While Wearables and IOT are taking the world by storm, the
advertising industry, particularly in the region, is holding back to see where
its headed. And that’s no surprise
because every one is waiting to see if this is going to be yet another game
changer for the industry like mobile was, and still is.
Wearables and IOT – for both the consumer and the marketer
is really about “discovery”. While consumers will take to it much faster than
advertisers and media planners, investment in this platform will depend on what
that “discovery” factor pans out to be. Just how much data, how much insight
can come out of these devices, and how much can marketers push through to them
for the consumer to discover. The Wearable and IOT marketing platform somehow
looks set to become an exchange. It’s a two way information microhighway being
built out there.
This information will really be about behavior and
targeting. And because location based is almost a given in this genre,
targeting becomes easy and real-time marketing becomes both measurable and
simple. It will be a heady mix of qualitative data (from the consumer’s
devices) towards creating quantifiable results. The holy grail of what our
industry is about.
Aside from the massive impact it may have on health
marketing (and that’s a huge industry-within-industry in marketing), one can
foresee everyday brands relish the possibilities as well. When your fridge
alerts your watch (IOT & Wearable in synergy) that you are out of milk, why
can’t your nearest supermarket send you an ad for milk, or the milk brand
itself inform you of choices between full cream, low fat and skimmed?
Wearables have the inherent promise of super personalized,
in the here and now brand experiences that will add value to the consumer. And
that’s what the consumer wants – experience where the outcome is value. The
possibilities of wearables and psychology based marketing triggers that respond
to your mood, your state of mind, your daily patterns is going to open doors to
highly customized messaging. So, yes, it will be all about data and the
exchange of it.
The possibilities are mind boggling. Can an insurance brand
send you messages of lowered premiums because the IOT in your car can sense
that you are a safe driver. Or a better health insurance rate because they know
you’ve been working out five days a week by evaluating data from your wristband
or watch?
Then of course, there are these ideas of driving ads and
messages, and even full-on brand-immersed experiences through to those screens
on your smartwatch. Will tiny branded seven second vides be cool on your
smartwatch? Along with a map of the nearest brick-and-mortar retail outlet? And
a coupon to boot? Because these gadgets mostly all have Location-based
marketing possibilities, instant discounting, multi-screen marketing (where the
watch and mobile will let you jump from one screen to another) and intent or
interest based messaging becomes exciting.
Here in the Middle East, we have a high penetration of
smartphones, in fact, the UAE has the highest in the world. Data is becoming
cheaper, and we can assume that mobile solutions providers will bundle data
with devices as they emerge. This will certainly help real time marketing
efforts and should change media planning in the very near future. Once the Apple Watch appears on wrists and
the several other devices on Android mature, we are likely to see increased
investments on these channels of communications and them emerging from under
the rock called niche.
Brands need to be consistent across the various always-on
platforms with their messaging, their look and feel of communications and be
careful with the consumers concerns on privacy and intrusion. But I’m willing to bet that we’ll see
standardized ad formats appear soon (like TapSense already is projecting in the
US for the Apple Watch) and that forward thinking brands will find exciting new
ways to reach out to the consumer and engage on the one device that is not just
always-on – both literally and physically. Even while one sleeps.
Here’s to marketing sweet dreams. And reality. Coming soon
to a gadget you are wearing.
Tom Roychoudhury is chief innovations officer of MCN: Middle
East Communications Network – one of the
largest groups of advertising, marketing, media and social agencies in the
region.
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