Presented by…Vishal Singh,Reshma Chaurasia, &Akshay Agarwal.

What is Internet of Things

IoT is the interconnectivity between things using wireless communication technology (each with their own unique identifiers) to connect objects, locations, animals, or people to the internet, thus allowing for the direct transmission of and seamless sharing of data.

In essence, it refers to everyday devices that are able to automatically exchange information over a network.

IoT will have the enormous impact on the way we do business, specifically where marketing is concerned.

More “Things” are being Connected

Home Appliances, Daily Life Devices, Public Infrastructure, Health Care, Business Intelligent Systems…. …… and Much More.

People Connecting to Things

Motion sensorMotion sensor

Motion sensor

ECG sensor

Internet

Things Connecting to Things

Expectations

Opportunities

New Age Requirements to Use IoT

For Companies to take Advantage of Internet of Things, two things are Most Important –― IT Infrastructure, &― Data Analytics Capabilities.

Huge IT Infrastructure that could Analyze the Data in Real Time and send command to Consumer Devices.

Effect of IoT on Businesses

IoT will change the way the Business Environment works.

According to Analysts the new age Economy will be Consumer led because people will buy products in anticipation to Future Needs.

IoT will have a Huge Impact on –― Advertisement,― Customer Relation,― Business Analytics.

Advertisement

In future the Advertisements would be Automated and according Customer requirement and preference. Hence, the age of the interruptive commercial will finally come to an end.

Consider an Example –

“While coming back from Office your Smart Refrigerator send you an Update about shortage of Milk or Other Product, A

marketer’s Automated System can place an Automated Advertisement in between based on Your Location, Past

Purchase Record or even Your Diet Plan…”

Not only will the consumer save time by only being served relevant ads, but marketing will no longer waste thousands of dollars on irrelevant advertising.

Customer Relation

Because of Internet of Things there would be a lot of Data about the Customer. The break through is in analyzing this data and as well, providing actionable results regarding your consumer base.

Buyers’ purchase process is often long, IoT devices can streamline this process by helping you understand where your prospect is in their buying journey, resolving issues and serving them the right information that will nurture them to ultimately close a deal.

Also after purchase automated devices can take care of queries and complaint in a whole new way.

Business Analytics

Because of IoT most of Business Related Data such as Sale Record, Customer Profiling and Purchase Behavior will be available to Company instantaneously.

By having access to information regarding how, where, and why your products are being purchased and used, companies will be able to better tailor their marketing efforts towards specific clients.

Perhaps even more important, the customers will be able to provide useful feedback instantaneously. So, if a specific product isn’t living up to expectations, companies won’t have to wait very long at all to find out about it, that would result in Lower Losses.

Thank You………Queries Invited