Decreasing Cost Means Increasing Capabilities for the IoT
The internet of things, while not a new trend in any regard, is expected to take massive leaps in 2019. Put simply, IoT refers to the connection of all things to a network or the internet, and we’re increasingly seeing its effects on our daily lives. From automobiles, appliances, health wearables, in-store shelving and more, the world is coming alive, and marketers are listening.
By utilizing data from IoT devices, marketers are able to easily record information and act on the needs and desires of their customers in real time. With regards to a consumer decision journey, companies that are able to act off of data from IoT devices are privy to more and more touch-points, allowing them to have a greater understanding of where an individual is within the buying journey and what are their lifestyle habits.
One innovative way that a CPG brand has been able to integrate IoT devices is through the Heineken Ignite bottles. When one bottle clinks with another, both light up and connect with each other. The bottles then track how much consumers move around with it, how quickly it’s being consumed, how many bottles are at a party, and much more. All this information gives Heineken an incredibly detailed picture of the social interaction between their consumers.
While integrating a smart device into a beer bottle may be an extreme use case (and very hard to scale) for IoT, it’s not far out of reach for the near future. Creating a smart device is only going to get cheaper as far as production goes and the increased ability to understand your customers while acting off that data makes it an even more intriguing path to go down.
Marketers that are looking to increase the data assets they have to act off of, enhance the end experience for their customers and innovate their brand from the bottom up should look to their current consumer journey to see where an IoT device could provide the most value. Data is still the oil that fuels digital marketing and those who set themselves up to act off the most relevant data sets, will be in a position to dominate their markets.