The Internet of Things has become one of the most highly discussed topics in general and in business. For those not familiar with the concept, the Internet of Things is essentially the idea of the ever-growing web of devices, machines, sensors, etc. that connect to the Internet and integrate/communicate with one another - and consequently the implications for data and innovation that come from that.

We are only beginning to scratch the surface of how this will change the world as we know it. Check out this video which explains how your refrigerator may know more about your diet than your doctor and other mind-blowing ways in which this will transform our lives.

https://www.youtube.com/watch?v=LVlT4sX6uVs

With an evolution in the way we live coming from the Internet of Things, this will inevitably lead to an evolution of connected products which will create the next wave of marketing innovation.

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The Future of Business Innovation: Connected Products

Connected products and the Internet of Things are essentially synonymous with the idea of big data. The more connections companies can form and monitor the more innovation that will come about, the more they will be able to learn about their customers and the more they can create better informed strategies.

Source: Forbes.com

Earlier this year Cisco's CEO John Chambers estimated that the Internet of Things could represent a 19 trillion dollar industry.

While this is of course the industry as a whole, the sheer size of that number should tell you that this is a major opportunity for brands.

Some real-world examples of how this could play out that we have found in include:

• A connected exercise machine which can trigger targeted content based on usage
• Dishwashers sensing when detergent levels are low and ordering
• Product packaging designed to interact with smartphones and other devices (see Diageo example)
• Refrigerators that can sense when food is about to spoil and trigger alerts/product coupons
• Machines (including cars) outfitted with state of the art sensors to implement predictive maintenance

According to a recent article from Ad Age, the marketing implications revolve around the theme "that individual physical products can become their own media platform for brands." Connected products create a new touchpoint with customers that never existed before and the insights from them will be staggering.

What Will the Consumer Reaction Be?

While this no doubt creates a plethora of opportunities for brands, getting users to adopt and embrace these technologies may prove to be difficult. With concerns over security and privacy, the idea of an exponentially more connected life could be off-putting.

Source: emmoco.com

Integrating consumers into the Internet of Things is inevitable, but we believe it will be some time before it gains widespread acceptance due to a combination of consumer concerns and simply that the industry is still in its infancy.

What other ways do you think connected products will impact the future of business and marketing? Will consumers be slow to embrace this future or will they be immediately drawn in by the innovation and convenience that it brings? Let us know in the comments below!