Nowadays in the Internet of People, many businesses rely on collecting big data on how users surf the web or share content in exchange of free applications such as social media, search engines or websites. Most business analysts state that people are the product and advertising is the income.
Consumers mainly pay for physical products like Cars, TVs, smoke detectors, etc… and these products are more and more connected devices to your smart phone or directly to the Internet. This connection enables the manufacturer to offer new features like real time traffic info for cars or online content for TVs.
Imagine you buy a new car that has embedded connectivity and your dealer ask you these questions: “Are you willing to share data from your car with the manufacturer? And what do you want in exchange?”
Well you can find a similar question Accenture Report, The Internet of Things: the Future of Consumer Adoption”
So many customers are willing to share their consumer habits in exchange of a free service or Feature.
If a connected product has an active connection to the Internet then the cost of collecting info on how your customers uses your product is just a few dollars (or euros) per year. Information on customer engagement with a product is something very new and very valuable. For example it helps the designer of the product to understand how the customers use the product and how to design the new version or new features.
So the Marketing potential for manufacturers of connected products is huge. The problem is not technology. The main concern should be how these companies build a relationship with their customers to be:
- Clearly stated: If you buy a product that collects info on your habits: you should be noticed and be aware of this.
- Accepted by the consumer: There should be mechanisms for the consumer to “opt-out” is this data exchange.
- Secure and Private: The manufacturer should provide ways to offer privacy through making data anonymous or control third party info exchange like brands, advertisers, friends and family.
- Fair: Most users will only accept this data collection if there is an incentive form them.
Brand Research and Analysis companies like Altimeter Group are already doing reports on how to craft a digital strategy and the possibilities of customer experience in IoT products. On their report you can find their recommended methodology to build your strategy:
Customer Engagement Analysis of connected products should be a priority of any Digital Strategy. Carriots IoT platform is already evolving to support this.
Brian joined Altair in 1999 and holds a Bachelor of Engineering degree in Mechanical Engineering from Lawrence Technological University.
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