Brands are poised to benefit greatly from the Internet of Things (IoT) over the next several years, as companies are being connected with their consumers in ways they never could before.
Engagement is at the heart of IoT. It isn’t a dusty server sitting in a back office, it isn’t your laptop or even your smartphone. It is a concept built around connecting the various items we interact and engage with throughout the day in a way previously only reserved for what we would describe as computers.
This means that brands have a variety of new methods by which they can connect with and deliver value to the consumer, and to create a lifestyle around interacting with their brand and the environment around consumers.
In much the same way that Michelin generated brand awareness and encouraged use of its tires by creating the Michelin Travel Guide, brands like Under Armour are becoming all-in-one solutions for customers that want to live a healthier and more active lifestyle.
Amazon and Under Armour taking a swing
Customers are buying Under Armour apparel, fitness trackers, and in return providing a ton of useful data to Under Armour to help them create new, targeted products.
The brand previously only associated with tight-fitting fitness apparel is now becoming synonymous with life goals: health and fitness.
Retail outlets like Amazon are branching out from their traditional sales approach and into IoT in a big way. Amazon has recently launched an entire line of products and services aimed at making their services accessible throughout your home. This includes buttons that place orders for common household products with a single press and actively-listening devices that respond to voice commands.
For consumers, this is a good thing. It means that you can get more value from the companies you do business with. They get to branch out and become better connected to you and your individual needs.