INTERNET OF BEHAVIOURS: Extra energy to digital advertising and marketing

With the help of the data and knowledge gained in this way, service quality and the value chain can be significantly improved.

With the help of the data and knowledge gained in this way, service quality and the value chain can be significantly improved. (Representative image)

Internet of Behaviors (IoB) is an extension of the Internet of Things (IoT) in that it can generate patterns to influence people’s behavior and is therefore a mix of three areas – technology, data analysis and behavioral psychology. The combination of IoT and IoB is extremely powerful in its ability to influence consumer behavior and therefore digital marketing could use this power as part of its toolbox.

The most visible and successful examples of Internet of Behaviors usage are Facebook and Google, which periodically serve ads to surfers based on the granular analysis and understanding they have developed from regularly collected customer behavioral data. However, collecting and processing data from the IoT is not easy and many companies do not have easy access to this data. With IoT devices set to triple by 2025, it is expected that IoT, which has so far gained in importance in the B2B segment, will also find rapid adoption in the consumer segment.

IoB enables seamless tracking of customer journeys and offers additional touchpoints for reinforcement or purchase decisions. It has the potential to make each milestone engaging, bringing customers closer to the decision point who prefers the product. Connected to the Internet, home devices would be an important source of insight into the lifestyle and mindset of consumers when using products. With the help of the data and knowledge gained in this way, service quality and the value chain can be significantly improved.

With the ability to decipher customers’ intentions as described by the natural language statements, the significant shift in search engine optimization would be about intent, not just words or keywords describing product features and uses. Hence, it would be possible to tap into the prospects for the offers with far superior insights into their psychology and an understanding of the likely choice methods for purchasing the service or product. By knowing where and when the customer is shopping, it may be possible to inform customers in real time of the latest value proposition that could align the deal favorably with the offer at hand.

IoB would enable further personalization through improvements in service quality and efficiency. With the help of IoB, it is possible to improve the quality of the data collected and to combine the data from different sources and to gain unique insights from this data. In this context, it is becoming more and more important for companies to be aware of the sensitivity of customers with regard to data protection and security aspects.

You need to be careful about how the data is collected, stored and used and that it is likely to leak into private realm and litigation will ensue. Cyber ​​criminals could also wreak havoc with the sensitive data, so it would be important to continue investing in robust and secure platforms, as well as using tools like confidential computers and advanced encryption tools.

In order to fully utilize the advantages of IoB, in addition to the technical possibilities in addition to these considerations, it would be important to develop suitable approaches that include studies on the recording of psychological aspects and the choice of the right statistical tools.

The author is the chairman of Global Talent Track, an enterprise training solutions company

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