The Internet of Things. The next evolution in the relationship between brands and consumers

Essay from the year 2015 in the subject Communications - Multimedia, Internet, New Technologies, , language: English, abstract: The Internet of Things is the next evolution in the relationship between brands and consumers. Through the use of machine to machine (MTM) technology (a.k.a. smart devices), brands are able to deliver relevant and meaningful messages in real-time to consumers, while consumers are provided with on-demand access to the products and services that they want and need. As brands aggregate and analyze patterns in individual consumer behaviors, they are better able to offer products and services that meet the needs of consumers. Brands can use this intelligence to further engage loyal customers, and combined with market and empirical data, they are able to design strategic messages that promote changes in consumer behaviors. With access to individual consumer data and the technical means to directly communicate customized messages, the Internet of Things will enable brands to develop personal relationships with consumers and influence how they feel about their brands. The decision journey that drives consumers to purchase a brand starts with an understanding of who the brand is, the value of the product or service to the consumer, and the consumer's personal experience with the brand. Brands must understand that across the decision journey, every touch by a consumer is a brand experience. Making the first touch of a brand a memorable experience helps turn a one-time customer into a repeat buyer. Consumers relate to a brand through its 'brand personality,' or the characteristics that make up the brand itself. A brand's personality helps consumers to feel further connected to its products and services, especially if the brand's personality is similar to their own.