How has mobile changed the way people live their lives? The dozens of times a day a person pull out a phone creates moments of opportunity for brands to see what consumers are actually doing and provides signals for marketers to respond to. Mark Curtis, Chief Client Officer for Fjord Accenture Interactive, discusses what brands need to know about connecting data, the “Internet of Things” and “Living Services” to succeed in this environment.
Every business today has some degree of awareness of the importance of its data. So what’s holding organisations back from making the most of it? It’s about having the confidence to focus, and then making decisions on what they choose to seek to know. Otherwise it’s just lumpy soup and no one knows where to start.
Overall probably less than 10% of brands really understand the scale of the "Internet of Things" opportunity. Let’s be fair though; right now is still very early days and very few people really get it. A bit like desktop web and then mobile, the full implications will emerge over time. Experimentation will yield long-term competitive advantage and know-how.
In digital marketing in the next five years, “Living Services” will take attention away from other channels. Living Services is how brands will use the Internet of Things and powerful data analytics to create services that come to life by predicting and reacting to consumers’ changing needs and circumstances. In other words, branded services that are personalised and change in real-time for every individual wherever they are and whatever they are doing. But Living Services will be very difficult to market through – marketing will get closer to service delivery.
If you want your business to flourish, here’s what you and your teams should do: count how many brands you seriously love and engage with frequently – not including your own, of course. Assess how these have changed over the last ten years, then imagine a strategy around Internet of Things and Living Services to break into this very rare space.
Discover more about Living Services in Fjord's new report here.