Internet Of Things For Marketers

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Internet of Things is described as embedded devices or things with internet connectivity, allowing them to interact with each other on a global scale. This level of connectivity is increasing the reliability, sustainability and efficiency of products and services by improved access to information. The increased choices given to consumer through IoT is giving them a lot of choices. This has enhanced the marketers activities to increase and retain business.

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Economists believe that IoT will make the biggest impact on marketing in the coming years. Marketers can use IoT to a good extent to reach their consumer. In a study in July 2015 by 2nd Watch, nearly six in 10 US IT and business executives said they leveraged machine data/the IoT for digital marketing. Digital Marketing can get bigger if we consider IoT as a tool. 

IoT has the capability to collect and analyze data which can be used by marketers and enable them to take appropriate actions. They can measure the actual behavior in real time and devise relevant customer relationship activities. Brand interactions can also be measured by understanding brand preferences, eye movement etc. This information can be utilised better than traditional buyer research, to improve the customer relationship and increasing their brand loyalty. By understanding consumer behavior, marketers can enhance the feel good factor of their brands and products.

Diminished defects, improved customer satisfaction and low costs can improve seller performance and buyer experience. With the help of IoT, marketers can track information about the consumers such as the credit history, loyalty and importance to company. By a good analysis different prices can be offered to different consumers. Using IoT, online content can be well adjusted according to consumer interest. IoT offers marketers the ability to interact with consumers of different segments at one marketplace and take better decisions. 

We can say that IoT has enhanced the exchange of sales data, smarter approach to CRM and enabled a smart way to interact with consumers. The marketers today have many opportunities to make their business processes better. IoT can make life easy for marketers if they know the means to utilise the data recieved.

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