Apple Watch. FitBit. Headspace. Calm. Goat Yoga.
Everywhere you look these days there’s something wellness-related trying to grab your attention. Be it an app, a wearable device, or a hip new trend, wellness is definitely a consumer priority right now. (Hey, we’ll admit that the goat yoga thing sounded interesting to us…)
In fact, The Global Wellness Institute reported last year that the wellness industry was worth $4.2 trillion and that the wellness economy had doubled the rate of growth of the general global economy, year over year. Those are some pretty compelling statistics.
Which is why we had to sit down with our friend Jeremiah Owyang, the co-founder of Kaleido Insights, a seemingly clairvoyant predictor of global trends, and pick his brain about where the booming wellness tech industry is headed next.
Let the Data Lead the Way to More Opportunities
Jeremiah identified four key areas with the biggest growth potential in wellness right now; mind management, physical body, community, and physical space. But the opportunities that exist there are not just for the tech innovators and creatives who are building out the next wave of devices, apps, or services to meet the growing demand for personal wellness. With new data gathering and analysis tech trends popping up by the minute, the real opportunity for anyone who’s marketing to humans (which is to say, “all of us”), is to look at the data and respond accordingly.
Jeremiah points out the impact that technology, and social media in particular in its most common uses, is having on people. “Tech anxiety” is, ironically, something many emerging tech companies are looking to help eliminate with apps like Calm or Headspace for meditation, or the Screen Time tracker Apple recently added to the iPhone. Solutions like these are being introduced – and are growing in popularity at such a rapid pace – because the companies creating them are listening to the desires of their consumers.
The Case for Friendlier Marketing
The other, perhaps more exciting, opportunity this all presents is the potential to market differently. When data exists that supports a marketwide desire to live well, be present, experience great health, etc. it creates an opportunity for us to be more thoughtful with our messaging and communications to support those mass consumer desires. Jeremiah says that companies that continue to rely on clickbait or sensational, fear-based tactics to get people’s attention – strategies that tend to ratchet up anxiety – could see a decline in market share as their audiences in increasing numbers choose to instead move more towards the companies that support their personal values and desires.
So how can you use this new insight to impact your business? We’d encourage you to let it expand your mind about the possibilities that exist when it comes to how you connect with your audience. Creating campaigns that offer real value and enhance the lives of your audience members is a great place to start.