From Siri to self-driving cars, big data and Artificial Intelligence is hot. Everyone is talking about it in all phases of life and business. Don’t miss out on how this technology can improve your sales process? Your competitors certainly aren’t!
Internet of things
Just a decade ago, the internet was websites, Google searches, and email. How does that compare today with everyone walking around with smart phones, GPS machines, cameras? What about all the connected machines in your home, your car, your street, even your barber shop?
The internet of things exists because all that data is valuable to someone and broadly speaking is all for sale. What is known about you, your activities, your behaviors, how you respond to video, colors, sounds, is all being collected and analyzed.
Companies are using all this data in all phases of their business. From marketing to sales, to design, customer service, finance, etc. It is impossible to survive if you are not using this data. Using this data to generate information that can be used to make their business better. Their products better, their support better, and what’s important to us: there sales process better.
Behaviors not just demographics
How we use the internet of things is by measuring and leveraging all those behaviors that are being tracked in the internet of things.
Traditionally, with marketing we start with the ideal target audience and say, who is this product or service going to help? What problem will it solve? We define the audience based on demographics – this is for a man, 45 to 65, who needs to lose 20 lbs. and lives in Pennsylvania. Or, this is for someone who is managing the HR department at a Fortune 1,000 public company. Broadly, these are demographic characteristics that we can use to target our audience with our message, our advertising.
But by using the internet of things, we can further identify our ideal target audience by their behaviors. What they search for, the websites they visit, the articles they read, etc. Google started this with search and pay per click advertising. If you sell paint, who is a better prospect, someone who owns a house or someone who owns a house and is visiting decorating websites and searching for “what kind of paint to use in a bathroom”?
Facebook knows this because we log in and they know everything we look at. Google knows it because they have our devise id and then we do a search. Amazon, Pinterest, Web-MD, Fortune, the list is infinite. They all know and to some extent, are actively monetizing the time you spend online or on the internet (again, think about the internet of things broadly).
Identity resolution is the key
For the internet of things and behavior tracking to have value to your sales and marketing process, the missing piece is Identity Resolution. You must be able to identify who is doing this and then be able to take that information back to your ideal target audience.
To use this efficiently, you must own and control the targeting data and identity information so you can use it wherever it makes the most sense to use it. To rely on Facebook means you only have access to the people on Facebook when they are on Facebook. What you want is the ability to be talking with your ideal audience, the ones who are actively pursuing a purchase of what you sell, wherever they are and to communicate with them exactly as they want you to.
Learn more –Mistake #2 Advertising to the haystack and not the needles
The internet of things, the huge amount of behavioral data, when combined with identity resolution, allows you to dramatically improve the efficiency of your sales process by getting the right message to the right person at the right time so they take an action you want them to take.