27th May 2015

How will wearable technology change marketing strategies?

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I’m a big fan of wearable technology because it has proven to be a great motivator for people who like to monitor and improve their fitness. But how much of a place does wearable technology have in a digital marketer’s strategy?

With any communication strategy, there are many obstacles to overcome in any digital marketing effort; such as finding ways to collect consumer data and overcoming privacy legislation. But the benefits of wearable technology marketing can easily outweigh the initial struggle if you plan smartly.

The introduction of new wearable technology has increased the possibilities of targeting the mobile customer and creative marketers and digital marketing agencies alike should be able to identify better ways for targeting the mobile customer at various touch-points in the customer journey.

Example 1: Your Near Field Communication (NFC) registers 4 coffee shops nearby and your smart watch receives a sales promotion of ‘1 FREE coffee’ with a bagel. Following on from this purchase the customer is sent a post-purchase thank you message.

 

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Example 2: When tracking and completing your run using your smart watch, you are sent a message informing you of nearest places you can get your favourite water brand.

Why is wearable is great for engagement with consumers?

Wearable technology is a combination of mobile and online channels and can help CMO’s deepen customer relationships, build brand advocates and reach new audiences.

The greatest benefit of wearable technology is the direct line of communication with customers creating a truly personalised experience where the customer is at the heart of the conversation.

By engaging with your customer the right way (with permission) they are more likely to become loyal customers who spread positive word-of-mouth and help attract a new set of customers. What better way to build brand equity?

According to new research from Accent (a leader of omnichannel customer engagement solutions) fitness tech wearers are ready to engage; online shoppers not so much. 74% think wearable technology will change how they engage with fitness providers and 22% say in-store and online shopping.

Source: http://www.accentonline.com/media/filer_public/c0/13/c0136df3-9732-4d2c-aedf-ca92729bc95c/accent-wearable-survey.pdf

The next steps

The future of wearable technology is unknown but that doesn’t stop it from being exciting. Before you can begin any wearable technology marketing campaign you need internal support from any stakeholders who need to be convinced of the benefits. This can be difficult to do especially as it isn’t a fully tried and tested process and because there are businesses that still haven’t fully come around to the benefits of digital marketing.

However, once marketers sort the pros from the cons of wearable technology, gather data and refine their efforts, we’ll see more marketing efforts and budgets put towards this new way of marketing products and services.

The question is, will you be the one to step forward and take the lead on this new way to target your market? Or will you wait until it has been tried and tested?