By now, you may have heard rumblings about the "Internet of Things" and depending on the context, it can be defined in many different ways. Everyone, however, agrees that the emerging "Internet of Things" (IoT) will link everyday physical products to each other via the web. This will be (and currently) is done by embedding technology in an object in order for it to communicate with other connected devices. This will essentially create a giant digital information system. The experts at Harbor Research suggest that the Internet of Things will have a bigger impact on our daily lives than either the internet or social media combined, radically shifting the way that we think, act, and connect with each other.
"We are creating a connected world with entirely different touch points," said Glen Allmendinger, president of technology and business development consulting firm Harbor Research. "In the past, a company would sell a product, and it would disappear into a black hole. There was no way to know what anyone did with it or what other marketing opportunities existed. Today, it's possible to see how a customer uses a device and discover all sorts of opportunities."
Recent articles point to the IoT as the interaction and exchange of data between machines and objects, and now there are product definitions reflecting the same concept. Nike has been utilizing this technology for a few years now, with their Nike Fuel band that tracks and monitors your fitness levels, suggests ways to conserve energy, and connects you with a community of Fuel Band users.
There is almost no limit to the possibilities that the IoT will bring and it's no secret that marketing will be at the center of that universe. The Blake Project's Derrick Daye believes that the IoT will change branding in a monumental way. "It can deliver the brand promise at every point of customer contact and deliver a more meaningful relationship. It can help a company create a greater brand alignment across devices, screens and experiences."
Needless to say, the Internet of Things is here to stay. I'm anxious to see how the University of Minnesota will start integrating this technology into the different experiences that they offer. What will this mean in terms of recruitment, retention or giving? Marketing and branding? Only time will tell.