As Lewis Hamilton clinched the 4th race in succession at the Formula 1 in Hockenheim and I watched the drivers on the podium, one thought came to my mind: these guys are walking, talking billboards - I mean look at their uniforms, I guess you get the meaning.
Marketing is not so complex at its core. It’s about the process of winning the hearts of consumers and approaching them at the right time and place to ensure the desired result: conversion. Technology increasingly supports marketing and there are numerous more possibilities to consider every day.
For me, IoT is another interesting dimension which helps to personalize the engagement with the target user and at the same time adds to the overall data volumes, which, after analyzed, can provide striking new intelligence to improve the overall effectiveness of marketing efforts. Devices and chip enablement channels allow closer access to the consumer and the data they generate expose previously unknown behaviors and preferences. This stream of data from various sources is a treasure trove of information which has the potential to result in the "golden user profile" - priceless for a marketeer.
With IoT and advanced Analytics, marketeers can increase their engagement with the user in completely new methods. Here are two possibilities.
Coming back to the topic we started off with - Formula 1. Imagine the driver uniforms are made out of smart fabric. This implies that each and every one of the grids is IoT enabled and the marketing messages, which were static before, instantly become dynamic and can be managed in real time. The next time Lewis is in the lead in Hockenheim all the brands could bid in real time to ensure their campaigns are displayed on his uniform. During the course of the race, when Sebastian overtakes Lewis due to a brilliant braking maneuver, Pirelli could immediately run a campaign across all cars. The technology to realize this scenario already exists: smart fabric, F1 cars which are literally super computers, fast Internet, real-time analytics and real-time advertising. When do you think we’ll see this in Formula 1 - 2017?
We cohabitate increasingly with smart devices in our homes. Imagine our thermostat is not just automatically controlling the temperature at home but is also an intelligent device which can ensure we don't miss out on interesting energy conservation possibilities. The behavioral patterns it observes are shared with marketing service providers. When this is done, these providers can analyze if you are a person who is focused on energy conservation or efficient usage of energy. The next time a campaign is run by Trina Solar for private solar panels you could be targeted, or when Philipps is looking for a target segment to push energy efficient lighting, you could be part of the segment.