The other day, I was watching TV and a commercial for Amazon’s voice-activated home assistant “Alexa” came on. I’d bought an Alexa device last year so when the man in the Amazon commercial said “Alexa,” the device sitting on my kitchen counter immediately turned on as if I were about to ask it a question.
It freaked me out because it can be equated to two of my household devices, my TV and my Alexa, having a verbal conversation. However, what’s happening in tech is something more complex, yet simple in how seamlessly the internet of things is integrating into our everyday lives.
Forbes contributor Jacob Morgan defines this new technological capability as “If it has an on and off switch then chances are it can be a part of the IoT.”
A rudimentary example of IoT’s practicality for marketers is the Amazon Dash, introduced in 2015. Dash provides maximum convenience for ordering household staples online with the press of a button. The device is connected by Bluetooth to WiFi and has an adhesive on the back so it can be placed anywhere. A popular Dash is a Tide-branded button that sticks on a washing machine that orders a new bottle of detergent when you’re running low.
Since it’s linked to your Amazon Prime account, all shipping and payment details are taken care of, with the shipment arriving at your doorstep in just a few days.
Internet of Things use for Market Analysis
In 2013, the worldwide market for IoT solutions was $1.9 trillion, in 2020 it will be worth $7.1 trillion. While the number of IoT connected devices in 2015 was 2.9 billion, in 2020 there will be well over 13 billion. This includes wearable devices like the Apple Watch and even IoT-enabled fridges.
The opportunities this provides marketers to target prospects and leads are endless. That’s because more connectivity via smart products/social media > leads to more data (customer/product feedback > smarter data > more relevant campaign targeting > more customer engagement.
Ultimately, IoT gives marketers intimate insight into customer buying habits across multiple platforms and devices as well as how they interact with devices and products.
This is great news for those using cloud marketing platforms, like omnichannel digital marketing platform Maropost Marketing Cloud, which enhances the ability to target the right person, at the right time, on the right device.
IoT essentially further engrains marketing automation for a business using a cloud-based marketing platform to target on a sustainably hyper-targeted scale.
Next Generation of IoT
5G (a.k.a. 5th generation mobile networks and wireless systems) will provide a higher capacity and density of mobile broadband users. It also supports more device-to-device connectivity and significantly more reliable than the current 4G network.
5G is set to be unveiled at the 2018 PyeongChang Olympic Games where KT, South Korea’s largest telephone company, will showcase the next network’s capability and functionality with 360 VR views of the Games and a 5G autonomous bus.
Most importantly, 5G will reduce latency, which is the time interval between the stimulation and response in a network-connected device. This means the developed world will be effortlessly connected at all times to the Internet – further merging reality and digital.
A futuristic, but not entirely far-fetched concept film titled Hyper-Reality by British-Japanese Keiichi Matsuda, an independent design consultant and owner of a multidisciplinary design studio, presents a vision of the future where the physical and digital have become one in a kaleidoscopic augmented reality that envelops every aspect of our lives.
We already live in a society that is saturated with media on TV, online, and billboards. What Matsuda’s film highlights is a world where media is not blasted out blindly to the general public, but one where people are targeted individually based on location, personal preference, and social interactions.
Its ethics are questionable, but with the impending introduction of 5G, advancements in wearable technology, and ongoing advancements in big data – this could very well be our future.
Check out Marketo’s infographic “The Marketing Power of the Internet of Things” below to learn more: