Making it Wearable Doesn’t Make it Valuable

The Internet of Things (IoT) has gone from theoretical hype to a burgeoning industry that is poised for rapid growth. This is largely because we’ve gotten past that early ideation phase where everyone tries to make everything about IoT. Throw all ideas at the wall and see what sticks.

What stuck where those solutions that deliver great value with a solid Return On Investment (ROI). From streamlining insurance claims to detecting natural disasters, I’ve never been more optimistic about IoT based on how it’s being leveraged today.

IoT’s corresponding industry, wearable technology, is still in that ideation phase, however. Various vendors are jumping on the hottest new trend with a wide variety of approaches. Sadly, it’s mostly about what a company can produce right now versus what customers actually want and need. Few solutions have focused on the value sell yet.

Take Apple Watch, for example. It has been somewhat successful with gadget geeks and Mac fans, who tend to buy nearly any product Apple puts out anyway. But it hasn’t been a runaway success like previous Apple products.

Google Glass was another promising technology that failed to catch on with a critical mass. Again, gadget collectors and hard-core tech fans, but few buyers beyond that.

Perhaps the lackluster reception to Apple Watch and Google Glass is all part of the ‘bleeding edge’ innovation process. Still, I’d suggest the Wearables industry learn from IoT and focus on delivering ROI for its customer base.

That begins with a customer-centric approach. Wearable vendors should ask several critical questions in order to develop solutions that deliver customer value.

What Information Do I Really Need?

It’s not about what information a vendor can offer. It’s about what customers really want. Just because a company can push every email, weather update and Facebook notification to a Wearable doesn’t mean it should.

In fact, our analyst Anne Moxie was using a smart watch for fitness, but got bored and stopped wearing it. Me too. Steps walked, distance run, even vertical feet skied are fine, but I already have that all on my phone. Wearables should not be a mere extension of our smart phones. They need to find their own purpose with unique information that customers will value. 

How Do I Want to Access that Data?

Do I want a large, touch-enable screen that can deliver a rich set of data or a small screen that delivers limited, but critical information? Or no screen at all? Are we ready for voice-enabled solutions? Is a wearable really the best way to deliver the information?

Again this shouldn’t be about what a company can already deliver and more about innovating new ways to deliver what customers want, how they want it.

Is This Socially Acceptable?

We forget that Wearables blend technology with fashion. And fashion is about individual expression. So even if a Wearable is cool from a technological perspective, will people actually want to wear it?

Smart watches, for example, look fine, but can really disrupt a conversation. Where people will put away a smart phone during an important meeting, there is something about the watch that compels them to look. That innocent glance at email can easily be perceived as disinterest. Perhaps you have someplace better to be?

The fashion industry seems to do a great deal of research to understand the consumer pulse. Perhaps Wearables should tap into that.

In the end, it’s all about value. Until the Wearables industry focuses on what customers want, it will continue to spin in the hype cycle. Which would be a shame, given the potential it has, especially combined with IoT.