It’s no biggie that devices from the watches we wear to cars and refrigerators we use daily have evolved and are doing a lot more than what they were originally designed to do — thanks to the miracle that is IoT. By reducing human interventions and rendering our homes smarter, IoT is quickly becoming one of the phenomena to bring the future to the doorsteps of mankind.
IoT or the Internet of Things refers to the extended internet connectivity that includes everyday objects and how those objects interoperate with our daily lives. And though the rate at which these devices have made their way into our lives seems natural as it meets the consumer demands, savvy digital marketers have seen it as an opportunity to harness its power and adapt to industry-wide change.
But how exactly are they tapping into this technology?
Keep reading to find out.
1.Use of Big Data
Having IoT has made way to a wider range of information from various touch points. For a digital marketer, this is extremely helpful towards understanding the customer journey from start to finish. With the help of big data, the marketer is able to see where the customer is on their buying journey, and as a result of that they can generate more touch points for positive customer interaction. This increased access to customers gives marketers the chance to find new ways of communicating and creating meaningful connections early on at the buyer stage, rather than when a purchase is made.
Having said that, marketers should be mindful of data privacy laws and concerns about how customer data is being used. Data protection laws such as GDPR and CASL regulations have been put into effect and if you’re found guilty of misusing customer data, you could be charged a hefty fine of up to 20 million Euros or 4% of your annual income.
2.Impact on the SEO Industry
Beth Kotz had suggested that individuals specializing in SEO will experience a major shift in their industry and that search engines would strive to understand the users’ intent as opposed to honing in on a keyword. The advent of Apple’s Siri, Amazon’s Alexa and Google Home means that instead of web pages being ranked based on the inclusion of keywords, they will now be ranked on the basis of natural language used within the content; which is due to language being more humanized when speaking to AI as opposed to typing into the search bar.
3.Self-aware and Self-diagnosing Devices
Our phones and cars are not just self-aware, they are becoming self-diagnosing! If that sounds vague to you, let us paint you a clear picture.
This new feature will enable devices to know exactly when they need attention for maintenance. Before the failure of a product, manufacturers will be informed as well as the customers for an appointment to service. Refrigerators will know when your stock’s about to get over or if the stock’s wasting so that grocery orders can be made for restocking.
We’re inching closer and closer towards a time when AI-powered connected devices will dictate our actions on a daily basis. They will influence all your critical decisions and take control of almost all the sectors. That is how powerful the data can get.
4.Platform Independence
Utility products such as washing machines, air conditioners, refrigerators, coffee makers, etc will become controllable with smartphones, voice commands, web platforms, and smart wearables. This feature will apply to all those devices that have switches installed into them. Also, the platform will eventually get standardized, allowing manufacturers to develop smart products that can communicate across brands.
5.Enhanced Market Research
The other great news is that IoT will now make market research for digital marketers even bigger and better. The increasing rate at which IoT enabled devices will be used at home will give digital marketers access to more data to analyze. This surge in data will let marketers streamline their process and reach out to niche audiences in many different ways.
6.IoT Enabled Entertainment Systems
Users will now be able to stream music from any corner of their home; also, different music can be played from different rooms. And if that’s not all, the music systems will work with the lights and blinds to create the perfect mood for listeners.
7.A Better World with IoT
With the help of IoT, our homes will now be smart enough to optimize energy utilization. Occupancy sensors are now able to identify when there’s no human in the room and turn off the lights and AC; light intensity is also being monitored and controlled now.
8.IoT will Become more Secure
IoT can be made secure if all the networks connected to it are secured in the initial stages of designing the app by constant authentication and data verification. It is possible to maintain its security through proper coding, tested APIs and strong authentication. Soon, IoT will have an extensive impact on our daily lives hence experts are trying their best to install security into the apps so that security breaches do not happen.
Now let's take Look at the Statistics Below:-
- Ericcson is forecasting the number of cellular IoT connections is expected to reach 3.5B in 2023, increasing at a CAGR of 30%. (Forbes)
- IoT devices and services will reach an inflection point of 18% to 20% adoption in 2019.
- Worldwide technology spending on the Internet of Things to reach $1.2T in 2022, attaining a CAGR of 13.6% over the 2017-2022 forecast period.
- Bain predicts the combined markets of the Internet of Things will grow to about $520B in 2021, more than double the $235B spent in 2017.
Final Thoughts
IoT is increasingly influencing all of our lives but that doesn’t stop there. Companies in every sector are experiencing the transformative effects of IoT and it has paved the way for new business opportunities, more efficiency, cost-effectiveness, not to mention improving customer experience. Together with AI and machine learning, IoT is going to make business cases more fascinating in 2019 and beyond.