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6 Predictions For The Convergence of IoT and Digital Marketing
6 Predictions For The Convergence of IoT and Digital Marketing
Marketing
blog.hubspot.com/marketing/6-predictions-for-the-convergence-of-iot-and-digital-marketing
The boom in IoT ( Internet of Things) technology will soon allow us to analyze, predict, and
respond to consumer behavior in almost every market possible.
For example, if you run out of milk or it spoils, a refrigerator connected to the internet could
recognize your need and display a message on its screen or your phone about the best
milk deals in town. You could even order a carton through one of those devices if the
refrigerator company partnered with a grocery store.
Since IoT technology connects the internet with objects that are ubiquitous in our daily
lives, marketers in almost every industry will be able to engage consumers throughout
every phase of the customer journey.
The term “Big Data” is an understatement for the amount of data IoT devices will produce .
According to the Ericsson Mobility Report, IoT devices and sensors will exceed mobile
phones as the largest category of connected devices in 2018 and generate a staggering
400 zettabytes of data per year.
IoT's surge will overjoy marketers because they can leverage these massive data sets to
integrate consumer behavioral signals into their marketing stack. This will allow them to
capture interactions, conversion metrics, and consumer behavior predictions and link them
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to purchase-intent data.
Access to this data is exciting, but it could also lead to confusion. Marketers might not
know how to interpret this unprecedented influx of information. Changes to the digital
marketing landscape are clearly on the horizon. So check out these six predictions of how
IoT will influence digital marketing's growth and evolution and how you can prepare for it.
For instance, we could use things like car and refrigerator monitors as possible touch
points. Amazon already leverages IoT with their Dash buttons, allowing consumers to order
a product with the push of a wifi-connected button.
Understanding a consumer’s behavior, purchase patterns, and location also provides a level
of attribution, analytics, and predictive capabilities that were previously unavailable. Based
on signals from IoT devices, we'll be able to push timely notifications to consumers when
they need to purchase something rather than waiting for them to show interest.
These insights and the ability to accurately attribute every interaction throughout the
customer journey will be groundbreaking.
3) Marketing technology platforms will treat IoT data like their first born.
Marketing platforms and technologies will be able to ingest and use IoT data similarly to
how cookies and unique IDs (UIDs) are used today. These platforms will also use IoT
signals to further evolve our current cross-device technologies.
Developing platforms and technologies capable of ingesting, analyzing, and acting on these
vast data sets will be a very complex undertaking. But evolution in digital marketing AI and
machine learning applications will produce marketing technology platforms that can
process, interpret, and evaluate these data sets in near real-time.
In other words, expect many new entrants in the marketing technology space to tackle this
challenge.
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The agency staff's skill set must adapt to the evolution of their role, though. They'll need to
develop an agile approach to managing campaigns, marketing initiatives, pricing, and
product development.
Keen understanding of the data packets IoT devices can produce will become
commonplace, as well as knowing what the actionable endpoints within a customer
journey are.
The possibilities for using a combination of these signals to provide highly relevant
messaging at the optimal moment are unlimited.
IoT could also provide marketers with the information to improve customer experience and
determine when they should send acquisition or retention marketing messages. One
example is using offline purchases coupled with proximity data from IoT devices in a brick
and mortar store to target recent purchasers with an upsell email or social campaigns
asking for product feedback to send to their peers.
The data created by the Internet of Things will unleash considerable digital marketing
potential. Predicting exactly how these changes will play out is not exact, but the evolution
is already underway.
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