Is your business involved in the wellness digital economy? If so, you are positioned for growth. If not? Well…with the current spotlight on this growing industry, you just might want to consider potential involvement.
Here’s Why It Matters
In recent months, more people have been working from home, experiencing unprecedented challenges, and turning to self-care. To do this, professionals are using digital wellness tools for self-care, socializing, and self-tracking.
The statistics are remarkable and even eye-popping. The global wellness economy is a $4.5 trillion market. It includes aspects of wellness that range from healthy eating to wellness tourism and beyond. Here are the highlights that may impact your business strategies.
Focusing On Wellness and Wellbeing
Wellness is all about cultivating an optimal state of health. This isn’t just getting a so-so ranking from your doctor or health practitioner. Wellness often shows up as a high value on physical health and the lifestyle that creates holistic health.
Well-being takes things to a higher level. Think of wellbeing as achieving the ultimate in health: body, mind, emotions, social interactions, and happiness.
Well-being is why people are turning to mindfulness, seeking coaching, and taking courses to learn wellness skills. As more people realize that they need skills of agility, balance, and happiness, new solutions are emerging.
Meditation Apps Are Mainstream
Years ago, meditation may have been a practice reserved for a select few. No more. Last year, the top 10 meditation apps generated $195 million. Some of the apps may be the most used and are already household names.
The question is, why are these apps so popular? Perhaps the simple answer is: people are searching for peace of mind. With daily changes in climate, social interactions, and lockdowns, our previous connections have been disrupted.
We’ve all heard about the ways we try to explain this in business. “New normal.” “Next to Normal.” “No normal.” These are terms that did not exist just a couple of years ago. Now, they are part of our common language.
Language matters. Words matter. As the statistics and spending habits show, people are searching for ways to relax and revitalize.
The Quest for Self-Tracking
Technology experts often refer to the value of data, specifically data acquired through self-tracking. Why is this so important? Simply, numbers paint a picture.
When you track your behaviors, it’s easier to see what is going on. You know that the data is real because you did the tracking. You know that the numbers don’t lie, because you captured the information.
In other words, when you see that you’re contributing to your wellness and wellbeing, you’re inspired to do more of what’s working.
Let’s take a simple example. Perhaps you know that you should drink more water. Many studies are pointing to the benefits of staying hydrated. Yet…many people fall short of the recommended amount.
You decide to do something about this. You start tracking the amount of water you drink. Oops. It’s not nearly up to the recommended amount. On a wellness impulse, you decide to go for it.
For a month, you find creative ways to track your water intake. After one month, you notice that you’ve lost weight, feel more energized, and aren’t as grumpy. All from a focus on self-tracking your water intake.
Do you believe you’ll keep going? No question.
As self-tracking and data gathering increase in popularity, it’s easy to see that this
can have profound impacts in the realm of holistic health. Plus, it can inspire innovation, new apps, and new strategies in alternative medicine businesses.
What It Means To Your Business
Are you involved in a business that supports consumer wellness and wellbeing? Are there opportunities to use marketing strategies to appeal to these growing interests?
While you are building your business, it helps to know what your prospects and customers are seeking. This is where you’ll use a customer data platform to understand the needs of your customers, build awareness, intensify the desire for your products and services, and refine offerings.
The right data is critical to understand what your customers are seeking. When you use data in the context of this global shift, you’ll be positioned to truly serve the holistic needs of your audience.
Founder Dinis Guarda
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