IoT marketing is changing quite rapidly as tech improves and service providers learn more about their target audiences. A couple of trends have emerged that are especially important for those challenged with marketing services powered by the Internet of Things.
Here is a look at the top marketing trends every IoT enterprise should understand and employ to obtain a competitive advantage:
The Ever-Growing Importance of Purpose
IoT marketing trailblazers understand the importance of purpose. Industry leaders are hyper-focused on crafting marketing efforts with an actual purpose. If you can explain the purpose of the service in question in a clear and cogent manner through engaging marketing efforts, you will outperform the competition or at least gain market share. Furthermore, customers respond kindly to businesses that have a social purpose.
Implement a purpose-driven approach to marketing and it will not take long for the results to manifest in the form of what matters more than nearly anything else: an improved bottom line. If you are curious as to what sort of purpose customers are interested in, consider the overwhelming positive consumer response to the much-publicized profit-sharing offered by businesses like New Balance. People are becoming more interested in businesses focused on more than simply making money. Show your target audience your business has a heart and it really will pay dividends in the short and long-term. Purpose is especially important to those socially conscious millennials who favor compassionate capitalism.
Drive Engagement Through Participation
Customers are looking for ways to interact with companies online and offline. As an example, a customer outreach program through social media platforms like Facebook, Twitter, Instagram, and Pinterest will engage customers in unconventional yet important ways. So, do not assume traditional outbound advertising will still prove effective in the coming years. Zero in on ways to help customers participate and engage with your business and they will likely prove loyal in the years to come.
Chatbots Have a Role to Play
New marketing channels will continue to arise as technology changes. Surveys show the top marketing gurus spend about 33% of their marketing budget on channels they were unaware of a mere five years ago. This percentage will only continue to increase as tech evolves. Chatbots will play an important role in managing such channels. Myclever recently conducted a study on this subject and found nearly three-quarters of consumers favor chatbots over apps for engagement. Chatbots serve up valuable content, assistance, and answers to inquiries faster than most other methods. These bots can transmit all sorts of complex data from myriad sources to specific channels with incredible efficiency.
The Moral of the Story is to Keep an Open Mind
IoT marketing is as dynamic as it gets. Those willing to adjust to the technological improvements and changing customer behaviors will prevail. Continue to push the boundaries of IoT and your organization will engage that many more prospective and current customers, rake in the cash and emerge as a true industry trailblazer. Do not rest on your laurels! Remain open-minded, do not resist change and your organization will be at the forefront of marketing trends, sooner than you expect.