By Michael Foster
It’s a quiet revolution that many marketers are ignoring: Connected devices are creating new opportunities to increase sales, and few are paying attention.
Just how significant the IoT world is can easily be forgotten. We’re now in a world where people are relying on cloud computing to store their most important and personal data. They’re controlling their living room thermostat from their smartphone. They’re telling their cars to give them directions to restaurants. They’re even talking to their washing machines.
And it isn’t just early adopters anymore. The cost of connected devices has come down rapidly, and cloud computing has become so ubiquitous that the two technologies have become interwoven in the lives of millions of Americans.
What does this mean for marketers? Most importantly, it means the data-driven marketing efforts of the past aren’t going to work as effectively anymore. Remember that marketing data is used to create statistical models that predict future behavior. But with IoT and the cloud, people’s behavior has fundamentally changed forever. We need new data to understand how people are, for instance, buying coffee for their smart coffee makers. We need new data to understand how computer-assisted directions services and delivery services are changing the restaurants people choose, the shops they go to and even the times when they hang out with friends and family.
Marketers who don’t recognize the importance of the new data sets created by our new technological landscape are going to find their ROIs declining quickly. It’s already happening.
So we need to collect new data and fast. We need to develop ways to learn from the new data that these devices are collecting, and we need to recognize how this data is available to us and how it relates to our own sales efforts.
At this year’s DMA &THEN, a session called “New Marketing Frontiers: IoT and the Cloud” will focus on exactly that. By looking at the most cutting-edge marketing innovations in the world of data-driven advertising technology, Vasanthi Chandra of Amazon Web Services, Subu Desaraju of MR/McCann Detroit and Dimitri Maex of Sentiance will how cloud computing, and data storage and management from IoT devices is pushing marketers into a new frontier. They’ll also discuss which IoT trends are reaching a massive scale – and which are flashes in the pan.
Join us at this year’s DMA &THEN to discuss all things IoT – before you miss the new frontier that will change everything about marketing.
This article is brought to you by &THEN, DMA’s annual event. Click here to join the leaders of the marketing community and explore how data transforms marketing in New Orleans, October 8-10. Save over $300 when you register online.