Marketing for wearable technology is no longer marketing solely to techies, Trekkies and sci-fi fanatics. However, the ambitious Google Glass seems to have shattered on the floor instead of the glass ceiling, so many are skeptical about optimizing their content for wearables and directing marketing dollars toward them. So before businesses allot precious marketing funds to wearable technology, here are some questions they need to consider:
3 Questions to Ask Before Marketing to Wearables
Does Anyone Wear Wearables?
We all remember Google Glass and also how quickly we wanted to forget it. Time Magazine touted it as one of the best inventions of the year, and fashion mogul Diane von Furstenberg wore the spectacles alongside dozens of models on her New York Fashion Week Runway. But for all this fanfare, Google Glass was met with resistance from everyone, ranging from public privacy advocates to legislators to Las Vegas casinos.
But that hasn’t stopped innovators or consumers from spending time and money on what many believe to be the next frontier of personal tech. Wearables are currently a $700 million industry that is projected to grow to 1.4 billion worldwide by 2016, according to Business 2 Community.
And there’s still room for innovation. Wearable technology hasn’t made a truly seamless transition into our daily lives, let alone the fashion industry, although it isn’t for a lack of trying. On September 9, 2015, Hermes, one of the leading fine apparel and accessories designers in the world, and Apple launched a collaboration collection of Apple Watches in Paris and San Francisco. These watches had stainless steel cases, leather bands and a price tag of just over $1,000. Their luxury-centric, yet minimalistic ad campaign was featured in Vogue, and the watches were gifted to supermodels as part of the marketing rollout. This combination of luxury and tech can be seen in many other companies as well.
Where Are the Customers?
One of the biggest impacts business owners see from the popularity of wearables is foot traffic because most users treat them as an extension of their smartphone. If businesses pair that with Google algorithm changes to favor local business searches, they’ve got a game-changer for local boutique malls and specialty stores this holiday season.
Who Is the Best Audience?
While many believe wearable tech to be universally applicable, it’s only financially viable to specific niche markets. The obvious example is the Fitbit. Even though studies show that a third of these fitness accessories are abandoned after six months, targeting customers who are willing to shell out a couple of hundred dollars for a fancy pedometer is invaluable to an array of businesses, from personal trainers to massage therapists to health food stores.
And at just $5 per month for 4G data capabilities on wearables that enable users to read texts, emails, and breaking news, millennials with high-tech or high-demand jobs, new parents and new city transplants are also emerging markets that have a need and the means for these devices.