Insight Presentation: "What Wearables Mean For Marketers"
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Insight Presentation: "What Wearables Mean For Marketers"

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Insight Presentation: "What Wearables Mean For Marketers" Insight Presentation: "What Wearables Mean For Marketers" Presentation Transcript

  • What Wearables Mean For Marketers Sarah Rotman Epps, Senior Analyst Forrester Research October 22, 2013 @srepps
  • • What's hype and what's reality when it comes to wearables? • Where are wearables going next? • What do wearables mean for marketers?
  • MYTH #1: “WEARABLES ARE MAINSTREAM NOW.”
  • Reality: Wearables are still niche US online adults that currently wear a device to: Track performance in a specific sport: Track sleep quality: 5% 6% Track daily activity: 5% Get feedback on posture: 3% Base: 4,657 US online adults. Source: Forrester’s North American Technographics Consumer Technology Survey, Q1 2013
  • Percentage of US online adults willing to wear a sensor device from a brand they trust, offering a service that interests them: Base: 4,673 US online adults 18+ Source: Forrester’s North American Technographics Consumer Technology Survey, 2013
  • MYTH #2: “WEARABLES ARE GREAT FOR HEALTH TRACKING, BUT NOT MUCH ELSE.”
  • Reality: Consumers are interested in varied sensor scenarios US online adults that are interested in using a sensor device to: Get media recommendations based on your mood: 30% Track your child’s Unlock your car or house so you don’t have to carry keys: 44% activity: 29%
  • MYTH #3: “SMARTWATCHES WILL BE THE NEXT BIG THING.”
  • Reality: Smartwatches are over-hyped › Smartwatches have been around for more than a decade › Watches are a declining form factor, and smart ones do too much and too little at the same time › Pebble shows the flaws of associating Kickstarter success with broader appeal › Samsung’s Galaxy Gear will have few takers › But…a solid product from Apple could sell tens of millions © 2013 Forrester Research, Inc. Reproduction Prohibited 10
  • Where wearables go wrong Hierarchy of needs for wearables Not a need-to-have Aesthetic inflexibility Chart fatigue Limited battery; faulty hardware © 2013 Forrester Research, Inc. Reproduction Prohibited 11
  • As we solve these problems, wearable adoption will grow—how much is disputed © 2013 Forrester Research, Inc. Reproduction Prohibited 12
  • WHERE WILL WEARABLES GO NEXT?
  • More form factors Jennifer Darmour (@electricfoxy) © 2013 Forrester Research, Inc. Reproduction Prohibited 14
  • More use cases •Identity validation •Payments •Personal safety •Insurance © 2013 Forrester Research, Inc. Reproduction Prohibited •Productivity •Media interaction •Social networking •Navigation 15
  • More integration Jawbone UP app partners © 2013 Forrester Research, Inc. Reproduction Prohibited 16
  • WHAT DOES IT MEAN FOR YOU?
  • For marketers, wearables mean: • Data • Intimacy • Responsibility
  • Consumers want to interact with brands on (some) wearables, but they want utility, not advertising © 2013 Forrester Research, Inc. Reproduction Prohibited 19
  • What marketers should do now • Educate • Experiment • Partner
  • Sarah Rotman Epps srotman@forrester.com www.linkedin.com/in/srotman THANK YOU @srepps www.forrester.com