Wearable technology was one of the big topics at SXSW 2014. A lot of the panelists spoke about the importance of brands to deliver valuable & unique content and wearable technology will allow for that, although, brands will need to be careful not to overload fans/consumers with content.
Contextual interaction is one of the main drivers of wearable technology and brands will be able to differentiate themselves by the way they connect with consumers through story telling.
What can wearable technology do for brands?
It will help brands to become better story tellers and will give brands the opportunity to establish an emotional connection with consumers/fans by delivering a unique experience that wouldn’t be available otherwise (experiences money cannot buy).
It will allow brands to deliver valuable and exclusive content to fans; an example is the opportunity to experience a game/race through the eyes of the athlete/driver. Imagine being able to watch a play from the perspective of a player eyes? That would allow fans to have access to exclusive content and to “feel” what the players see it during the game. Or an actor can wear smart glasses and fans can see through their eyes what it is to be on set, filming or can “follow” them for a day in their ordinary life.
What can wearable technology do for consumers?
Wearable technology will allow consumers to cruise through a store, look at the product(s) and buy it just with a tap/command. These devices will also allow for consumers to have its locations tracked and to receive personalized offers (today, possible through beacon technology, which operates via Bluetooth low energy). Example of wearable devices: glasses, watches, rings, bracelets, etc.
How can wearable technology improve the healthcare industry?
Wearable technology will transform how healthcare providers and patients share information and make decisions about patient healthcare.
It can also help patients (specifically elderly as seeing at one of the sessions @ SXSW) better manage their medication schedule: a smart watch that helps patients keep track of when to take their medication and how to take it. The watch has also an emergency button that allows the person to call 911 in case something happens.
The future: Beacon, Wearable Technology & Augmented Reality
Beacon technology (low-cost piece of hardware that utilize Bluetooth low-energy – BLE- connections) will become the currency and when combined with wearable technology, it will deliver a customized experience to each individual.
People want to be part of the story and by combining beacon, wearable technology and augmented reality consumers will be able to interact with products and brands in a way it was never done before. They will be able to be part of the story and interact with the products/brands/scenarios, delivering a unique experience.
Sooner than we think, we will be able to unlock our cars, houses, and computers, purchase movie tickets out of a digital billboard on the street/mall by a wearable devices (rings, bracelets, watches) and adoption of these technologies will grow as it becomes more fashionable, convenient and utilitarian.