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19 January 2021

The Potential of IoT As A Marketing Tool

The Impact of IoT Technology on Marketing

"Marketing is not the art of finding clever ways to dispose of what you make. It is the art of creating genuine customer value."
Philip Kotler

In the near future, one of the technologies that will be important for marketing success is the "Internet of Things". The "Internet of Things" defines a network of physical objects embedded with sensors, software, and other technologies to connect to other devices, systems, and exchange data over the Internet.

Get Ready for a Transformation in Marketing

We will witness a significant transformation in the coming years. IoT devices and sensors are now an important factor in interacting with customers and collecting data. There will be more interaction between marketers and customers. Marketers need to take action to attract potential customers and have an appropriate approach to maintaining existing customer loyalty.

Since more "things" become connected, marketers will get more interactions with their customers. Customers also have a device to receive these messages from marketers, which will allow for a two-way interaction.

But marketers will have difficulty taking action and reacting based on customers' feedback and interactions. No matter how marketers interact with customers "in-store" or "on screen," they will be forced to interact with customers with the right messages and at the right time based on IoT (internet of things) technology.

New Marketing Trend

How marketers use the IoT strategy to operate a marketing orchestration platform where they can retrieve data from connected "things" and take advantage of this big data is becoming an important trend. With this new marketing trend, marketers will be able to carry out effective marketing activities that will meet the needs of customers and serve their purposes in the coming years.

With connected "things", it is predicted that customers can benefit from NPD (New Product Development). The use of data from customers, new processes and improving and developing new products are valuable for companies. In this case, marketers will not only produce new products that meet the needs of their customers, but they will also be able to reach potential customers more easily because they know what these customer needs are.

According to researches, 51% of the world's leading global marketers expect IoT to revolutionize the marketing environment. IoT has a tremendous impact on data volume and network traffic. It is becoming increasingly popular in the consumer context.
In addition to projecting an estimated 22 billion active IoT devices worldwide by 2025, IoT is expected to have an estimated annual economic impact of up to $11 trillion in different sectors by 2025.

IoT has significant potential for better customer engagement in marketing power. IoT devices offer endless opportunities for customers to respond to their needs at the right time, on the right device, and with the right message.