Internet of Things (IoT)
The idea of a connected world where objects can communicate via the internet with each other and with computers and smartphones, does seem to have endless and even overwhelming possibilities.
For businesses, IoT technology opens up the potential for smarter process and efficiency, more targeted marketing and better understanding of customers by utilizing data and digital insight. The opportunities are so vast, that for many companies, coming up with a clear strategy for how to implement this new technology is a huge step.
In the retail industry, recent research conducted by Forrester found that 96% of retail decision makers are hoping to make the necessary changes to adopt IoT technology in the near future but over half are concerned about integration challenges. And this is a big part of the issue – to really make sure they harness the potential of this new technology, customer focused businesses need to first consider a few key areas....
Marty Note
@Jeff Domanskyhits two key Internet of Things issues squarely:
* Securely and reliably connecting everything.
* Understanding how IoT tech means greater efficiency and a better post-purchase experience for customers.
At Curagami (http://www.Curagami.com) we see several important synergistic intersections including:
* Money becomes less and less important.
* Subscriptions become more and more important.
* The need to mashup, combine, filter and control the NOISE is going to be huge.
That last point is reinforced by life today. When apps make life easier they scale quickly (Uber) when they add to a noisy world they struggle. Adding to PAIN doesn't scale. Reducing pain in favor of getting more by doing less but getting more or having fun instead of digging ditches feels like a winning idea.
The future could become even more unreasonably noisy. Do we really need to know our fridge needs a new filter, our cat is almost out of food and our car is due for a tuneup? Finding a way to quiet the demand curve of IoT feels like a winner to us. What about you?
IoT and retail together? Who knew?
As the retail journey becomes increasingly mobile, there is an opportunity for retailers to adopt IoT technology to enhance the shopping experience. The marketing winners of the future will be those who embrace the Internet of Things for efficiencies and innovations we cannot yet see.
IoT and retail together? Who knew?
As the retail journey becomes increasingly mobile, there is an opportunity for retailers to adopt IoT technology to enhance the shopping experience. The marketing winners of the future will be those who embrace the Internet of Things for efficiencies and innovations we cannot yet see.
The possibilities for retail are virtually limitless. Developments in mobile technology, virtual and augmented reality, wearables, and more offer the ability to radically transform the retail experience. We've come up with 4 concepts for enhanced retail experiences. Visit http://clearbridgemobile.com/the-future-of-retailing/ to learn more!