Industrial IoT, IoT Security
Article | July 11, 2023
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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IoT Security
Article | July 5, 2023
The evolution of internet-based market models has changed the way businesses operate. Present-day businesses know that data visualization in business intelligence is integral to competitive success. Therefore, businesses are now expanding their data and intelligence retrieval capacities. As a result, IoT (Internet of Things) data visualization is gaining popularity among industrialists and researchers across various disciplines.
In corporate finance, IoT-based efficient data visualization analyses data from multiple sources with the help of corporate analytics management tools and manages data quality for business intelligence to reduce the risk of leaks.
Impact of IoT Data Visualization on Corporate Finance BI
Data is everywhere— right from a customer's first visit to your company’s website until he signs out, all the behavioral patterns and data are tracked. All this data becomes useless unless it is utilized for a particular purpose.
Analyzing this data to predict future trends is one of the significant benefits of smart data visualization tools and technologies. It helps to slice and dice the data gained from different sources of different complexity levels to the minute granular level. Business intelligence utilizes these insights and the existing database to run risk analysis.
It gives an overview of your financial performance and the risks and exposures it faces. And if you switch the KPIs at the center of any dashboard, your entire team can instantly access the most important and relevant data.
IoT data visualization can measure big data on customers more efficiently, allowing organizations to add value to their customers. Customized tools will analyze your customers’ data and produce reports according to specific customer needs to help you get a deeper insight. Corporations can also utilize this data to better understand their competitors’ benchmarks.
Customizable IoT Data to Store Millions of Data Points in One Place
IoT collects millions of data from various complex sources. The data visualization dashboard contains multiple widgets that convert this data into various forms, such as line graphs, geographical maps, bar charts, pie charts, gauges, heat maps, etc.
This information, transmitted into multiple visualizations, helps organizations to unlock every piece of data into a valuable asset.
The Benefits of Using IoT Data Visualization
Businesses can collect, analyze and monitor a variety of data using IoT, such as internet usage data, video surveillance data, mobile app usage, and social media. It helps businesses to design products and provide personalized value-added services to drive better consumer engagement. Here are some key benefits IoT data visualization offers:
Unlock multiple insights across various verticals
Addressing important financial concerns proactively
Combination of multiple data sources into a single insightful dashboard
Multi-layered visual data.
Combines new data with the existing data to analyze new business opportunities.
Better performance on IoT data flow.
Analyze multiple data correlations in real-time
Improved Collaboration
Well-coordinated and efficient performance.
Cost reduction
Accurate data interpretation
Mitigate risk factor
Better decision making
Conclusion
Hands down, IoT data visualization intelligence in a company’s business operations will lead to better decision-making. But, before you choose an IoT data visualization tool for your business, you should know what kind of data you need to analyze and if you need any additional historical data. Because IoT services offer data visualization tools and techniques to analyze and monitor the data accordingly to predict future trends. So, it’s important to identify the goals before selecting a tool for your organization.
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IoT Security
Article | June 27, 2023
Every major industry, including retail, transportation, banking, healthcare, and energy, has significantly benefited from the Internet of Things. Processes like supply chains are where the Internet of Things best demonstrates its promise. Applications for management, forecasting, and oversight aid fleet managers in increasing distribution's operational effectiveness and decision-making openness.
Some of the primary goals for IoT deployment in supply chain management include tracking and monitoring. For example, warehouse and fleet managers can use technology to keep an eye on their stock and freight.
Reasons to Use IoT in Supply Chain Management
Real-time Location-tracking
Thanks to the Internet of Things, managers have access to a consistent stream of real-time data on the product's location and the environment surrounding transportation. You may keep track of the delivery of both finished items and raw materials, and you will be informed if the product is transported in the wrong direction.
Monitoring of Storage Conditions
Environmental sensors allow management to monitor cargo conditions and take immediate action when something changes. One of the most popular IoT supply chain systems, for example, collects data on pressure, humidity, the temperature inside vehicles, and other factors that could harm the goods and then automatically adjusts the environment.
Enhance Your Emergency Planning
Supply chain managers can design routes with the use of IoT and data analytics, taking into account traffic, weather, potential accidents, and other delay-causing events that may occur along the way. The Internet of Things collects all the data required to create adaptable backup plans and identify the source of any current delays. Also, supply chain managers can get alerts from the system in real time, which speeds up reducing risks.
Forecast Goods Arrival and Movement
IoT devices and data analytics systems are used by managers to enhance the decision-making process and boost the accuracy of delivery estimates. Real-time tracking lets businesses keep track of products as they are shipped, predict when they will arrive, and plan for and reduce the risk of delays.
Conclusion
There are many different IoT applications for supply chain management. For example, it improves communication between parties, makes it easier to track and monitor commodities, and makes planning more precise.
As long as you have a clear goal for what you need the technology to achieve for you, an IoT-based platform is an excellent investment for both small and large organizations. It's also essential to bring on a talented team for the design and development phase.
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IoT Security
Article | June 28, 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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