Psychographics and Internet of Things

by May 13, 2016 0 comments

NEW DELHI, INDIA: Psychographics and Internet of Things is a match made in heaven. With consumer behavior at one side and big data on the other, a perfect solution/product can be designed to bring the consumer down the sales funnel. Psychographics helps in segmenting and targeting the consumer, thereby making the content message more targeted.

The Internet of Things (IoT) on the other hand facilitates the real time capture of information, collation and analysis of the collected data.  It has the ability to share the information with various stakeholders to create a connected environment.

Context

Psychographics is essential for consumer profiling and with customer relationship management (CRM) tool and IoT you will be able to monitor and analyze the data effectively. This will give you a lead in preparing a strategic sales pitch for the potential customers. Getting the psychographic data is important and its integration with marketing is required to initiate product campaign/survey.

Example – We know that Pinterest is more popular among women so brands can focus more on Pinterest campaign/product promotion and comparatively less on Facebook or other social media.

Scope

74 per cent of brand marketers observe a major increase in web traffic after consistent engagement with the audience on social media.

Psychographics and IoT will be fully integrated with the social media, thereby allowing automated posts and shares to be generated consistently for the target audience. IoT devices, when paired with social media, will also allow marketers to identify new trends.

Trends

  • Internet of Things and connectivity is driving consumers towards digital life in every true sense.
  • Brands now need to figure out how to track, monitor, and make sense of the ensuing troves of data and finding ways to stay relevant not only in the digital world, but in the physical world as well.
  • With psychographics real-world behaviors will become the new click-stream, purchase path, cookie, and search term.
  • Online and offline engagement is now converging just like the way media has converged.
  • The Internet of Things solutions dependency on software rather than hardware makes it more accessible to a wide variety of customers.
  • Universal visualization capabilities allow data to be presented anywhere, including on mobile devices, to any sanctioned users.

 Challenges

  • New technologies are costly. From 3D printers to IoT based products, any new invention/product is not accessible to the wider population in its early stage of development.
  • The collection and storage of data needs to be improved with fully integrated tracking mechanisms.
  • Adoption of IoT technologies will require investment in sensors and analytics capabilities and support, such as data security.
  • Psychographic metrics requires proper tools to evaluate the consumer behavior.

 Solution

According to Cisco, the next nine billion devices connected to the internet in 2020 will use M2M technologies. Many of these devices will be used to link the physical world to the internet via sensors that take readings from their local environment and output the information up into the cloud.

For this reason, the entire scientific community is facing questions regarding data preservation, communication and integrity.

To Conclude…

Using demographics and combining it with psychographic data can help you to target specific groups of people, thereby making your marketing more segmented and filtered. Smart marketing is going to be the key to the future where content will be personalized.

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