The Internet of Things is Changing the Way We Market
4P’s to the 4C’s
Product | Place | Price | Promotion — Creating | Currating | Connecting | Culture
#Socialnomics launched this video showcasing the power of social and mobile. It was created by best selling author and keynote speaker Erik Qualman (@equalman). More information at http://www.equalman.com. Data from #1 Best Selling book #Socialnomics by Erik Qualman
It’s not about the how much a product costs, whether it’s within driving distance or if you like their jingle. The new wave of marketing has skinned another layer of the onion. It’s about connection – connection from person to person, device to device and so on.
The opportunity for marketers here is to not be limited by technology, instead embrace it. The market, the consumer, being connected is tablestakes now. This means that like enchanted objects and the IoT’s, we need to tie our customer lifecycle communications, along with product transactions and interactions into one seamless engagement. Think simply, talk to your customers, and create products that change the fabric of our daily living.
“Companies can begin taking steps now to position themselves for these changes by using the new technologies to optimize business processes in which traditional approaches have not brought satisfactory returns. Energy consumption efficiency and process optimization are good early targets. Experiments with the emerging technologies should be conducted in development labs and in small-scale pilot trials, and established companies can seek partnerships with innovative technology suppliers creating Internet-of-Things capabilities for target industries” (Chui, M., Loffler, M., & Roberts, R., 2010, March).
In short, move away from what you were taught and embrace what you are currently experiencing. It’s not going anywhere.
Chui, M., Loffler, M., & Roberts, R. (2010, March). The Internet of Things. Retrieved March 28, 2016, from http://www.mckinsey.com/industries/high-tech/our-insights/the-internet-of-things