there are some pretty cool things we as marketers and consumers can look forward to stemming from developments in technology and the increased interconnectivity it will enable.

The IoT is the interconnectivity between things using wireless technology (each with its own unique identifiers) to connect objects, locations, animals or people to the internet, thus allowing for direct transmission of seamless sharing of data.  In essence the IoT refers to everyday devices that are able to automatically exchange information over a network.  It describes how the objects in our world will help us manage our environment, provide useful information and savings.  The IoT will also allow marketers to better tell their stories and connect with consumers. I found the idea of the IoT particularly interesting given that Eire’s client ComEd is working on a major initiative focused on improvements to the Smart Grid which powers the IoT.  The smart grid allows new technologies to tap into the grid such as smart homes and the smart devices.

The Forbes article focusses on how the IoT will also help improve marketing ROI in the future. The key takeaway for me is that as a marketer, the IoT will provide me with access to better tools to stay connected with consumers in real time. I believe we’ve evolved from “The customer is always right” to “The customer is always engaged” and the IoT will facilitate that engagement.

Forbes Article Highlights:

5 Ways the IoT Will Make Marketing Smarter

1. Easy Exchange of Sales Data: Smart devices can gather data and supply it back to brands in real time allowing business to create informed marketing strategies and improve ROI on future sales.

2. Smarter CRM – Instantaneous Customer Analysis: When used in conjunction with CRM tools IoT will be able to efficiently and accurately analyze data providing actionable results regarding a brand’s customer base.

3. Devices that know they are dying: The IoT will enable devices to perform self-diagnostics, self-maintenance and self-upgrades. This will ensure device issues are proactively addressed, that consumers have the latest upgrades and facilitate ordering new devices.

4. Predictive Social Media: The IoT will allow marketers to predict the development of social communities and target their efforts toward these communities. IoT devices when coupled with social media will allow marketers to identify and take advantage of new trends.

5. Imagine 100% CTR (Click through Rate): The age of interruptive commercial will end for consumers as advertising will evolve to be completely relevant.  The prospect consumer will be served relevant ads as brands will have detailed understanding of their consumer’s behaviors and needs via information provided by connected devices.  It provides brands the opportunity to stop being seen as marketers as start being valued as business resources.