Be prepared for wearables to take on a bigger role in the advertising business and with consumers. That's why agencies such as Mindshare are devoting significant resources to this emerging market, via partnerships with companies like Apple as well as through internal research. "We are looking at how consumers are receptive to messages on wearables, what type of data we can secure from them, how can we provide a relevant experience, and what do we need to do for future products and platforms," says Jeff Malmad, Managing Director and Head of Mobile and Life+ at Mindshare North America, in this interview with Beet.TV.
Mindshare is working with Under Armour on the Apple Watch, rolling out in retail stores this week, as an example. "The Apple Watch is about an experience, not an ad. It's about location, context, wearables and sensors," he says, in identifying the value of this new product. The fact that it comes from Apple will also help move the market for wearables, he adds. Initially, Malmad expects health and fitness marketers to be the pioneers in wearables but then predicts the opportunities will expand to other marketers.
At Cannes, Mindshare's wearable tech unit will be conducting some research on wearables as it aims to learn and to teach clients how to leverage this new platform. Malmad it also is keen on the beacon marketplace as a way to reach consumers. Push notifications to wearable watches about rebates, for instance, are a means to grow the marketplace. Caution is important though. "We don't want to overindulge," he says.
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