As a digital marketer, I am sure you want to be at the forefront of changing technology.
As technologies evolve, new opportunities and challenges arise which also change the way we interact with our audience.
Are you ready to seize the next wave of digital marketing?
Here’s your in-depth guide to what’s coming your way next.
An Emerging Trend of Advertisement In Digital Marketing –
A new trend has emerged with the introduction of wearable devices. Apart from being in trend, wearable devices find utility in daily life activities.
Smartwatches, the latest addition to the wearable industry, serve as versatile gadgets, allowing you to track your fitness activities and conveniently manage calls and messages from your wrist.
The projections for growth of the global smartwatch market indicate a market of $58.21 billion by 2028 and a remarkable CAGR of 14.9% in the 2021-2028 period, according to Fortune Business.
Number of smartwatches worldwide from 2018 to 2027 (in millions)
The data gives us an idea of the growth of this ever-increasing smart watches market which has a lot of untapped potential in the realm of advertising. It opens new avenues for digital marketers. In this blog, we will discuss what brands are already doing as well as ideas of what can be done.
Change in digital advertisements landscape –
Online advertisements focus on a specific group of people who can be potential clients, whereas print advertisements aim to reach the general masses. As a result, online ads are more effective as they can tailor the message directly to the eligible audience, while print ads might not connect as strongly with the broader population.
In 2022, the digital advertising revenue of India reached an impressive Rs. 499 billion. Also, according to a report, digital advertisements spending in India is likely to reach $21 billion by 2028.
Digital Advertising Revenue in India from 2018 to 2022, with a forecast until 2025
Source – www.statista.com
On the other hand, the revenue earned from print advertising across India in 2022 was more than 170 billion Indian rupees.
The above smartwatch statistics confirm the shift from print ads to digital advertisements. Therefore, it is important to adapt accordingly if we want our brands to reach the target audience.
No smartphones needed
With new smartwatches like Galaxy Watch LTE, you do not need to be connected to your phone to receive texts, calls, and notifications. From an advertising point of view, it means marketers have to shift their focus to creating advertisements for smartwatches as well
Let’s take an example.
You read about a financial scam in the newspaper one morning and went outside for a run wondering about your account safety. Then your wrist vibrates and you see a push notification from your bank reassuring you with their safety features.
This instant addressing of pain points of the smartwatch users without having to check the phone provides direct interaction with the customers.
WHATSAPP ON SMARTWATCHES –
User’s now no longer have to switch between their phone and their smartwatches to use WhatsApp.
Users with Google’s Wear OS watches can now receive messages, and make calls directly from their wrists even without their phone connection. They provide greater flexibility and freedom for users on the go.
They can be used to send direct personalized texts from brands as targeted marketing strategy.
Send personalized messages to their smartwatches via WhatsApp Marketing
Money Transactions via Smartwatches –
A simple tap on your smartwatch can complete a transaction. This quick, safe, and less time-consuming way of payment can make consumers make small impulsive purchases for low-cost items. If e-commerce websites are optimized for smartwatches, they can drive more sales.
If sent a push notification to users smartwatches for a 5% discount on a product already in their cart, they are likely to make the purchase.
The data can be tracked by digital marketers to analyze the success of their campaigns.
Easy transactions on Smartwatches
Personalized advertising –
1.Health Industry and Wearable devices –
Smartwatches are fitness companions which can record heartbeat, sleep pattern, calories burned, and much more.
This personal data collected can be used for targeted marketing.
Though smartwatches cannot directly measure blood glucose levels, patients can still use them to record their data. If that person is traveling somewhere, getting advertisements for sugar-free food nearby would be very relevant to them. Hence, also the chances of converting them into clients.
Body trackers on smartwatches
It continuously monitors heartbeats.
Tracking the menstrual cycle of women can help in targeted advertising in different stages of the cycle. For example, sending a push notification of a bakery near them during the luteal phase, or a gynecologist clinic near their location in case of hormonal disbalance.
Apart from health, other industries can also use the data to market their products.
Collects crucial data for Targeted Advertisments
A prolonged disturbed sleep pattern can send the data to a mattress company which can then use the information to address the pain point of the user. They can send a push up notification of good quality mattresses that they offer.
Advertisement notifications can be sent by guided meditation apps nearby using location-based marketing. guided meditation apps when smartwatches record high-stress levels.
Remember not to be too intrusive. The user might get frustrated and completely ban your advertisements from their smartwatches.
2.Sports Marketing and Wearable devices-
Fitness trackers in smart watches provide a large amount of data. Sports companies like Nike have come up with apps that can record data of people’s daily workouts and share it with their friends.
It can have another usage as well. If someone has recorded a target of running, say 10 km every week. But they are unable to reach their target even after 3 weeks. This app which has recorded their birthday can send an advertisement of newly launched sports shoes that promises to be performance enhancing and can be sent on their friend’s smartwatch with whom they share their daily running data. This can be a nudge for the friend to buy those shoes as a gift.
This type of targeted advertising makes sure the advertisements reach the right audience at the right time.
PROBLEMS WITH SMARTWATCHES ADVERTISEMENTS –
1.Personalization-privacy paradox –
Though customers want to receive advertisements that are relevant to them according to their needs and situations. But the advertisements cannot be too invasive.
For example, if the user recorded weight on the watch, a targeted advertisement for a “loss weight program” would only irritate the user.
Whereas an advertisement suggesting pre-ordering dinner while stuck in traffic would be considered life-saving.
2.Small screens – As advertisements and content creators have adapted to shorter attention spans, we need to adapt further.
With smaller screens of smartwatches, advertisements have smaller spaces to grab the attention of the wearer. Also, they glance at the watches for a lesser time as compared to mobile phones.
CONCLUSION –
The rapidly growing market of smartwatches and an increasing consumer base present digital marketers with new advertising opportunities. Smartwatches can provide a personalized experience for users, and also change how digital marketing works. With a more targeted approach to advertisements, brands can build closer relations with users. But in all this, the users’ privacy must be respected. With more focus on users’ instant needs, smartwatches can change the way of advertisements forever.