IoT changes the game every day with innovations. Sales and marketing are part of that equation, integrating technology like never before.
IoT is a complicated thing to define, as you may know. It serves as a network that interconnects all things tech through the Internet. The devices involved can then send and receive data.
This transmission of information has the potential to become a significant part of business, meaning endless possibilities for integrations into everyday products.
Here are some ways that IoT has changed sales and marketing.
Today, any analog object can become technological. When a product can send or receive data, it’s part of IoT. For example, quick response (QR) codes build upon the idea of a barcode and take it a step further.
You may have noticed QR codes appearing more frequently, as they help companies improve consumer engagement and experience.
In one instance, Chili’s provided QR codes on their tables during a live soccer game. When customers scanned the code, they were able to play in their own augmented reality (AR) soccer game from their phones. A development like this could change the way restaurants advertise during events, how the AR industry promotes their abilities or how the events themselves sell merchandise. Businesses will start advertising these capabilities more as they become an attraction for customers.
Automation is already a standard for workplaces across the world, taking care of mindless, low-priority tasks and responsibilities. While already part of IoT, it can go a step further. As IoT continues to influence businesses, more will benefit from how automation can conduct processes that typically required staff. Automation can already monitor and send analytics for the company to use and learn from. IoT can then add new tech, like sensors, that track every detail and transmit information instantly.
For instance, a car with the latest IoT technology could monitor its functions and send data to the company regarding potential issues. This feature would cut down on dangers that occur while driving. Plus, this example can apply to other innovations as well. An IoT car, or any other product with the tech, will likely influence how companies market and sell it.
Data and Analytics
Similarly to automation, the data and analytics process can use IoT for improvements. Tracking data in real-time will help companies know which products they need to market and when. It can show them trends as they’re happening and how they can profit. Metrics forecast what’s to come and provide insight, and IoT technology can improve the way businesses use the information.
These real-time analytics include showing companies what existing customers need from current sales or services and what to expect in upcoming quarters. This data can help them decide what and how to advertise. It can also show which way the trends are moving, allowing them to bring in new customers on top of existing ones. This technology can improve upon things like call times in the sales department. Since IoT is taking over cold calling, employees can increase productivity as they focus on other tasks.
Depending on your marketing strategy, a personalized approach might be best for your business. With a tactic called geofencing, IoT technology can use the GPS in a smartphone to find nearby consumers. From there, it can send out personalized messages, coupons and more to those within close proximity.
Burger King successfully executed this geofencing technique. It launched a campaign called “Whopper for a Penny,” where they offered their famous Whopper for one cent from the app. The location element came into play with a discount popping up on consumers’ phones when they got within 600 feet of a McDonald’s. This example shows that IoT can drive companies to become more competitive and bring in sales.
How Sales Have Changed Through IoT
Sales have traditionally consisted of door-to-door marketing or cold calling, but IoT is changing it all. Through the examples above, the technology provides new methods and platforms for advertising and marketing, proving to be more effective than traditional means. The Internet of Things will soon become a feature that companies will advertise. As technology progresses at lightning speeds, everything will change for the better.