Dive Brief:
- A survey from 2nd Watch says that more than half (59%) of U.S. IT and business executives are using machine data and the Internet of Things (IoT) for digital marketing purposes.
- Respondents use the data to better understand customer preferences (28%), power campaigns and promotions” (24%) and power digital apps (15%), or all of the above (32%).
- While many executives admit that their IoT efforts are just beginning, 43% say that they were successful in meeting goals for customer engagement and demand generation.
Dive Insight:
Use of machine-learned data and IoT information is taking off among U.S. marketers, with more than half at least getting started on using the information to better target and engage customers. Among those already using IoT, 27% say they have generated quantifiable ROI, and 43% say they have met their goals for customer engagement and demand generation.
IoT technologies can help retail marketers predict and satisfy customer demand through improved real-time inventory management and promotion. It is already powering marketing in stores and online, enhancing retargeting, loyalty initiatives, and more. IoT sales worldwide are expected to skyrocket from $660 billion in 2014 to $1.7 trillion by 2020, according to projections from International Data Corp.
