Hello! My name is Timotheus, and today I am a guest writer for Dena’s website. Dena, my awesome friend, has invited me to write about this topic – 5 Major Impacts of Internet of Things to Your Business. I hope you enjoy this article. Let’s begin, shall we?
Whether you are a business owner or not, you might have heard of the Internet of Things (also known as IOT) more than once. The discussion of this topic has been circling the digital world for many years.
There are many businesses who anticipate the changes that can happen as this future of “machine to machine” communication becomes a reality. And this future is very near, but only a few realizes this.
What is the Internet of Things (also known as IOT)?
The Internet of Things as explained by Wikipedia is “the network of physical objects or ‘things’ embedded with electronics, software, sensors, and network connectivity, which enables these objects to collect and exchange data.”
Imagine a world where machines, gadgets, equipment talking to each other with the use of the web. This is a reality. As the technology provides faster internet speeds and better ways communication, the Internet of Things is inevitable.
What is an example of Internet of Things?
If you have used your mobile phone to track another person’s mobile, or have your smart watch to keep a record of your daily walk to your phone, then you are seeing the Internet of Things first hand. Another example can be, say for example, a smart home where you can switch on your air conditioner or thermostat using your smartphone.
The Internet of Things or IoT is no longer new even for common people, but there are many who are also unaware of it. For your business, however, it is a must to have a full grasp on what IoT is and how it can affect the market as well as the strategies that your business can use.
How will Internet of Things Impact Businesses?
This makes businesses on the edge of their seats. And why not? The growth and realization of the IoT can impact businesses in all aspects, especially on their digital marketing strategies.
In a study made by www.i-scoop.eu, it is believed that 51% of the world’s top marketers expects that the IoT will create drastic changes on the marketing landscape by the year 2020. These effects can sift businesses that are only surviving from businesses that are truly aware and taking action on the effects of IoT.
And if you are a business owner, why would you choose to “just survive” the competition when you can clearly get ahead by taking advantage of IoT?
In order for your business to get a head start on the competition in digital marketing even with the challenge of IoT, a business should know its major impacts. Like any change in the industry, businesses should be very aware of what IoT can bring in for the competition to become more interesting and challenging, especially in terms or digital marketing. From these impacts, businesses will be able to determine their next steps in improving and adjusting their digital marketing strategies.
What are the important changes that internet of things can do in favor to businesses?
1. IT GIVES A NEW MEANING TO DATA GATHERING
As companies create smarter products, the data gathered will be faster and more accurate than before. Whenever companies want to know a client’s feedback, all they have to do is gather real time reactions. This will be further enhanced as Internet of Things dominate even the littlest of items at homes and offices around the globe.
This gives opportunities for companies to thoroughly scrutinize and determine their next best moves in terms of their digital marketing strategies with the help of the real-time data they gather. And since it is gathered real-time, the data will have minimum to no trace of bias and outside influence that may affect the nature of the data gathered. Each feedback comes directly from consumers and can be sent instantly whenever and wherever they are.
2. ALLOWS BUSINESSES TO CREATE EFFECTIVE EMAILS
Because data is gathered efficiently, companies will be able to pinpoint which of their target markets prefer the type of product, feature or services they offer. This helps companies diversify their emails and not have a general email to send to consumers.
Most of the time when emails are sent, the contents are too general or are hardly relevant for some consumers. This can be handled most effectively with the help of data gathered through the Internet of Things.
Emails can then be sent to consumers with different preferences, making each email more engaging than before. It is a known fact that emails are mostly left unopened and sent to the spam or trash folders.
Having customized emails from data gathered through IoT will help companies boost the results of their email based campaigns. This may even result to higher click through rates and eventually, higher sale.
3. OPPORTUNITIES FROM CUSTOMER SERVICE
For consumers, frustration means not getting a decent customer service from companies when issues or queries arise in using a company’s product or service. This still holds true for almost all companies around the globe.
Sometimes the loopholes in the customer service strategies become very frustrating for both the company and the consumers and indefinitely affects how consumers “feel” about the company as a whole.
With the IoT, these feedbacks became easier to track and companies can create better solutions to any consumer query or issue. These feedback will also be a great way of assessing which of the company marketing campaigns affect the number of customers who eventually buy the product.
In digital marketing, making the strategy engaging can be achieved when the customers realizes that the campaign points out a significant issue or aspect in life that the product or service can fix. These issues can be pointed out blankly by the consumers themselves when IoT dominates the world of internet.
4. CONVERSION OF CLICK THROUGH RESULTS TO BETTER STRATEGIES FOR BETTER ROI
The emails and the customer service efforts in digital marketing aims for higher percentage of click through. As IoT allows businesses to make smarter moves on their digital marketing campaigns which converts to higher percentage of click through. With higher click through means more percentage of people sharing about the company’s product of services.
And of course, the end result for these strategies aim for a higher percentage of sale and ROI. The IoT can lead to better assessment of the market, thus creating powerful and engaging digital marketing strategies that assures better click through rates. And as this click through rate increases, so does the possibility of generating sales.
5. COMPANIES WILL SIMPLY HAVE TO ADAPT
As the IoT starts to dominate the concepts and future plans of most companies, the reason not to include it in your business may not be the smartest move to make. Clearly, IoT will have more than the impacts stated above, and so adapting to this change will be inevitable. However, this is no reason for companies to create drastic changes.
The IoT has simply been here all the time; it is just now that businesses starts to really feel its presence strongly because of the smart products and services that are being produced. Expecting the changes and the impacts of IoT is not a complete waste on time. Anticipating these impacts and changes will enable your business to become more flexible and create better opportunities as the IoT will permit.
When facing these challenges of IoT, you can always find help for creating engaging and effective digital marketing strategies with digital marketing companies. These companies are determined to deal with these challenges that the Internet of Things may impose to your company.
These digital marketing companies are equipped with programs, strategies and applications that will help your company gain better view in IoT and adapt to the changes it can bring.
Alternatively, you can learn from a coach like Dena or me. I am a digital marketing expert with more than 23 years of digital marketing experience. You can learn more about digital marketing from me at my website (shown in the signature below).
Thank you for reading my article. I enjoyed sharing my knowledge on digital marketing topics such as this one – the 5 Major Impacts of Internet of Things to Your Business. If you have any questions, ANY at all, about Internet of Things or about digital marketing, feel free to ask by adding a comment below. I will be happy to help you.
Timotheus Lee
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