IoT Security
Article | July 17, 2023
Explore the events on IoT security, addressing to the complex cyber security challenges and privacy issues. It caters to a variety of attendees including industrialists, students and enthusiasts.
The significance of IoT security cannot be overstated in today's interconnected business landscape. Safeguarding sensitive data and mitigating risks is paramount, making robust IoT security a non-negotiable imperative for organizations seeking to thrive in the digital age.
From industry professionals seeking to expand their knowledge to builders and buyers in the market, these events provide a comprehensive platform to learn, connect, and discover the possibilities of scaling with IoT. Attendees can connect with buyers, sellers, and innovators, fostering meaningful connections and exploring potential business opportunities. At these industrial IoT conferences 2023 and beyond, attendees can immerse themselves in a vibrant atmosphere of innovation and collaboration.
1. IoT Tech Expo
September 26-27, 2023 | RAI (AMSTERDAM)
The IoT Tech Expo Europe is a prominent event that serves as a platform for exploring the latest innovations, solutions, and strategies in the field of IoT, digital twins, enterprise transformation, IoT security, and edge platforms. It promises two days of top-level content and thought leadership discussions. Industry experts, including keynote speakers and panelists, will share their unparalleled industry knowledge, real-life experiences, and insights through solo presentations, expert panel discussions, and in-depth fireside chats. Some of the key sessions will include panel discussions on staying on track with digital twins, examining their pitfalls across industries, and exploring the incorporation of other technologies like AI, ML, and Blockchain for agile processes. Notable speakers in this domain include Bruno Ávila, i-Team Director - Digital Urban Planning Lab, City of Amsterdam; Ben Lomax Thorpe, Head of Digital Twin, among others. Additionally, the event showcases success stories and case studies from organizations leading the way in digitalization and IoT implementation.
2. International Conference on the Internet of Things
November 7-10, 2023 | Nagoya (Japan)
This event brings together leading researchers, industry experts, and stakeholders in the IoT field. This conference serves as a platform for visionary and groundbreaking research, fostering innovation in various IoT verticals such as smart industry, smart cities, smart health, and smart environment. The 13th International Conference on the Internet of Things (IoT 2023) will include keynote speeches, research presentations, panel discussions, and interactive sessions. It will provide a platform for sharing visionary ideas, ground-breaking research findings, and innovative solutions in the realm of IoT and related fields. Nagoya, the host city for IoT 2023, will offer a captivating setting for the conference. With a focus on visionary research and innovation, the conference provides a platform for knowledge sharing, collaboration, and exploration of IoT advancements in various verticals.
3. 9th Annual IoT Security Foundation Conference
November 7, 2023 | IET (London)
The 9th Annual IoT Security Foundation Conference is a highly regarded event dedicated to IoT cybersecurity. With the increasing prominence of artificial intelligence in various industries, this year's conference will focus on the impact of AI on cybersecurity, exploring its implications for developers and cyber defenders at the forefront of the field. The call for presentations is currently open, inviting submissions on a wide range of IoT security-related themes till July 14th, 2023, with notifications of acceptance to be sent by August 18th, 2023. By participating in the IoTSF 2023 Conference, sponsors and exhibitors gain exposure within the IoT security community and can forge new customer relationships, generate leads, establish partnerships, and strengthen existing customer connections. The conference will cover a range of themes, including business, technical, operational, educational, and policy-related topics. Proposals are invited on these subjects, offering speakers an opportunity to contribute to the diverse interests of conference attendees.
4. ETSI IoT Conference 2023 (ETSI IoT Week 2023)
July 4-6, 2023 | Sophia Antipolis (France)
ETSI, the European Telecommunications Standards Institute, is organizing its annual flagship event, the ETSI IoT Conference. The conference, ' IoT Technologies for Green and Digital Transformation,' is a must-attend event for professionals involved in the Internet of Things, recognizing the significance of standard-enabled technologies for IoT service deployments. It provides a valuable platform for attendees to learn and share experiences related to IoT technologies, services, activities, and requirements, focusing on current and future standardization efforts. The 2023 edition of the conference will feature a combination of keynote speeches, presentations, interactive panels, and IoT demonstrations, creating ample networking opportunities for participants. The event will revolve around three main areas: IoT for the digital and green transformation, IoT technologies, and horizontal IoT standards for various vertical business sectors. The ETSI IoT Conference is particularly relevant for organizations and stakeholders interested in the service and operational aspects of IoT, including industry representatives, SMEs, research and development institutions, academia, decision and policy makers, as well as users of IoT standards such as cities, governments, and societal actors.
5. 4th International Conference on Big Data, Machine Learning and IoT (BMLI 2023)
August 26-27, 2023 | Dubai (UAE)
The 4th International Conference on Big Data, Machine Learning, and IoT serves as a major platform for presenting innovative ideas, developments, research projects, and approaches in the domains of big data, machine learning, and the internet of things. This event includes but is not limited to big data techniques, models, and algorithms; infrastructure and platforms for big data; search and mining in big data; security, privacy, and trust in big data. Authors are invited to submit original papers by July 01, 2023, through the conference's submission system. Additionally, selected outstanding papers will have the opportunity to be considered for publication in renowned journals such as the International Journal of Database Management Systems (IJDMS), the International Journal of Data Mining & Knowledge Management Process (IJDKP), and others. The event will provide an excellent opportunity for researchers, industry professionals, and practitioners to explore the latest advancements, share knowledge, and foster collaborations in the dynamic fields of big data, machine learning, and IoT.
6. 28th Australasian Conference on Information Security and Privacy (ACISP 2023)
July 5-7, 2023 | Brisbane (Australia)
The 28th Australasian Conference on Information Security and Privacy (ACISP 2023) is an event in the field of cybersecurity and privacy, bringing together researchers, practitioners, and industry experts from Australasia and around the world. This conference will serve as a platform to exchange innovative ideas, research findings, and advancements in information security and privacy. ACISP 2023 focuses on addressing the evolving challenges and emerging trends in the field, providing a forum for discussing theoretical and practical aspects of IoT security risks. Participants have the opportunity to present their research papers, engage in enlightening discussions, and network with professionals in the industry. The conference covers a wide range of topics related to information security and privacy, including cryptographic protocols and algorithms, security in emerging technologies, intrusion detection and prevention.
7. The Things Conference
September 21-22, 2023 | Amsterdam (Netherlands)
The Things Conference is dedicated to LoRaWAN, attracting thousands of professionals and enthusiasts worldwide. This highly anticipated gathering will serve as a hub for the entire LoRaWAN ecosystem, offering a unique opportunity to meet key players, gain valuable insights into the IoT industry, and explore the expanding LPWAN market. The event showcases a diverse range of LoRaWAN enabled security IoT devices and gateways at the Wall of Fame, where participants can interact with and experience first-hand the latest products from over 100 partners. The conference program features an impressive line-up of speakers from prominent companies such as Blues, Miromico, ELSYS, TagoIO, Edge Impulse, and more. Attendees can benefit from engaging keynotes, insightful workshops, interactive side sessions, case studies, and value-driven stories. These sessions cover various aspects of LoRaWAN, offering attendees valuable knowledge and practical guidance. One of the highlights of The Things Conference is The Things Certifications, which allow participants to showcase their expertise.
Final Thoughts
The conferences help industry experts, IT professionals, engineers, and decision-makers to gain insights and in-depth knowledge. Attendees can expect a comprehensive program consisting of keynote presentations, panel discussions, case studies, and interactive workshops. The above events will cover various topics, concerning the IoT security. Participating in these will provide networking opportunities, allowing attendees to connect with peers, share experiences, and establish valuable business connections. Leaders can stay updated with the evolving data center landscape and gain a competitive edge in their evolving technologies, to provide protection against threats.
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Industrial IoT, IoT Security
Article | July 12, 2023
Enhancing IoT security: Unveiling the significance of penetration testing in securing real-world IoT applications, identifying vulnerabilities, and mitigating risks for the protection of IoT data.
Contents
1. Introduction to IoT Application Security and Penetration Testing
1.1 Vulnerabilities of IoT application security
2. Fundamentals of IoT Penetration Testing
3. Considerations for IoT Penetration Testing
4. Methodologies and Approaches for IoT Penetration Testing
5. Takeaway
1. Introduction to IoT Application Security and Penetration Testing
Securing real-world IoT applications is paramount as the Internet of Things (IoT) permeates various aspects of any individuals lives. Penetration testing serves as a vital tool in identifying vulnerabilities and assessing the resilience of IoT systems against cyber threats. In this article, delve into the significance of penetration testing in securing IoT applications, exploring its role in identifying weaknesses, mitigating risks, and ensuring the integrity and confidentiality of IoT data.
1.1 Vulnerabilities of IoT application security
Expanded Attack Surface: The proliferation of IoT devices has dramatically expanded the attack surface, increasing the potential for security breach enterprise networks. With billions of interconnected devices, each presenting a potential vulnerability, the risk of unauthorized access, data breaches, and other security incidents is significantly heightened.
Risks: IoT devices often possess limited computational resources, making them susceptible to software and firmware vulnerabilities. Their resource-constrained nature can limit the implementation of robust security measures, leaving them exposed to potential attacks. Furthermore, a significant concern is the prevalence of default or weak credentials on these devices.
Diverse Threat Landscape: The threat landscape surrounding IoT devices is extensive and ever-evolving. It encompasses various attack vectors, including malware, botnets, DDoS attacks, physical tampering, and data privacy breaches. One notable example is the Mirai botnet, which compromised a vast number of IoT devices to launch large-scale DDoS attacks, leading to significant disruptions in internet services. In addition, IoT devices can serve as entry points for infiltrating larger networks and systems, allowing attackers to pivot and gain control over critical infrastructure.
Botnets: IoT devices can be infected with malware and become part of a botnet, which can be used for various malicious activities. Botnets are often utilized to launch distributed denial-of-service (DDoS) attacks, where a network of compromised devices overwhelms a target system with traffic, causing it to become inaccessible.
Ransomware: IoT devices are also vulnerable to ransomware attacks. Ransomware is malicious software that encrypts the data on a device and demands a ransom payment in exchange for the decryption key.
Data Breaches: IoT devices can be targeted to steal sensitive data, including personal identifiable information (PII) or financial data. Due to inadequate security measures, such as weak authentication or unencrypted data transmissions, attackers can exploit IoT devices as entry points to gain unauthorized access to networks and systems.
2. Fundamentals of IoT Penetration Testing
IoT penetration testing, also known as ethical hacking or security assessment, is a critical process for testing and identifying vulnerabilities and assessing the security posture of IoT devices, networks, and applications. It involves simulating real-world attacks to uncover weaknesses and provide insights for remediation.
IoT penetration testing involves identifying vulnerabilities, conducting targeted attacks, and evaluating the effectiveness of security controls in IoT systems. IoT pen-testing aims to proactively identify and address potential weaknesses that malicious actors could exploit. The methodology of IoT pen-testing typically follows a structured approach. It begins with attack surface mapping, which involves identifying all potential entry and exit points that an attacker could leverage within the IoT solution. This step is crucial for understanding the system's architecture and potential vulnerabilities. Pentesters spend considerable time gathering information, studying device documentation, analyzing communication protocols, and assessing the device's hardware and software components.
Once the attack surface is mapped, the following steps involve vulnerability identification and exploitation. This includes conducting security tests, exploiting vulnerabilities, and evaluating the system's resilience to attacks. The penetration testers simulate real-world attack scenarios to assess the device's ability to withstand threats. After exploitation, post-exploitation activities are performed to determine the extent of the compromise and evaluate the potential impact on the device and the overall IoT ecosystem. Finally, a detailed technical report summarizes the findings, vulnerabilities, and recommendations for improving the device's security.
3. Considerations for IoT Penetration Testing
Fuzzing and Protocol Reverse Engineering: Employ advanced techniques like fuzzing to identify vulnerabilities in communication protocols used by IoT devices. Fuzzing involves sending malformed or unexpected data to inputs and analyzing the system's response to uncover potential weaknesses.
Radio Frequency (RF) Analysis: Perform RF analysis to identify weaknesses in wireless communication between IoT devices. This includes analyzing RF signals, monitoring wireless communication protocols, and identifying potential vulnerabilities such as replay attacks or unauthorized signal interception.
Red Team Exercises: Conduct red team exercises to simulate real-world attack scenarios and evaluate the organization's detection and response capabilities. Red team exercises go beyond traditional penetration testing by emulating the actions and techniques of skilled attackers. This helps uncover any weaknesses in incident response, detection, and mitigation processes related to IoT security incidents.
Embedded System Analysis: Gain expertise in analyzing and reverse engineering embedded systems commonly found in IoT devices. This includes understanding microcontrollers, debugging interfaces, firmware extraction techniques, and analyzing the device's hardware architecture. Embedded system analysis helps identify low-level vulnerabilities and potential attack vectors.
Zero-Day Vulnerability Research: Engage in zero-day vulnerability research to identify previously unknown vulnerabilities in IoT devices and associated software. This requires advanced skills in vulnerability discovery, exploit development, and the ability to responsibly disclose vulnerabilities to vendors.
4. Methodologies and Approaches for IoT Penetration Testing
Mobile, Web and Cloud Application Testing
Mobile, web, and cloud application testing is integral to IoT penetration testing, focusing on assessing the security of applications that interact with IoT devices. This methodology involves various steps to evaluate the security of these applications across different platforms. For mobile applications, the methodology includes reviewing the binary code, conducting reverse engineering to understand the inner workings, and analyzing the file system structure. Sensitive information such as keys and certificates embedded within the mobile app are scrutinized for secure storage and handling. The assessment extends to examining the application's resistance to unauthorized modifications. In web applications, the testing covers common vulnerabilities like cross-site scripting (XSS), insecure direct object references (IDOR), and injection attacks. Application reversing techniques are employed to gain insights into the application's logic and potential vulnerabilities. Additionally, hardcoded API keys are identified and assessed for their security implications.
Firmware Penetration Testing
Firmware penetration testing is a crucial aspect of IoT security assessments, aiming to identify vulnerabilities within the firmware running on IoT devices. The methodology encompasses multiple steps to uncover weaknesses. The process begins with binary analysis, dissecting the firmware to understand its structure, functionality, and potential vulnerabilities. Reverse engineering techniques are applied to gain deeper insights into the firmware's inner workings, exposing potential weaknesses like hardcoded credentials or hidden functionality. The analysis extends to examining different file systems used in the firmware and evaluating their configurations and permissions. Sensitive keys, certificates, and cryptographic material embedded within the firmware are scrutinized for secure generation, storage, and utilization. Additionally, the resistance of the firmware to unauthorized modification is assessed, including integrity checks, secure boot mechanisms, and firmware update processes.
IoT Device Hardware Pentest
IoT device hardware penetration testing involves a systematic methodology to assess the security of IoT devices at the hardware level. This comprehensive approach aims to identify vulnerabilities and weaknesses that attackers could exploit. The methodology includes analyzing internal communication protocols like UART, I2C, and SPI to understand potential attack vectors. Open ports are examined to evaluate the security controls and risks associated with communication interfaces. The JTAG debugging interface is explored to gain low-level access and assess the device's resistance to unauthorized access. Extracting firmware from EEPROM or FLASH memory allows testers to analyze the code, configurations, and security controls. Physical tampering attempts are made to evaluate the effectiveness of the device's physical security measures.
5. Takeaway
Penetration testing is crucial in securing real-world IoT applications, enabling organizations to identify vulnerabilities and mitigate risks effectively. By conducting comprehensive and regular penetration tests, organizations can proactively identify and address security weaknesses, ensuring the integrity and confidentiality of IoT data. With the ever-growing threat landscape and increasing reliance on IoT technologies, penetration testing has become indispensable to safeguard IoT applications and protect against potential cyber-attacks.
Several key factors will shape the future of IoT penetration testing. First, the increasing complexity of IoT systems will require testing methodologies to adapt and assess intricate architectures, diverse protocols, and a wide range of devices. Second, there will be a greater emphasis on security by design, with penetration testing focusing on verifying secure coding practices, robust access controls, and secure communication protocols. Third, supply chain security will become crucial, necessitating penetration testing to assess the security measures implemented by vendors, third-party components, and firmware updates. Fourth, integrating IoT penetration testing with DevSecOps practices will ensure continuous monitoring and improvement of IoT system security. Lastly, as attackers become more sophisticated, future IoT penetration testing methodologies will need to keep pace with evolving IoT-specific attack techniques. By embracing these advancements, IoT penetration testing will play a vital role in ensuring the security and privacy of IoT deployments.
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Industrial IoT, IoT Security
Article | July 11, 2023
Discover the crucial role of big data capabilities in unlocking the potential of IoT for businesses. This article covers their synergy, challenges, and value in decision-making and revenue generation.
Contents
1 Why Big Data and IoT Matter for Businesses
2 Understanding Synergy of Big Data and IoT
2.1 How IoT generates Big Data
2.2 Challenges of Processing Big Data from IoT Devices
2.3 Importance of Big Data in IoT Applications
3 The Value of Big Data and IoT for Businesses
3.1 Improved Decision-making for Businesses
3.2 Generate New Revenue Streams
4 Final Thoughts
1. Why Big Data and IoT Matter for Businesses
The internet of things (IoT) is connecting all types of physical assets to the internet, from smart wearables that track wearer’s vitals to connected industrial units that can report any malfunctions automatically. Big data in IoT is a natural outcome with the growth of IoT devices, with an immense surge in the amount of data being generated.
There are currently over 13 billion connected IoT devices worldwide.
(Source – Techjury)
This data is extremely valuable to businesses as it can help streamline operations, predict trends, and diagnose device issues. Certain functions of IoT devices that are crucial for modern businesses, such as enabling predictive maintenance, depend on the analysis of the data generated every second. However, to maximize the ROI from their IoT ecosystem, businesses must first manage and process the vast amounts of unstructured data they produce. This is where big data capabilities come in.
2. Understanding Synergy of Big Data and IoT
Big data and the IoT are fundamentally different concepts, but are closely connected. Big data is a term that is used for a great amount of data that is characterized by volume, velocity, variety and veracity (or the ‘trustworthiness’ of data). The IoT is a term for physical devices or objects linked to the internet using an assortment of technologies. Understanding the synergy between these two technologies will be critical for businesses looking to leverage their full potential.
2.1 How IoT generates Big Data
IoT is one of the primary drivers of big data growth. The vast number of interconnected devices in the IoT ecosystem generates a massive amount of data every second. This data includes information on user behavior, device performance, and environmental conditions, among others.
The nature of this data makes it challenging to store, process, and analyze using traditional data management tools. This is where big data technologies such as Hadoop, Spark, and NoSQL databases come in, providing the ability to manage massive amounts of data in near-real-time, enabling critical applications of big data in IoT. For businesses, processing IoT data is synonymous with processing big data, due to the nature of the data generated by an IoT ecosystem.
2.2 Challenges of Processing Big Data from IoT Devices
IoT data processing is a complex and challenging task due to several reasons. Firstly, the sheer volume of data generated by these devices is enormous and is only increasing. This requires a robust infrastructure and specialized tools to store, manage, and analyze the data efficiently.
This data is also generally unstructured, heterogeneous, and complex, making it difficult to process using traditional data management and analysis techniques. Moreover, it is often noisy and may contain errors or outliers, which can impact the accuracy of data analysis. Businesses also face a challenge when securing such vast amounts of data. Since IoT devices collect sensitive information such as personal and financial data at scale, it is critical to ensure that data is encrypted, transmitted securely, and stored safely.
Additionally, IoT devices often operate in remote locations with limited connectivity, making it challenging to transmit data to the cloud for storage and analysis. As IoT devices continue to proliferate and generate increasingly large amounts of data, businesses must adopt big data technologies to gain actionable insights from this data.
2.3 Importance of Big Data in IoT Applications
There are several use cases of the IoT where processing large amounts of data is essential. It plays a critical role in IoT applications, providing businesses with valuable insights that can be used to optimize processes, reduce costs, and improve overall efficiency. By collecting and analyzing large amounts of data from IoT devices, businesses can gain a better understanding of customer behavior, machine performance, and other critical metrics.
For example, big data in IoT can be used to identify patterns in customer behavior, allowing businesses to tailor their marketing efforts and improve customer engagement. Additionally, IoT devices can be used to collect data on machine performance, allowing businesses to identify potential problems before they occur, minimize downtime, and optimize maintenance schedules. The value of big data in IoT applications lies in its ability to provide businesses with real-time insights that can be used to drive growth, reduce costs, and improve overall efficiency.
3. The Value of Big Data and IoT for Businesses
Businesses looking to integrate big data in IoT must first consider their data storage and analytics capabilities. By understanding the value of big data technology in capturing and analyzing IoT-generated data, businesses can unlock insights that can help them make better decisions, optimize processes, and create new business opportunities.
3.1 Improved Decision-making for Businesses
IoT and big data technologies offer businesses a wealth of data that can be used to make better-informed decisions. By integrating IoT sensors and devices with their operations, businesses can collect real-time data on customer behavior, operational performance, and market trends. This data can then be analyzed using big data analytics tools to generate valuable insights that can inform decision-making.
For example, operational data can be analyzed to identify inefficiencies and areas for optimization, helping businesses reduce costs and improve efficiency. With the right data storage and analytics capabilities, businesses can leverage the power of IoT and big data to gain a competitive advantage and make better-informed decisions that drive growth and success.
3.2 Generate New Revenue Streams
By leveraging the vast amount of data generated by IoT devices and analyzing it with big data analytics tools, businesses can gain insights into customer behavior, market trends, and operational performance. These insights can be used to create new revenue streams and business models, such as subscription-based services, pay-per-use models, and predictive maintenance services.
For example, IoT sensors can be used to collect data on equipment performance, allowing businesses to offer predictive maintenance services that help prevent equipment breakdowns and reduce downtime. Similarly, customer data can be analyzed to identify new revenue opportunities, such as personalized product recommendations and targeted advertising. With the right strategy and investment in IoT and big data technologies, businesses can unlock new revenue streams and create innovative business models that drive growth and success.
4. Final Thoughts
Big data in IoT is becoming increasingly important for businesses, and the future prospects are bright. As IoT continues to grow and generate more data, businesses that can effectively analyze it will gain a competitive advantage, leading to increased efficiency, reduced costs, and higher ROI. To fully realize the benefits of IoT, businesses must develop big data analytics and IoT devices in tandem, creating a feedback loop that drives continuous improvement and growth. By embracing these technologies, businesses can make data-driven decisions and unlock new insights that will help them thrive in the years ahead.
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Article | January 29, 2021
If you’re struggling with creating a value proposition in volatile markets, you’re not alone. According to Neil Patel, 40% of marketers struggle to acquire leads by traditional marketing methods. As competition grows in each industry, even fairly monopolistic markets like tech are seeing rising competition in all areas.
To combat market uncertainty, as well as stand out amongst your competitors, you need a market strategy that not only offers a direction but actively targets your goals. A market strategy is your go-to plan when things get rough and it is a map for when the waters are calm. Moreover, marketers with a documented strategy are 313% more likely to report success.
We’re sure you already have a market strategy that is just right for you. But have you considered if it can be refined further? Thanks to emerging technologies like IoT, we now have access to the most mundane customer decisions that are taken on a day-to-day basis. This data is your ticket to a better market strategy without having to spend a bomb.
This is how you can refine your market strategy with the help of IoT.
Data-driven Decisions
The Internet of Things has offered us insurmountable amounts of consumer data. A caffeine brand can now access information such as what time consumers have coffee, whether it is at home or office, what flavors they prefer, how much they’re willing to spend on coffee, and what other alternatives they consume. This kind of data, collected on an IoT device such as a coffee machine, is instrumental in making marketing decisions. If you know that your consumer prefers to have coffee at work in peace rather than in a rush at home, you can target offices in the area with your product rather than targeting individual consumers.
IoT offers you the right information to make the right decisions. But you can also leverage this data to drive your market strategy. In the above example, the marketing team can account for campaigns geared towards workplaces based on the available data in the budget. Data-driven strategies prove to be more effective than otherwise, and as marketers, you must absolutely leverage any IoT data that may be relevant.
Respect your Customers
While IoT offers marketers a truly astounding amount of data, not all users are aware of what data is being tracked. This raises concerns for privacy and security among the users. Even though most of the users waive their rights to withhold the information when signing into an app or wearables software, they are not always comfortable sharing certain data.
As marketers, it is important to keep your practices ethical and legal. Using consumer data may be completely legal, but it is best not to offend your customers by overt use of data that they aren’t comfortable sharing. Make sure that the usage of data in marketing campaigns and strategy is limited to what data has been consciously shared by your consumers. This will bolster your goodwill, as well as make your customers trust your brand.
Offer Valuable Solutions
With the advent of Big Data and AI technologies, the internet of things is turning over a new leaf. As there is a vast amount of data that can be processed fast with AI, marketers can now target individuals rather than households or groups. With precise data available over consumer decisions and actions, it is possible to know if there are any unlikely customers that you have been ignoring so far.
IoT allows you to not only target these customers but also solve their problems. If we continue the caffeine example, the connected coffee machine can tell you when the coffee is about to be over, this can send you reminders to buy coffee, or in case of further automation, place an order on Amazon on your behalf. These solutions can be now hyper-personalized to suit individual needs through IoT.
IoT Based Campaigns
Your market strategy will have to account for campaigns throughout the year, but if you’ve noticed closely, the only marketing campaigns that gain significant traction are the ones that have a ‘wow factor’. A lot of marketers mistake the wow factor to be a subjective preference that customers have but it couldn’t be further from the truth. The wow factor is simply the effect produced when a business goes above and beyond to meet customer needs. IoT offers us the resources required to manufacture the wow factor in every single campaign.
A great example of this phenomenon is beacon marketing. Beacon marketing is considerably new in the marketing industry and uses Bluetooth technology to transmit information to nearby mobile devices. It is heavily used in retail across the globe and giants like Target and Walmart are already using the technology to market its services. Walmart places beacons in its lights across its stores and sends offers to its customers based on their location. It not only personalizes the shopping experience, but also saves a large amount of electricity bill for its stores.
Target Existing Customers
Many times, in a bid to appease new customers, marketers often forget about their existing customers. Your existing customers already know you, have tried your product or service, and are clearly interested in the product. A good product or service is often enough to keep the customers returning, but with the current levels of competition, customers often find themselves wondering if they should try new things. As a marketer, all you need to do is deter your existing customers from straying. You can do this by either providing an unparalleled service, which is quite unlikely in today’s market, or you give them a reason to stay.
Thankfully, targeting existing customers is much easier than targeting new ones. You already have their data over their preferences and habits. If you know that a certain firm updates their applications every second quarter, you can send them offers just before the second quarter starts and remain fresh in their memories when they decide to make the decision.
Allergy medication Zyrtec leveraged IoT when targeting their existing customers with a voice-enable application. Its users could just ask the application about the daily allergens and pollutants in their area so they could prepare ahead. The app offered a powerful solution to its users while making great use of its brand image and retaining almost all of their existing customers.
Leverage New Technologies
We have already discussed several complementary technologies to IoT that can help you make the most out of your market strategy. AI and Big Data are some of the strongest allies for IoT that can help change the norms across industries. But even limited technologies like voice-enabled applications, QR scanners, beacons and so can open up a lot of opportunities for marketers.
Consider adopting some of these technologies such as geofencing which are inexpensive and effective at the same time. Burger King is a great example of using geofencing for marketing. Geofencing is a technology wherein you can transmit messages or information to mobile devices within a certain area. Burger King set up their geofences across all McDonalds in the UK and as soon as anyone entered within a 500 m radius of a McDonald’s outlet, they received Burger King coupons and directions to the nearest store.
Case Studies
There are a lot of examples of IoT being used to enhance strategies or campaigns. Some of these examples are given below.
Diageo, a whisky brand in Brazil innovatively used IoT to run a father’s day campaign. They encouraged men to buy whisky for their fathers and placed a QR code on their bottles. Once the bottle was received, the fathers could scan the code which would play a personalized father’s day message by their sons. This concept was so loved by people in Brazil that Diageo saw a 72% sales uplift in the two weeks leading up to Father’s Day.
South East Water, CRM leveraged IoT by building an end-to-end IoT ecosystem powered by IBM’s Maximo. This helped them roll out an app that offered near real-time insights into customer requirements for over 80 engineering teams. This alone helped them ensure higher customer satisfaction and accelerated access to critical reports by 99 percent!
Uber and Spotify rolled out an IoT campaign together wherein you could access your Spotify playlists through the Uber app and once you were in an Uber, you could play whatever you liked through the app and it would play on the car’s speakers. This increased customer satisfaction for both Uber and Spotify users.
There are several examples of using IoT in marketing campaigns, and there is never a dearth of ideas. However, in order to appeal to your unique customer base, you need to innovate your product with IoT.
Frequently Asked Questions
What is the IoT strategy?
IoT Strategy refers to an organization’s strategy to inculcate IoT in their business, whether as a marketing tool or as an integral part of the process.
How does IoT affect the marketing industry?
IoT offers a lot of insights and resources to marketers which helps them target their customers better and optimizes any marketing efforts, thereby effectively obliterating traditional marketing practices.
What is the best internet of things marketing strategy?
There is no one IoT marketing strategy that fits all businesses. Each business needs to identify its customer requirements and strategize accordingly.
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