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Interactive and Digital Marketing > Module 6 Videos > Flashcards

Module 6 Videos Flashcards

1
Q

Internet of Things

A
  • 3rd Internet wave: desktop> mobile>ioT (embedded on things)
  • Interconnected devices connected to internet (usually wireless) Approx. 28-30 billion connected devices worldwide in IoT. Projected in 2025 to be 75 billion
  • Leverages Big Data and A.I. for insights and real time implementation of solutions
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2
Q

IoT Current Scenario (Trends)

A 
Smart Cars
Smart Environment
Smart Energy
Smart Agriculture
E-Health
Retail
Logistics
Industrial Control
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3
Q

Analog to Digital “Digitization of Businesses

A
  • Business definition: “Analog vs. Digital” e.g., printed vs. ebook, “typical” car vs. Smart Car . If not analog-digital
  • Growing talk of “digitization strategies” by companies, retailers, and factories-driver is IoT and AI
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4
Q

What is the IoT

A

• Sensors and actuators embedded in physical objects linked through wired and wireless networks so internet enabled : “embedded internet”
• Term Internet of Things invented back in 1999, initially to promote RFID technology
• Use cases, main one’s in:
 Agriculture
 Energy
 Environmental monitoring  Manufacturing
 Retail

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5
Q

Evolution of Business Models in the IoT

A

Product
Product + Ancillary Services
Outcome-based

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6
Q

Product (IoT)

A

You start out selling core products eg appliances, motors. You add the option to connect to the Iot-enabling this via RFID, WiFi, BT, etc., eg sell printer

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7
Q

Product + Ancillary Services (IoT)

A

With IoT enabled products, you can now offer, usually as an upset, ancillary services such as online monitoring, repair warranties, data analytics, auto-replenish, 3D printer plus resin supplies plus warranty

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8
Q

Outcome-based (IoT)

A

A more extreme business model is one that moves away from the physical product and service pricing model to one that gets paid some % for the outcomes–was very hard previously due to how difficult to monitor. Now you provide 3D printer, components and get paid some % on output
—Captures more value and recurring revenue streams–subscription type model–also riskier

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9
Q

ioT Challenges & Breakout

A

Challenges:

  1. Hype vs reality
  2. Lack of standards for billions of devices (30B+ in a few years)
  3. Data overload
  4. Privacy issues
  5. Security-e.g., hacking

Breakout

  1. Use cases e.g. industrial maintenance
  2. IEEE has working group and standards but still an issue
  3. Artificial Intelligence
  4. USA-mainly up to the good will of companies
  5. Blockchain
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10
Q

Use case: Alexa-Echo or Google Home

A
  • Driver for Google & Amazon to dominate the Home AI powered “Voice Assistants” but Amazon has a big home court advantage
  • Power shifting away from Brands e.g., have to pay Amazon to promote
  • Opens need for large Consumer Packaged Product companies (CPGs) to perhaps sell direct-perhaps band together
  • Major companies all investing in AI text &voice activated commerce, ebay, 7-11, etc. -may be able to leverage their mobile apps
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11
Q

Retailers vs Amazon

A

 Majority product searches on the internet-(approx. 60%) start at amazon.com vs. search engines (around 30-35%). Amazon ramping up locked-in advantages with Amazon Prime, Alexa, Echo, Dash…

 Google working with big retailers e.g., Walmart, Target, Costco, Home Depot, on commission model (vs. ads).

 Key driver is home delivery and voice searches. Retailers see 30% increase in average order size with Google Express.

 Google offers partner merchants priority in search results and option to promote their products through Google Assistant and Google Express.

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12
Q

Google Express

A

 Google Express is a home delivery service, can buy from major retailers like Walmart, Target, Walgreens from Google Express app

 Products delivered 1-3 days to your home by Google service

 By 2022, it is forecasted that over half of all US households will have either an Amazon Alexa, Google Home, or other smart voice device. Consumers will continue to place orders via voice and are likely to buy from retailers that make the experience as easy as possible.

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13
Q

A wearable can be categorized broadly into the following 6 categories:

A 
Lifestyle
Entertainment
Medical
Fitness
Gaming
Industrial
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14
Q

Lifestyle

A

Includes Smart Watches, Smart Glasses and Devices used for Voice and Video calling, Gesture Control, etc.

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15
Q

Entertainment

A

Devices used for augmented reality, smart gloves, gesture controlled devices, etc.

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16
Q

Medical

A

Devices used for Cardiac Monitoring, HearingAid, Bionics, Remote monitoring of Patients, etc.

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17
Q

Fitness

A

Devices used for measuring heart rate, distance travelled, skin temperature, etc.

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18
Q

Gaming

A

Devices that use augmented or virtual reality for gaming.

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19
Q

Industrial

A

Devices that help in Hands-Free and Remote operation for business and industrial purposes.

20
Q

The current trend is mostly towards…

A

…activity monitors.

Fitness & Healthcare have been big drivers for wearable technology thus far.

21
Q

Challenges for wearables

A
  1. Overlap b/w smart watches and smart phones
  2. Too many devices per person
  3. More limited battery life.
  4. Tend to be expensive, buggy
  5. Usability for some tasks in small screen, eg Voice
22
Q

Privacy issues

A
  • Personally Identifiable Information (PII) is protected by law
  • Individuals must be informed that their data is being collected

i. Choice
ii. Security
iii. Access
iv. Enforcement

23
Q

Choice (Privacy issues)

A

allow opt out (if they don’t agree, you can deny service if it makes business sense) shold separate options, yours vs. transfer to 3rd parties

24
Q

Security (Privacy issues)

A

reasonable efforts to protect (ssl certificates-encryption)

25
Q

Access (Privacy issues)

A

people must be allowed to see what is data is held and give them the ability to correct

26
Q

Enforcement (Privacy issues)

A

policies must be enforced

27
Q

Mobile consumer behavior

A
  • Highly personal, unlike a desktop, where perhaps many people in a Household (HH) share
  • Constant checking and engagement with the device
  • For most people, always with them: business, personal, vacation, etc.
  • They have become more powerful, a Swiss Army Knife of things, e.g., replaced cameras, video, can live stream events, movies, etc.
28
Q

Mobile consumer behavior continued

A
  • Apple device owners however tend to be early adopters (e.g., mobile payments or apps), have larger order sizes, and tend to buy more expensive products than Android users
  • Use your web analytics package to look at your highest LTV segments and see what device majority use…may change but Apple up there
  • Searches and website visits on desktop tend to be more exploratory (e.g., crash tests for new cars) and more likely used for mid to high dollar amount purchases
29
Q

On mobile, use and intent is more…

A

…local, task and command oriented “find this:, “get directions to”…

• Think of this fact, when creating campaigns be it advertising or organic type campaigns

30
Q

Retail locations are the…

A

…#1 single out-of-home place for smartphone owners to take action
• Updated statistics: age, income, etc. in appendix pdf

31
Q

Sometimes “contextual” is used only for…

A

…behavioral advertising

32
Q

Mobile & Big Data Analytics (AI)

A
  • Pre-mobile: target market might have been segmented into 2-5 segments- based on their needs and wants, behavior, demographics, etc.
  • Data in the past was somewhat static, but with the advent of:

a) Mobile- e.g., consumers have with them most of the time
b) The ability to track users (e.g., GPS) and store large data sets
c) New infrastructure tools that allow almost real time processing of large data sets (e.g. Spark)
d) Statistical analytics software (e.g., SAS or R or Python)
e) Advent of machine learning

New reality: real time hyper- segmentation some call “contextual” (but that sometimes is used more for ad targeting):

  • Hundreds of segments are now possible: marketers can set up rules or let AI create real time segments and offers
  • We can now assign one individual into many segments within a single day based on changing parameters
33
Q

Use case for hyper-personalized real time offer

A

Target: McDonald’s customers using mobile ordering and payment enhanced app. real time offers

Event conditions and trigger:

  1. Hot summer day 90 degrees, Saturday at 2:30 pm
  2. Target is a 1-mile away from a McDonalds location and heading in that direction
  3. This event triggers target’s profile and analytics of their ordering history (used McD’s app which logged transactions)
  4. Prepares push notification message with an incentive based on past product and best incentive for that time of day
  5. When the car stops at a stoplight they are sent that push notification for their favorite Milkshake
34
Q

Mobile friendly website vs. Mobile Native App

A

fill out

35
Q

Comparison

A

fill out

36
Q

Mobile friendly websites

A

still very powerful & relevant

fill out

37
Q

3 basic types of application

A

Native Application
Hybrid Application
Web Application/Responsive Design

38
Q

Features of Native Application

A
  • FastandbestUX-works offline
  • Leveragephonefeatures (e.g., camera, geolocation)
  • AppstoreOS, Android and Windows-need to create an app for each OS-level of security
  • More expensive to develop
  • Hassle with new versions or changes and potentially supporting multiple versions
39
Q

Features of Hybrid Application

A

• Performance and UX not as good as native app-works offline
• Leverage phone features (e.g., camera, geolocation)
• Can be added to an app store
• Cost is lower than native –tweak to
work on different app OS platforms vs
building from scratch
• No icon on mobile “desktop”
• Wide spectrum of types -e.g., hybrid from Google PWA-faster hybrids

40
Q

Features of Web Application/Responsive Design

A
  • Fast online but does not work offline
  • No access to a mobile device’s features such as camera
  • Easier and cheaper to build (html 5, JS,CSS) & maintain
  • No store to submit-downside people may not know it exists
41
Q

Mobile App usage and your business

A
  • In the US, the average number of apps used per day is in the 8-10 range– depending on the age group. Comscore says 2.5 hours per day average.
  • Top 4 mobile app categories are social media, music, video, pictures, messenger and gaming-keep this in mind when deciding if to create your own app-it all depends on what category you fall under
  • Average number of minutes spent per day on retail mobile apps is a small % of the average. Decide if your different and if you could make app more “sticky”
  • Crowded app landscape: some 3 million Android apps and over 2 million in Apple’s App Store. More paid apps sold and better revenue stream on Apple store for apps
42
Q

Mobile apps (native/hybrid) unique metrics

A

Benchmark within your category

  1. Number of downloads
  2. Daily Active Users (DAU) (who opened app)
  3. Monthly Active Users (MAU) Daily (who opened app)
  4. Sessions per DAU
  5. Retention measured by day/week/month
  6. Stickiness (DAU/MAU) * 100 If 10 is DAU and 1,000 MAU=1%
43
Q

Mobile native or hybrid app design

A
  • Stickiness is closely tied to UX which starts with the design and a customer experience journey mapping
  • There are some wire framing tools tailored for mobile apps, see appendix
  • More consideration for “space distribution: finger interaction to avoid “fat finger clicks” e.g., different ways to fill out forms
  • Determine the screen flow order (hierarchy) based on content prioritization
  • Consider the interaction with API phone functionality (e.g., camera)
44
Q

On & Off Deck Apps

A
  • On deck come pre-installed with your device, e.g. Facebook, Twitter, G+ (Android) and less known apps that pay a premium to the device manufacturer (e.g., Apple or Samsung)
  • On deck more likely to be used but high cost & if too many preloaded and no brand recognition—an issue
  • Off deck- you have to go to the Apple, Android store and download if native apps
45
Q

Google nearly spends

A

$19 billion to provide pre- installed apps on Android smartphones.
In fact, Google has paid nearly $3 billion to Apple to be the default search engine on built- in web searches on Safari.

46
Q

Apps for Gaming=

A

Engagement

47
Q

Apps=

A

Customer Service
Lead Generation
Sales

Interactive and Digital Marketing (16 decks)

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