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May 26, 2015

Marketers drop overhyped wearables for live-streaming apps

Live streaming apps such as Whatsapp, Meerkat, and Periscope found best for marketing investments.

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70% of marketers believe wearables and smart watches are overhyped and do not offer sufficient substance for investments.

The ‘Hype or Ripe’ survey also found that 36% think crypto-currencies like Bitcoin are overestimated.

Marketers said virtual reality (27%) and beacons (24%) cannot live up to expectations, while 20% do not believe in augmented reality.

Of the 100 surveyed, 19% intend to use live-streaming apps like Periscope and Meerkat in campaigns, with 28% marketers planning to use mobile messaging in 2015 via Facebook’s Whatsapp solution.

To choose marketing tools, 34% of respondents said they are influenced by their competition and 33% admitted to follow what bigger brands do.

51% of those surveyed said that they would need reassurances that new technology would generate results before investing. Almost two-fifths (37%) of marketers said a good gut feeling is important.

Marketers also said to regret (41%) investing in a new technology or platforms. 24% blamed this on low user adoption, 13% on poor business results, and 12% believe competition can offer a better choice.

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8% said wasting money and a lack of understanding about what they were getting in to (4%) led to disappointment.

Andreas Pouros, COO at Greenlight said: "It’s easy to be dazzled by the industry buzz around shiny new playthings like the Apple Watch or Oculus Rift, however our research suggests that marketers are increasingly reluctant to drink the kool-aid.

"Hardened by past mistakes, we are seeing marketers take a wait-and-see approach to new technologies and platforms before making an investment. The live-streaming market is a classic example. As the battle for market share between Meerkat and Periscope heats up, we could see some marketers get burnt if they back the wrong horse. As ways, our advice is to invest in technologies that are proven to deliver ROI."

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