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Digital Strategies to Leverage IoT

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An brief overview of IoT, and some clear points around digital strategies to effectively leverage this technology.

Published in: Technology
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Digital Strategies to Leverage IoT

  1. 1. Digital Strategies to Leverage IoT Subbu Ramanathan Milwaukee, WI, USA International Conference on Digital Marketing Trichy, India February 2015
  2. 2. Internet of Things (IoT) Network connecting wired/wireless devices (things) which allow automatic provisioning, management and monitoring
  3. 3. An Example Electronic fork Alerts when eating too fast Eating pace data collected Data uploaded to online dashboard Data used to improve eating habits
  4. 4. IoT Significance for 2015 In Gartner’s Top 10 strategic technology trends IDC’s Top 10 technology predictions
  5. 5. The Projected Growth
  6. 6. Revenue Potential Cisco forecasts the economic value created by IoT to be $19 TRILLION in the year 2020
  7. 7. Digital Marketing Enablers Data from sources specific to target audience Better accuracy of needs assessment Real-time assessment of needs Predictive analytics
  8. 8. Digital Marketing Opportunities More devices to market through Better targeting of marketing efforts Advertising relevant & beneficial to customer Brand consolidation and cross-selling
  9. 9. Advertising Options If you want to play in this space as an advertiser, you’ll need to invest in one-off partnerships, or create your own connected device ecosystem
  10. 10. The Customer Experience Age of interruptive commercials come to an end Target marketing with IoT data can provide better customer experience
  11. 11. Beacons Low-cost hardware Small enough to attach to a wall or countertop Use battery-friendly, low- energy Bluetooth connections to transmit messages or prompts directly to a smartphone or tablet
  12. 12. Creating Your Own Ecosystem - Case Study London’s Regent Street - a big Beacon experiment Regent Street mobile app App captures users interests/preferences 80% of 130 stores have beacons Coupons, Campaigns & more 6% Click-Through Rate (CTR)
  13. 13. More Beacon Opportunities for Retailers
  14. 14. Partnership – Case Study AtYourService – an eCommerce and engagement offering that connects drivers with retailers and merchants on their drive
  15. 15. Partnership – Case Study Nest – Smart thermostats & smart smoke/CO detectors Products that can learn from data they collect Remote control/Remote notification “Works with Nest” Potential uses of data collected – Insurance companies
  16. 16. Creating Your Own Ecosystem – Case Study Nike Fuelband & Nike+ Since Fuelband launch, Nike+ signups have increased  TV & print advertising  digital marketing “Nike+ FuelBand” “@NikeFuel”
  17. 17. Creating Your Own Ecosystem – Case Study Daimler Trucks North America Sensors and software detect abnormalities in its trucks Automatic alerts to company’s call center that work is required Redirect drivers to local dealers stocked with replacement parts Predictive Maintenance
  18. 18. A Different Approach Think about customer value first Access to customer data depends on value provided in exchange Think about the data first  Think about actions based on the data, second Stop making ads  Design services that create consumer value
  19. 19. Considerations Honor privacy while providing personalization Few IoT standards Messy data for the foreseeable future Marketers will need partners to provide the connection, maintenance and innovation layers that they are not equipped to handle.

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