This report demystifies the Internet of Things (IoT), provides an update on the current adoption of IoT and explains how organisations can use IoT in marketing.
It also explains the role of IoT as part of the trend towards ubiquitous computing and the opportunities that gives marketers to acquire data, develop products and services and add value to customers. Above all, it will provide a framework for approaching IoT as a marketing professional.
IoT comes as part of a number of major technology trends such as big data, cloud computing, wearables and blockchain. It opens up new possibilities, offering new interfaces and customer interactions. As part of these developments, IoT is set to transform not just marketing, but society at large.
As well as the opportunities, IoT also presents threats. There was a time when a company could quite tightly define its competitor set. With lowering technology costs and the ability to get products and services to market quickly, competition can come out of nowhere. IoT-enabled products are no exception and will open up new opportunities for companies to compete. All organisations now need an IoT strategy with an IoT marketing strategy to go alongside.
The report will:
- Help marketers establish an IoT point of view and opinion on how it might fit into their marketing plans.
- Provide an overall understanding of IoT and how it combines with other emerging technology trends.
- Make predictions on market size and the speed of adoption.
- Explore how and why IoT will transform the marketing of products and services and how it can be harnessed right now.
- Offer examples from different industries including retail, FMCG/CPG, financial services, utilities and telecommunications, travel, manufacturing and logistics, pharmaceutical and healthcare.
- Explain the breadth of opportunity afforded to brands, including revenues, brand extension, customer service and advertising.
- Discuss important considerations for designing a strategy.
- Propose a formula for IoT success.
Econsultancy would like to thank the following people for their contribution to this report:
- Niall Murphy and Andy Hobsbawm, Co-founders, EVRYTHNG
- Josh Valman, CEO, RPD International
- Tom Wood, Managing Partner, Foolproof
- David Simmons, CTO and General Manager, Ping Asset Ltd
- Hans Nasemann, VP Major Appliances Asia Pacific, Electrolux
- Gerd Leonhard, CEO, The Futures Agency
- Mirko Giacco Michelangelo, Director of Commercial Operations and Digital, Vodafone Hungary
- James Chandler, CMO, IAB UK
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