Internet of things how to leverage for marketing
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IoT allows inanimate objects and devices to communicate over the internet, sharing data and notifying each other of events. This enables new forms of participative and predictive marketing. Current examples include using video analytics to track shoppers and RFID to identify products. In the future, more sensors could allow proactive health monitoring and automated shopping based on smart appliances and the home network. IoT is expected to significantly impact marketing strategies and drive over $8 trillion in global spending by 2020.
Internet of things how to leverage for marketing
- 1. Internet of Things (IoT) How to leverage for marketing?
- 2. IoT can help predict a person’s reaction
- 3. What is IoT? Billions of devices, sensors & chips that are able to communicate via the Internet makes up “The Internet of Things”
- 4. Inanimate objects are also connected to the internet Human & environment interactions driving webs of machine to machine (M2M) communication Intelligent devices communicating directly Sharing data Notifying each other of events
- 5. Marketing Evolution IoT enabled marketing – the next frontier in marketing World Cities Consumer Pollution Internet Smart Devices… Time Consumer Product Diversity Sustainability Social Network Social Media Marketing Values-Driven Marketing Customers-oriented Marketing Initial Marketing Industrial Revolution Cooperative Intelligence Participative Marketing
- 6. Opinions Values Experience s Expectative s Participative Marketing Evaluate Validate Share Participate Rate Internet of Things PRODUCTS Collective Intelligence SOCIAL MEDIA Identification Interaction Value Co-creation Prosumers ENABLERSFUNCTIONS Participative Marketing Integration of Social Media & IoT
- 7. IoT in Today’s World
- 8. Video content analytics provided by Kinect RFID helps identify products Motorized shopping cart offers the convenience of hands-free shopping Upload shopping list Cross off the items from the list as they are put in the cart Notify if the item is not on the list or is of wrong type Whole Foods Supermarket & Microsoft
- 9. Subway & O2 In UK, Subway teamed up with mobile network provider O2 to give special discounts to customers when they get close to a Subway outlet Push message sent to customers as they walk past or near a Subway store Push message contains a code that can be scanned in-store to receive discount
- 10. 20th Century Fox : X-Men First Class 20th Century Fox teamed up with UK based NFC mobile commerce company Proxama to display NFC enabled posters Posters offered exclusive video content & link to the movie’s Facebook page 20th Century Fox used the data to analyse poster locations & video views
- 11. IoT in Future
- 12. Video Content Analytics in Retail Ubiquity of CCTVs & security cameras All connected to the internet via a router Software & algorithms used to identify people & things of their interest
- 13. Shopping pattern and human traffic flow Product tracking Shopping pattern and behaviour tracking Face recognition Customer profiling & behaviour analysis
- 14. Highly specific marketing opportunity Enable marketers to offer personalised & targeted Advertisements Promotions Product bundles (Cross-sell & up-sell) Integration of physical & digital shopping trail Shopping pattern, behaviour, demographics, traffic flow & face emotions analysed Connected to internet, able to access digital shopping trail, interests, hobbies, lifestyle & other personal information Identify best spots for product placements and advertisements
- 15. A person gets sickToday
- 17. Take medicines to cure sicknessToday
- 18. Sensors in the human body monitor organ functions Future
- 20. Alert messages on devices before a person gets sick Future
- 21. Typical shopping experience Find the items on the shopping list Fill up the shopping cart Wait in line to bill
- 22. Future of shopping : Smart & Automated Shampoo bottle with sensor Smart refrigerator 1. The shopping list will be automatically prepared 2. The order can be placed automatically Pay online & get it delivered to home OR Place the order & pick it up from the store
- 23. There is expected to be 50 Billion connected devices by 2020 IOT could boost global corporate profits by 21% by 2022 - Cisco IOT spending to be $8.9 Trillion in 2020 - IDC