What are Micro-Moments?
Today’s consumer has shifted their buying behavior drastically in the last five years. The proliferation of Smart phones has caused buyers to depend on the information on their smart phone during the purchasing cycle. We have been aware for quite some time that consumers are evaluating businesses on the internet before beginning any conversation with a sales person; however cell phones are now shifting a buyer’s online focus to the point of sale.
The result of that behavior is leading to a new type of advertising on mobile phones involving small sound bites of information designed to sway buyers during their purchase. This type of advertising has been termed ‘micro-moments’. The focus is on the buyer’s current needs and wants in the moment, and seeks to provide information to the buyer that will persuade them to buy!
It is no secret that buyers generally buy based on emotions rather than logic. They want the item so they will rationalize the purchase as being required, highly valued and improving their situation. Currently buyers will search on their mobile phones while in the store to gain additional information about the product. The information found there can potentially sway them to purchase a higher priced item over one they would normally not buy!
Online testimonials are another way of influencing a consumer during a purchase. Social media is particularly influential here as buyers frequently ask their friend’s recommendations before making a purchase. If their friends are buying this brand, it must be worth the extra cost!
Today’s consumers also have a tendency to start a sale purchase on one device and continue it later on another one. Consumers expect that experience to be seamless as well, in other words they expect to be able to accomplish a purchase on any device without difficulty. Consumer expectations are driving marketing trends to cater to the user’ every whim. The brands that ignore those trends will suffer in a loss of market share. As more emerging trends in technology become available, brands must adapt their marketing processes to include new trends in order to beat out their competition.