Marketing Idea No. 283: The Internet of Things

Coming soon to a future near you, your shoe will interact with your refrigerator indicating what kind of mood you are in and depending on that, the refrigerator will suggest dinner in collaboration with the Japansese microwave sitting beside. Just after that, your ever changing bedroom lights will create the perfect ambience to sooth your flailing nerves.

Use of internet connected smart appliances or popularly known as “Internet of Things” is no longer in the fiefdom of science fiction only. As per Business Insider Intelligence report, 1.9 billion devices today, and 9 billion by 2018 will be connected to Internet which is roughly equal to the number of smartphones, smart TVs, tablets, wearable computers, and PCs combined. It will drive trillions in economic value as it permeates consumer and business life.

Imagine the possibilities this will open up for advertising. Your refrigerator will become your next media space for advertising. Why put the advertising for your “Mint-Goji Berry Chocolate Yoghurt” in TV when it makes much more proximity and relevance sense to put it on refrigerator?

The transformation of media is neither easy nor quick though. For years of talking about the death of TV and radio, both are still very much alive and probably still driving the majority of ad spending. Newspapers have not gone out of business due to digital subscriptions. For all its hype, Twitter is still in red ink and don’t know how to monetize from a Tweet. And the whole world is still trying to figure out how to make money from mobile advertising without annoying people.

But the immense world of opportunity in “Internet of Things” is out there and inevitable. We just have to crack open the way to ride this wave better.

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