Wearable devices are presenting marketers with unparalleled opportunities to reach consumers.
FREMONT, CA: The wearable device market is expected to shift 100 million units per year by 2020 and grow to a $19 billion industry before the decade is out, says the report. Wearable products have already found their niche in the universe of consumer usefulness. Today, wearable technology represents new platforms for marketers too. Wearable technology is inherently more intimate than a smartphone, which makes it critical for marketers to use it in tailoring innovative marketing strategies. Below are essential ways that wearable technology will impact mobile marketing.
Developing Customer Profiles
With the use of the wearable device, customer profiles will become much more profound than they are now, and marketers can draw conclusions where they used to draw inferences. Tracking of physiological responses of customers using wearable devices will give direct information about emotional and psychological states, which can directly yield much more exact customer profiles. Precise geo-location capabilities integrated into wearable devices can tell brands how long a customer spends in stores, which can further information about customers’ interests and needs.
Creating Innovative Forms of Advertisements
Wearable technology will help marketers usher in new forms of device-based advertising. The future of mobile device advertising will require ads that appear on watches or in headsets, and most of these ads will be device-specific iterations. Ad networks can use this new ad space. Wearable technology will also bring in a completely new compensation model—pay-per-gaze. This charges advertisers based on the duration a user looks at a particular advertisement. This information will be used to measure the success, failure, and pricing of device advertisements.
Decoding the Right Time to Market
The trouble with many marketing efforts is their lack of relevancy. There are instances when customers are exposed to marketing messages while working or dining, which is pointless. With wearable being constantly connected, marketers can harmonize the timing of marketing message delivery. By doing this, targets are exposed to marketing messages at the most relevant times.
The marketing possibilities offered by wearable technologies are exciting. The brands that can stay on top of wearable technology progression can solve their problems and achieve marketing success essentially.
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