Wearable Technology Is On The Rise, But What Does This Mean for Marketing in the Future?
There’s no denying the power of smartphones and tablets, as they were responsible for a significant shift in the way we do things, changing our online experiences and making marketers adapt to the new digital landscape.
Wearable tech could be the next piece of the puzzle to cause some stir, and shape the future of marketing. According to Business Insider, approximately 148 million units of wearables will be purchased in 2019, significantly more than the 33 million sold in 2014.
To be specific, the figures are also on Apple’s side, as the tech giant sold more Apple Watches in 2015, than Android Wear devices were sold throughout 2014.
There’s an inevitable futuristic quality attached to wearables, one that makes them seem incredibly promising. The device’s compact size calls for immediacy and concise content, which can make traditional advertising, and even YouTube look quite old in comparison.
Additionally, the phrase “You are what you wear” rings true in this case as well. Wearable tech is primarily utilitarian, but the device is also related to fashion, and arguably, that is one of its unique selling points. The focus on the appearance of the device will always be prominent, and it’s easy to see why: one is bound to prioritise the aesthetics, especially when the product is visibly attached to their wrist every day.
The impact of wearables varies greatly from one sector to another. The device can yield excellent outcomes, particularly in certain industries: Health and Fitness is at the top of the list, as consumers recognise how useful the device can be in that area. According to PwC, 77% of users want the device to help with exercising, while 75% want wearables to gather and track medical information.
The sector of E-Commerce is also a suitable one for wearables: A study by Computer Business Review shows that 70% of consumers would be happy to exchange their personal information (buying habits and search data), for promotional offers. This is good news considering companies can benefit from usable data to tailor content, and make the wearable experience a lot smarter.
Another significant sector is App Development. There’s a growing willingness to invest in the technology, which shows the potential of the App Development industry: the Apple Watch already offers more than 8500 apps. Not to mention that both Google and Pebble also have their own growing list of apps.
Apps that take communication to the next level can be the cherry on top, lending a newfound efficiency to wearables that can be particularly appealing to professionals who are always on the go, and make their working lives more convenient.
The increasing popularity of wearables can change customer experience as we know it, and for the better. Besides mentioning exercise and medical information, Millennials have also said that the retail experience is one of wearables’ main attractive traits.
Indeed, the promise of an enhanced customer experience is definitely on the cards.
Scott Bauer, PwC’s U.S. retail and consumer practice partner, had this to say: “Wearable technology will slowly shift retail conventions — as retailers will be able to connect the dots between pre- and in-store behaviour — and reach a new level of interconnected retail.”
This is certainly one of wearables’ main strengths. Wearable tech can use consumers’ real-time location and proceed to deliver geo-targeted ads to them.
Real-time intent data allows customers to receive personalised recommendations and deals according to their location and responses. Geo-targeting can be applied with mobile, but it can take new shape within wearables, making it even more efficient, due to the more intimate experience wearables can afford.
Wearable tech is officially on the rise, and that prompts quite a few questions about its future and its impact on marketing.
The product’s target market is tech savvy and holding high expectations. The small screen will need to offer a seamless experience, and content will also need to inspire confidence more than ever. But rest assured that no challenge is too big for the right professionals.
What are your thoughts on this new technology? Leave a comment or send us an email! We’d love to hear from you.