Mike RamosInternet of Behaviours (IoB) is an extension of the Internet of Things (IoT) because of its capacity to create patterns that influence the behavior of people. Thus, it is a blend of three disciplines – data analytics, technology, and behavioral psychology. Combining IoB and IoT results in a highly powerful tool with the capability of determining consumer behavior. Thus, digital marketing could greatly benefit and use this weapon as part of its ammunition.
The most obvious and effective examples of capitalizing on the Internet of Behaviours are Facebook and Google, which provide adverts to surfers at regular intervals based on detailed analysis and understanding gained from customer behavioral data obtained on a regular basis. However, collecting and analyzing data from IoT is not simple, and many businesses do not have easy access to this information. With the number of IoT devices predicted to triple by 2025, IoT, which has so far gained headway in the B2B sector, is expected to gain traction in the consumer sector as well.
What is the Combined Impact of the Internet of Things (IoT) and Internet of Behaviors (IoB)?
The Internet of Behaviour is a subset of the Internet of Things. When companies use the Internet of Things to persuade us to change our habits, it’s not about the “things” at all. As the Internet of Things connects people with their actions, we’ve entered the Internet of Behavior. As earlier mentioned, IoB can be regarded as a synthesis of three disciplines, technology, data analytics, and the study of human behavior, referred to as psychology. When we use technology, we explore four areas of behavioral science: emotions, choices, augmentations, and companionship.
Companies who have a good understanding of us because of data provided by IoT can now use IoB data to influence our behavior. Smartphone apps can now be used to keep track of our sleeping habits, nutrition, blood sugar levels, or heart rate. The apps alert you to potentially hazardous situations and suggest behavior modifications that would result in a more favorable or desirable outcome.
How Does Internet of Behaviour Work (IoB)?
- Data Collection
Consumer data can be collected from a variety of sources, including a company’s website, sensors, beacons, social media profiles, telematics, health monitors (such as Fitbit), and other devices.
Each of these websites collects various types of data. A website, for example, may follow the activities of a user on a page, such as how many times a user visits a certain page or time spent on that specific page. Telematics can also monitor how hard a vehicle’s driver brakes or the vehicle’s average speed.
- Data Evaluation
The collected data is evaluated by businesses for various purposes. These include, among other things, aiding firms in making informed business decisions, adapting marketing strategies, producing products and services, and driving user experience design.
Companies set guidelines to help with data analysis. When a user takes a specified action(s), the company begins to persuade them to change their behavior. For example, if a user visits a company’s page selling men’s thin jeans three times, a pop-up ad offering them 25% off a pair of jeans may appear.
- Data Utilization
IoB combines data from different sources and examines it so as to make a decision. Businesses may create detailed profiles for each user by gathering information from various sources. These profiles can then be examined to determine the best course of action for the individual.
For example, a consumer named Ted comments on a photo of a new sneaker on the brand’s Instagram page. A few days later, Ted goes to the brand’s website and looks at the exact same sneaker. Ted is viewing a sneaker commercial on YouTube after a week. Meanwhile, Ted’s digital content touchpoints are being tracked by the brand.
Since Ted has expressed interest in the brand’s shoe, the company may analyze this data and design a strategy for turning Ted into a customer. For example, the brand may use remarketing display advertising or email Ted a discount voucher.
How the Internet of Behaviour is Used in Various Sectors
- IoB in Business
A growing number of firms are turning to online advertising to reach out to their customers. With the help of IoB, they may be able to identify and target certain individuals or groups that could benefit from their products or services.
Both Google and Facebook use user behavior data to provide adverts to their users. This allows businesses to communicate with their target customers and track their responses to adverts through “click rates.”
Youtube employs behavioral analytics to improve the viewer’s experience by only recommending or promoting videos and themes they are interested in.
- IoB in the Healthcare Industry
As a result of the COVID-19 outbreak, we are more conscious of the precautions we must take during this time. Employers may employ sensors or RFID tags to check for irregularities in enforcing safety regulations. Restaurants and food delivery apps, for example, use protocol information to help them make decisions.
Restaurant safety procedures were demonstrated and advocated by Swiggy and Zomato, for example. The temperature of the delivery person was also monitored and disseminated to reassure customers that they were safe.
- IoB in the Insurance Industry
you could be very useful in the insurance market. Insurance firms such as Allstate and StateFarm already employ driver tracking software to monitor and secure a motorist’s behavior. They can use IoB to assess behavior and determine if a specific incidence was an accident or a miscalculated assumption on the part of the insured.
This can help prevent incidences of intoxicated driving, drugged driving, and even underage or retired individuals from getting behind the wheel and causing an accident.
The Internet of Behaviors provides organizations with cutting-edge tools for promoting products and services, as well as influencing the behavior of users and employees. This technology is extremely beneficial to businesses since it helps them to optimize their consumer interactions based on the data collected.
The science of behavioral data is continually evolving. However, as new IoT devices proliferate, the debate over what constitutes essential data and how it should be used ethically is just getting started.
