Internet of Things is everywhere. If you take a look at CES2018 (Consumer Electronic Show), you can notice most of the devices they displayed featured IoT capabilities. The smart personal assistants like Google, Alexa and Bixby. Google Lens, Smart Cars, Driverless automobiles, Internet of Things security systems. You can see what is happening. They are literally everywhere.
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An example would greatly help and put things in perspective. Let’s say the warehouse stores the goods and they are to be dispatched on a particular date. You know that goods are safe because you saw them in a CCTV camera. However, what do you feel about keeping track of freshness of the goods until they are dispatched and using that information moderating the dispatch dates and shelf life of the products? This small thing can make profits beyond bounds. Another example would be a perfect life where you don’t have to worry about locking doors, parking a car, or even running out of fruits and vegetables. Because before you worry about them, IoT systems makes sure that you complete the tasks with gentle reminders on the way.
As a CMO you are required to know about a technology like Internet of Things. You need to research the market and see what fits best for your company. However, that task itself can be eliminated with the help of Internet of Things and other supporting technologies like Machine Learning or Big Data Analytics.
In today’s world is information is everything, marketing of any sort needs extensively researched information and data. To run an ad campaign or publicize your products you are required to understand your customers, know what they want and provide them at the right moment. When you give a married couple discount for kids’ products, just because they are married doesn’t really improve the situation. You are supposed to know whether they have kids and if they have kids, are they in mood to buy new products. How much are they willing to spend, if they are really trying to buy a product. This information will make you a better marketing person. When you know what your customers know you can serve them with customized offers which will definitely attract the crowd.
Internet of Things can be the next big thing that can happen to the marketing community. As a CMO, you have to be updated with the new technology like Internet of Things. Before you go and talk to your CEO, CTO and CFO, do your share of research on this particular technology, meet others who are using it and find out the benefits from them. Think about all the possible losses and worse case scenarios that can happen if you implement this in your marketing strategies. You are also obliged to think on Return of Investment from this kind of a technology. Once you are done with this extensive research you can meet with your partners and superiors and discuss the further steps.
One can’t stress enough about the importance of this technology in the modern world. We never really knew when it happened or how it happened. This beautiful piece of technology can work wonders and see to that the person using it is always comfortable. If you ask, that is the main priority of the Internet of Things, comfortable and productive lifestyle. When you apply this technology to your office scenario the input and output variables may change but ultimately you will feel the increase in productivity as well as revenue. Sure, making this work will take time and you also need to employ staff who knows the depths of this technology. All this will take some considerable amount of upfront investment. However, when you look at the long-term benefits for the entire marketing division, it is worth investing in.
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