OURA is a smart ring company originating from Finland that is used to track an individual's health metrics. The ring is compact, discreet, and "99% accurate in reading users heart rates, 98% accurate in heart rate variability accuracy, 92% accurate on body temp levels, and 72% accurate on sleep tracking," according to market research. Currently, OURA Ring 4's biggest competitor is Apple's Apple Watch. OURA separates itself from other smart technology brands in two main avenues: its sleek and innocuous design, as well as its ability to pair with the Apple Watch, appealing to those who have already invested in the competitor product.
OURA presents itself as a product for people of all ages and levels of physical prowess. Whereas competitors are marketed as fitness devices, OURA showcases a holistic way of tracking health. This is an effective image, as many who are interested in health metrics might not invest in a product geared towards athletes. Additionally, OURA's variety of aesthetics (silver, black, Stealth, gold, rose gold, and brushed silver) adds to its low-key appearance that works for people unable or unwilling to wear a bulky, smart-screen watch.
We are striving to inspire consumers to take their health into their own hands with OURA.
According to data pulled from OURA's blog, the OURA Ring serves "all genders, ages <25 to 65+, and almost all regions of the world." They are careful not to gear anything to a narrow audience. The big grievance consumers share about OURA is the price, which is comprable or more expensive than competitors. Therefore, customer testimonies are key when it comes to marketing the ring.
Most testimonies already featured include people eager to improve their health on a holistic level as opposed to a targeted fitness approach. Many articles on OURA's site feature people speaking about improving their immune systems, sleep, and heart health. Our target audience, therefore, will be people investing in things that improve their general wellbeing.
The thing that sets OURA apart is its sleep tracking. People don't wear the Apple Watch to bed, but the small, sleek ring does little to disturb slumber. Sleep is the most one of the most important aspects of one's health, and improves a person holistically.
"The target market for this product will be people who need a good night’s rest. This includes professionals (i.e. doctors/lawyers/etc.), parents, athletes, performers, etc. It can also be marketed to an older demographic (i.e. people who suffer from sleep apnea/insomnia) so they can easily track their sleep. It’s 79% accuracy rating when it comes to tracking sleep, which almost matches a clinical polysomnography (83%)."
Sleep is the time where your body heals and resets, so it's important that it's quality.
In this stressful, fast-paced world, a good night's rest is more crucial than ever.
Using this information, OURA should place more emphasis on its sleep-tracking technology. Television commercials and social media advertising should feature people from all walks of life who share one common interest: getting a good night's rest. This should allow them to rise above competitors, as sleep and fitness are two different markets.
Our message can reach audiences by endorsement, customer review, and social media presence. As the younger generation becomes more and more interested in improving their health, a product like OURA Ring 4 will be highly desired.
Credits:
Created with images by • Marius Igas - Close up of a green leaf. Macro Photography • srckomkrit - macro shot of black leaves texture