The rise of wearable technology is another opportunity for brands has to learn and cater more to consumers. The smarter the technology the better means the great the opportunity that brands have. Smart watches, wireless earphones, eye-glasses and other thing, like smart shoes, that are still in tech labs cooking have the ability to provide a ton of big data so that brands can continue to refine themselves to match consumers ever changing needs and wants.
Gone was the time when one has to make a hard choice between functionality and fashion. The rapid development of technology has open many doors where fashion marvelously blends into functionality. The current market offers various choices for fashionable accessories both in terms of styles and performance that are suitable for most situations and events.
We’re finally seeing an explosion of these devices on the market. It’s the reason Google has poured millions into an improbable set of eyeglasses, why Samsung has unveiled a companion watch for its smartphones, and why Apple is has done the same. It’s the reason tiny companies banked thousands of pre-orders last year for smart watches, gesture-controlled armbands, transmitting rings, notification bracelets, and more. A new device revolution is at hand: Just as mobile phones and tablets displaced the once-dominant PC, so wearable devices are poised to push smartphones aside.
The Opportunity for Advertisers:
Wearable technology presents advertisers with two opportunities. The first is the outpouring of new data about consumers based on their use. One of the big questions on the table for brand marketers is what to do with Big Data. The presumption is that more data means better marketing, but finding the path from more to better is the challenge at hand.
A big part of this challenge is that the flood of data is misunderstood. The term itself, Big Data, focuses brand marketers on the amount of data, an orientation reinforced by info graphic hyperbole about the supernova of bits and bytes sweeping through the brand marketing galaxy. But more data matters only if it’s better.
Getting something better from Big Data goes beyond the data itself. In fact, it depends mostly on the ways in which data are analyzed. What the Big Data revolution has stirred up is less about amount and more about analytics, but this is not something that comes naturally to most brand marketers.