The Ultimate Reason why Digital Marketing is Indispensable for the IoT Sector.
The Internet of things, otherwise known as IoT, is a developing field that has about it the Midas’ touch.
By revolutionising the way information is collected from a universe of sources and presented, the IoT devices have not just largely benefitted us, but are also breaking new grounds through its operating methods.
The fact that it is the next big thing is understood, but let’s first understand what IoT devices do.
The internet of things, or IoT, is a system of interrelated computing devices, mechanical and digital machines, objects, animals or people that are provided with unique identifiers (UIDs) and the ability to transfer data over a network without requiring human-to-human or human-to-computer interaction. Wikipedia
In a nutshell, IoT devices are a system of networks, which includes any devices that have sensors, which in today’s world is a wide array of devices. The invaluable data that are collected through these devices is vastly in a raw form which generally tends to get overlooked.
IoT tech is created to handle this situation in the following manner:
• firstly by collecting this Big Data,
• followed by analysing the raw data,
• and then by processing it,
Therefore, providing the ultimate solution. The tech is ultimately revolutionary in a plethora of sectors, especially in the Industrial sector, with certain companies looking to penetrate the retail and manufacturing sectors as well.
Following the trends in the tech industry, it is a universal truth that IoT is significantly changing and affecting the way we function and operate in our day to day lives. With the world readily accepting tech upgrades that make life comfortable, the market for it has grown considerably.
People are realising that technological change is inevitable, and all major cities are on the threshold of entering a fourth major Industrial Revolution. The assimilation of tech and cyber tech into everyday lives have led to the development of smart homes and smart cities.
The internet of things (IoT) market can potentially reach a whopping 2 billion connections and unlock $11.1 billion of revenue by 2022 in India, and the country could emerge a $1 trillion digital economy by that timeline (Economic times)
The benefits and applications of tech have the ability to solve the problems of the whole world, but the company could fall into a gaping pit of remaining undiscovered.
The crucial factor regarding making it big in the industry lies, ultimately, in the strategic dissemination of information.
This could be understood and executed in multiple ways, but for the sake of convenience, we would like to club it under the umbrella term “Advertising”.
As previously explained, the demand for IoT devices in multiple industries and sectors is increasing by the day, owing to the huge benefits of IoT services. Simultaneously, the growth of IoT service providing start-ups has increased exponentially.
In 2014, India had only 126 IoT Startups and today the number of IoT startups in India has increased to 10X in the last four years, with 31% growth alone since last year (Indianweb2.com)
Currently, India has over 1,250 IoT startups, with many generating revenues globally. Bangalore houses the highest number of IoT startups in the country, with over 50 per cent of the companies based in the city. (ProfitfromIOT.com)
That is the staggering rate at which the industry has grown in a short period of time. The field has also received tremendous impetus through the increase in Start-up Incubators and the “Internet of Things Policy” drafted by the Department of Electronics and Information Technology (DEITy).
The need of the day, therefore, is setting up your brand image. In other words, to create a distinguishable Product Brand.
This needs to happen in two layers:
1. Among the other IoT Devices.
Within the multitude of IoT start-ups, each of them tends to have their own set of quirks and functions. This classification happens by defining what sets apart your “product” from the rest.
It could be classified through the field to which your product applies and the functions it caters, by defining the specifications. For e.g., whether it has industrial, healthcare, or infrastructural applications
2. Within your specific IoT field.
Within the field of which your product is situated, it is vital to define and highlight the “Brand”. This is where the information provided by you about the IoT device and your brand needs to be heard through the din.
For instance, what are the specifications of the product in the industrial sector?
This is where Digital Marketing steps in: It helps make your brand identity distinguishable in this cluttered environment.
The primary thing to know and remember about the IoT projects is the lack of proper information in the market.
As mentioned previously, the benefits of the field are innumerable; however, the IoT field in itself is at an emergent state.
From a marketer’s perspective, with regards to providing information, there is a vast area of topics that have to covered and clarified.
1. Product and Brand description.
Firstly, the information regarding the IoT device, and therefore, the Brand in itself. This is to largely highlight the functions and the applicability of the product from a consumer perspective as this largely affects the value proposition.
Consider this, from a large base of clients who might be interested in an IoT Project, only a few might know about the technical details. A couple of others might be knowledgeable about certain features, but not all the services.
The varying familiarity among the stakeholders and consumers calls for content to be provided and marketed in a very specific manner. In a nutshell, customising the information surrounding the project from a consumer or buyer perspective.
Not only is there a need for the information to be available, but also for them to be appealing. Especially if the primary need is marketing.
The right type of content published on various platforms can remove major hurdles along the path of brand development, while also ensuring that the way the content is presented is not intrusive.
2. Security concerns
One of the biggest reasons as to why buyers are still wary when it comes to IoT devices are the seeming security risks that it possesses; especially with regards to the information that is collected from the buyer or consumer.
There is an inherent fear of the business being jeopardized since private information might be accessed without consent.
Marketers can bridge this gap by clearly explaining the safety protocols and risks involved. Involving the possibility of risks while communicating with the consumer, when done right can help in establishing trust.
3. Establishing trust
At the end of the day, it's about how much your consumers trust you, i.e., the brand.
This can be established through the right type of marketing. The amount of information about the brand that is available on different platforms helps in bettering a consumer’s understanding of your product.
However, when and where this information is presented, and how it is presented, is extremely vital.
A social media presence at this moment in time is essential. The right kind of message on various social media platforms can get the brand name across. This also tremendously benefits the process of lead generation.
Apart from generating leads, it majorly helps to direct the right kind of traffic towards your website.
Through blogs, webinars, social media posts your potential clients receive a plethora of information regarding your product. However, the information needs to be curated accordingly.
The marketing trends have undergone major changes, especially with the advent of globalisation and the internet. The sheer amount of information that is available itself tends to form an unbreakable wall of clutter.
Breaking through this requires focus and attention on various marketing techniques and strategies.
This also requires expertise in the field or an acute understanding of the way various platforms work, along with the viewers or consumers expectations from each of these media platforms.