The wearable market is ever-evolving. Since the time the first Apple Watch made its debut, the sales of wearable technology incredibly skyrocketed and went through the path of continued growth.
Alone in 2018, more than 172 million devices were shipped. And these numbers just kept on increasing as we moved into the future. It recommended that Wearable technology has quite an impact on the digital stratosphere and is widely getting adopted by some of the major players around the world. With the tech behind these wearables becoming quite common, we are seeing a surge in its use-cases and what not. As the traction grows, we all wonder how one can benefit from this boom?
Today I am going to discuss 5 ways how entrepreneurs and businesses can leverage the growing market of wearables and extract the best results without experiencing any hassles.
So without further adieu, let’s check them out.
Time to Give up on the Smart Watches
One in every 3rd wearable sold in the market is a smartwatch. Why are smartwatches the real deal? That’s because big technology giants like Apple & Google have invested a lot of budget in bringing these smartwatches to the table for businesses around the world. They have invested a great deal of time in optimizing various features of the smartwatch and optimized them to deliver the best user experience to their fan club. Because of their loyalty, the fans have entrusted them with the purchase.
If you’re planning to invest in wearables, don’t go for the same tactic because the competition is tough. Instead, choose a different approach by going granular. For example, Myia, a health technology company has designed wearables that when worn by the patient can help them monitor heart rate.
The more specific you get with your invention the better is your chance to score big in the market.
See What Customers Are Seeking
Right now, we have the pandemic of COVID-19 impacting our lives and the lives of others who surround us. Now, here’s a solid need which can help people gain an extra edge. People are in dire need of solutions that can help them stay safe from the pandemic. Imagine getting a wearable device that helps you identify that a particular area is quarantined. For example, the smartwatch turns red and starts sending alarm beeps when you walk into a particularly sealed area because of the COVID19
Such applications can help people stay safe from getting infected and help customers get through.
You can think of thousands of other ways to see what customers are seeking & how you can help.
Create a Wearable that Creates a Sense of Community
Every wearable product right now that’s aggressively being marketed as a perfect community built around its respective gadget. Take almost any kind of smartwatch that you believe holds the potential.
For example, Fitbit’s has a separate fan following of its own which largely surrounds people from all walks of life. People who are conscious about their health & weight are the most common users of this particular type of wearable and are found aggressively purchasing this product massively.
Hence, it has the perfect community built around it.
When you are planning to invest so you can step down in the wearable market, don’t forget to make due investments in cultivating a community around your wearable product. It’s the only way your wearable is going to survive and see the light of success once it is deployed in the market.
When Crafting Wearables Consider the Children
It’s because wearables become quite the trend among your wearers, which makes it a solid pick for parents and children alike. For example, take the Owlet Smart Sock, here’s a baby monitoring device that can easily wrap around a child’s foot, and whenever the wearer’s heart rhythm changes or oxygen level drops, the Smart Sock beeps an alarm. Now imagine creating a wearable that will allow parents to track feeding patterns, how frequently the child needs to visit the loo or wearable that notifies parents or teachers when a child leaves a specifically defined boundary?
Imagine the possibilities that you can create with a single wearable.
Now apply them far and wide across many other platforms to see which can work in your favor.
So there you go, here are some of the best ways I believe wearables can assist you in the market.
Are you still eager to find out ways in which wearables can benefit you?
Do share your findings with us because we are equally interested and eager to learn.