IoT regulations are still evolving, and marketers must understand where their data comes from in order to stay compliant. Although the law for IoT technology is well behind the curve, marketers can be caught off guard by updated regulations being applied to the sector
The Internet of Things is rapidly transforming the online marketing landscape. Today, sensors, smart devices, and wearables allow businesses to communicate with customers at a higher level than ever before, with companies gaining near-instant feedback and real-time insights into customer behavior over time.
Products can be directed at the customers who are most likely to purchase them. Data from touchpoints can also reveal where a consumer is in the shopping process. Although the Internet of Things will not replace conventional marketing, it will provide marketers with a plethora of new opportunities.
The pandemic has spawned new consumer patterns that have had a direct effect on marketing: outdoor and display ads, which are staples of the commuter industry, as well as free newspapers, have both suffered significant losses. An increasing number of marketers are realizing that the Internet of Things provides a direct line of communication with customers that they would otherwise be unable to access.
Also Read: IoT to Revolutionize B2B Marketing
Data is critical to the current marketing direction and the promise of IoT. However, it must be collected and nurtured in an efficient manner, and not all businesses are aware of how to extract data to maximize its value. Or, for that matter, negotiating the myriad national legal obligations that come with being data compliant.
IoT systems are widely thought to gather an excessive amount of data and to be more vulnerable to cyberattacks. Edge computing has the ability to address a range of data volume and security problems, whereas artificial intelligence and machine learning are also commonly used for making sense of massive data volumes.
Instead of having to sort through masses of unrelated data, online marketers can get the specific information they need through the edge.
Packaging that is interactive
It’s becoming more critical than ever for online marketers to apply strategies that ensure that users profit from the experience. This will go a long way to help increase brand loyalty.
QR codes and Near Field Communication (NFC) are not new technologies, but they have gained popularity in recent years, especially during the pandemic. As part of COVID’s track and trace systems, people have become accustomed to scanning QR codes while visiting specific locations.
Voice digital assistants have been around for over a decade, but it is another technology that has taken some time to catch on with customers. Nonetheless, platforms like Amazon’s Alexa, and Google Assistant have become commonplace.
Moreover, the widespread use of voice technology has prompted predictions that it would alter the way website copy is posted. Instead of using standard SEO-based copy to drive traffic, marketers would need to adapt the language to match how people talk to voice assistants.
Trying to catch up
The legal system is infamous for being slow to adapt to technological advancements. Given the rapid pace at which technology has progressed over the last decade, this has become much more pronounced.
There is no single federal law in the United States that addresses IoT for customers and data for marketing purposes. The US IoT Cybersecurity Improvement Act was signed into law in late 2020, but it only applies to government devices or those that interact with federal agencies, not to users. But, despite the fact that there are no federal regulations governing IoT, individual states have enacted stringent data privacy laws, the most notable of which is the California Consumer Privacy Act (CCPA).
Given the globalization of most of the world’s data, the fact that various jurisdictions have multiple types of laws complicates matters for marketers – yet another challenge that will need to be overcome, perhaps by an innovative solution.