Over the last decade, technology has developed in leaps and bounds. Wearable technology is now a significant part of our lives with mobile apps and My Fitness Pal such as Fitbit and Apple Watch. But what impact does this have on consumers? And how can marketers make the most of this new trend?
The data collected by this wearable technology is called the ‘Internet of Things’ and is defined by Mckinsey as
“Linking machinery, equipment and other physical assets with networked sensors and actuators to capture data and manage performance, enabling machines to collaborate and even act on new information independently”
In simpler terms, the Internet of Things is a network of technology or objects that communicate with each other to collect and exchange data.
This provides a wealth of information to target their key messages and promotions to their customers. They are able gather this information through the connections made between technological objects. Examples of this include Fibits and wearable technology and smartphone applications.
For marketers this can not only help to distinguish messages but also to find out more intricate information about sales, promotions and customer feedback. Allowing for a much more fluid and interactive relationship between consumer and company.
As technology continues to rapidly advance, the Internet of Things has limitless potential. From anything to ‘smart’ refrigerators that can alert the user when products are going off, to roads and railways that can alert relevant authorities when maintenance is required.
How as a marketer can you make the most of the Internet of Things?