In today’s business world, marketing strategies are increasingly challenging to come up with. Every business has its unique way of promoting itself, but this doesn’t mean that every strategy will work. To capitalize on the unique opportunities presented by wearables and other smart devices, IoT companies need to adopt innovative marketing strategies that will help them stand out in a crowded market.
Predict Customer Needs
IoT companies can leverage data from multiple sources to predict customer needs accurately. As we approach a time when IoT, wearables, smart homes, and smart cars converge into one general “smart life,” companies can use this data to offer personalized recommendations. For instance, Amazon can predict that a customer needs new running shoes because their Fitbit records the mileage they run every day. By predicting customer needs, IoT companies can offer tailored products and services, thereby increasing customer satisfaction and loyalty.
Use Analytics to Track Behavior
IoT companies can utilize analytics to track customer behavior using data from wearables and smart devices. By tracking the right metrics, companies can better target their marketing messages, personalize their offerings, and take customer relationships to the next level. The key is to use the data collected to customize your marketing messages and create a more compelling user experience.
Seamlessly Integrate Platforms and Devices
IoT companies can leverage platforms such as Amazon Echo and Google Home to seamlessly integrate and connect with multiple devices. By integrating data from multiple devices, companies can offer a more compelling user experience. For instance, a smart scale can pull data from Fitbit and Noom Coach to put your weight in context with your exercise and diet. By integrating platforms and devices, IoT companies can deliver a more personalized and engaging user experience, thereby increasing customer satisfaction and loyalty.
Establish Credibility in the Healthcare Industry
The healthcare industry offers a significant opportunity for IoT companies to establish credibility and capitalize on unique marketing opportunities. Wearables can monitor vitals and brainwaves, changing the game of clinical trials. By closely monitoring and reporting on data, IoT companies can increase credibility for emerging drug and technology marketing. As such, the healthcare industry presents a fertile ground for IoT companies to innovate and establish themselves as credible players within the industry.
Use Partnerships to Penetrate New Markets
Partnerships can help IoT companies penetrate new markets and reach new audiences. For instance, Apple’s recent event demonstrated how brand partnerships can help companies reach out to divergent markets. The Apple Watch is available in Nike and Hermes versions, each of which is essentially the same hardware with a unique design and, in Nike’s case, an app tailored to Nike’s market. By leveraging partnerships, IoT companies can magnify their abilities to reach out to new and diverse markets.
Use GPS Technology for Special Offers
Location-based marketing is a powerful way to attract customers. Marketers can capitalize on the location of their customers by partnering with specific retailers to receive data about when customers are in a particular area and whether their partners are having a clearance sale or special. By using GPS technology, IoT companies can offer customers unique experiences that are tailored to their location and preferences.
Tread Carefully with Privacy Concerns
Privacy and security concerns are major issues that IoT companies need to address when using wearable and smart device data for marketing purposes. Companies must ensure that they have clear opt-in features that are required to use wearable/smart device data for marketing. Once this has been addressed, the unique marketing opportunities presented are limitless and very personal.
Focus on the Future
IoT companies need to focus on the future when developing marketing strategies. Wearables and smart devices open up a world of possibilities for consumers around the world, and companies that own the vision of the future will also own the most valuable brand. By focusing on the future, IoT companies can create innovative products and services that meet the needs of consumers in the years to come.
Be Everywhere
IoT companies need to be everywhere by focusing on partnerships, sponsorships, and syndication. By partnering with other companies and syndicating content on multiple platforms, companies can increase their visibility and interact with customers across all channels. By being everywhere, IoT companies can leverage new marketing opportunities within smart devices and reach a broader audience.
Highlight Sustainability
Sustainability is a growing concern for consumers, and IoT companies can leverage this to their advantage. By marketing products that can grow and change with the user, companies can offer a sustainable solution that meets the needs of consumers. For instance, wearable technology that features changing colors or a phone that has removable and replaceable parts. By highlighting sustainability, IoT companies can attract environmentally conscious consumers and differentiate themselves from competitors.
In conclusion, IoT companies can leverage wearables and smart devices to create innovative marketing strategies that help them stand out in a crowded market. By predicting customer needs, tracking behavior, seamlessly integrating platforms and devices, establishing credibility in the healthcare industry, using partnerships to penetrate new markets, using GPS technology for special offers, treading carefully with privacy concerns, focusing on the future, being everywhere, and highlighting sustainability, IoT companies can create a personalized and engaging user experience that meets the needs of consumers in the years to come.
