As a marketer, or a business owner the question is this: How will the growth of wearable technology in the coming months affect your marketing strategy? And more specifically–how can you capitalize on it? Keep these things in mind when thinking about wearable technology:
- Location tracking. Location-based marketing has the potential to become an extremely lucrative marketing strategy for businesses that thrive on foot traffic and physical interactions. With wearable technology, a movie theatre could offer a nearby person a coupon for the next showing of a movie they’ve expressed interest in. A coffee shop could show an advertisement for a seasonal drink while a person is on their way to work. As a marketer, these are extremely exciting opportunities that should be carefully considered.
- Behavioral data. Whether consumers like it or not, marketers will have access to more data than ever before. Increased data points and data-access coming from consumers’ wearables provide a very unique opportunity for brands to take customer relationships to the next level. If you want to fully capitalize on wearable technology, now is the time to assemble your team to learn about how wearables are changing consumer behaviors.
- Increased access. Finally, wearable technology will give you more access to your target market. Whereas most people currently disconnect from their smart devices or computers for at least a couple of hours per day, it’s likely that those with wearable devices will leave them on around the clock. This gives you the opportunity to interact with users while they’re exercising, sleeping, eating, or walking down the street.
While the opportunities are endless, it’s important that you perform your due diligence and patiently observe the successes and failures of others before developing an intricate strategy. As a completely new marketing channel, there will be significant trial and error for everyone.
When attempting to capitalize on wearable technology in the early stages, understanding the mindset of the consumer will be the most important thing you can do. Ultimately, you should focus on how you can interact with consumers in minimally invasive ways, while still utilizing the benefits mentioned above. You probably won’t get it right the first time around, but getting ahead of the pack and moving alongside the industry as it expands will better position you for future success.