Marketing Technology refers to the tools used for marketing efforts on the Internet. A futurist is someone who makes predictions about the future trajectories of current trends.
Hope has written about the Internet of Things (IoT) on many technology blogs and sites. His focus goes beyond pure technology. He analyzes the effect of IoT in terms of social, scientific and economic influence. One technology sector he sees IoT having an enormous impact on is Marketing Technology.
Hope believes that the marketing opportunities created by the IoT will drive innovation in the field of Marketing Technology. By 2020, there will be a predicted 75 billion devices connected to the Internet. These are phones, home appliances, watches, cars and things we haven’t dreamed about yet. All these connections translate to data.
Data is the life blood of Marketing Technology. Data drives decision-making. The Internet of Things generates data every second – what sites did a person visit, what did they buy, what did they post on social media about the buying experience, how much did they spend in one day at the mall.
Were all this data linked to a marketer’s database, they would have the ability to respond and interact with their customer. They would know what offers to make once the consumer enters a store. Companies would acquire a clearer view of who their customers are from all this data.
Hope believes that better data translates to higher returns on investment for businesses. Consumers will find their in-store or on-site experience improving as more individualized data is made available. Everyone wins.
Beacon technology will bring some of this vision into retail reality. Jason Hope is betting that it’s only scratching the surface.