There’s so much choice available that customers can pick and choose who they buy from and where, when, and how it happens. They want to discover, research, evaluate, and purchase on their preferred channel. Give them that option, and they’re more likely to choose you. That’s the whole point behind the multi-channel approach.
The technology industry moves at a relentless pace, making it both exhilarating and unforgiving. For those marketers at the forefront of innovation it is an incredibly exciting place to be, but what trends are we likely to see coming to the fore in 2016? Below are five predictions relating to security, big data and the Internet of Things (IoT) that will have a major impact on the marketing technology landscape in 2016.
1. Tagging data at source will multiply the value of big data exponentially
The big data concept has been around for a number of years now, but most businesses are still struggling to extract any value from the data they gather. This is typically because they are looking at the data in isolation, which in itself is largely meaningless. In order to make sense of big data, it must be examined within the context it was collected. By tagging data at the point of collection with additional contextual information, the value that can be extracted from it across an organisation is multiplied significantly. Key factors such as where and when the data was collected or who/what it was collected from are central to understanding data more effectively. Consent, context, identity and security data points will all significantly boost the value of big data exponentially.
2. The evolving Internet of Things will change the way we interact with the world around us
The Internet of Things (IoT) continues to rapidly gather pace but to
date, the majority of popular IoT applications have been ‘nice to have’ rather
than business critical. This is about to change. As technology evolves and contextual
big data becomes more meaningful, businesses and governments will be able to
harness the IoT to fundamentally change our daily lives. Central to this is the increasingly
intertwined relationship between people, ‘things’ and apps, meaning anyone with
a smartphone is able to receive a constant stream of personalised information
straight to their device. They can also act on information immediately using
bespoke apps and services, should it be required.
3. The fight to become the ‘Amazon of the IoT’ will intensify
Amazon’s disruptive one-stop-shop approach to online shopping saw it quickly become the dominant force in the retail industry. As the IoT’s vast potential becomes more apparent, we will start to see a growing number of organisations fighting to establish themselves as the go-to provider of IoT solutions, or the Amazon of the IoT. This will spur the rise of the IoT mega-platform; vast one-stop-shop Platform-as-a-Service solutions. The battle will likely play out across both the consumer and enterprise spaces and many of the usual suspects are already coming to the fore. Apple, Google and Intel are all vying for control of our homes, while Microsoft, IBM and Oracle are fighting over our businesses, but the scene could be set for a disruptive innovator to come in and take
everyone by surprise. After all, no one had heard of Amazon 20 years ago…
4. Technology enabled transparency will become a competitive differentiator
Modern consumers want highly tailored, personalised services
delivered straight to their devices, yet are rarely willing to part with the
personal information needed to provide them. Organisations must ask themselves why this is
the case? The answer is invariably linked to privacy and trust. Many consumers
quite rightly have apprehensions about divulging too much personal information
online, particularly when existing privacy controls typically have an all or
nothing approach to privacy. As such, in one click, you either must divulge
everything about yourself, or nothing at all. Organisations able to offer a
more bespoke privacy sharing experience will have a distinct competitive
advantage. A new standard, known as User Managed Access is now becoming available
that can deliver this kind of experience. Those that embrace it early will be
able to build a far stronger relationship with customers built on trust and
5. Identity based technology will shoulder more of the security burden
Even some of the most robust network security measures cannot protect against simple customer errors, often with disastrous consequences. However, the growth in identity-based technology will soon address this difficult security blind spot. Adding identity based security layers to a traditional security solution can significantly strengthen overall protection by ensuring the individual requesting access is exactly who they claim to be. In addition to factoring in geographical location and further identity based personal checks, organisations can use this approach to implement mid-session security checks as well. This approach protects against fraudulent activity if the legitimate user has stepped away from their computer, thus further securing the system as a whole.
No one can predict the future with absolute certainty, but there are plenty of clues out there that can be used to better understand what lies ahead.
Authored by John Donovan, Regional Vice President for Australia, New Zealand and ASEAN, ForgeRock.