Micro moments are what savvy marketers are seeking to learn and master in understanding the consumer's path to purchase, according to research from Google. These micro moments exist in a series that together amount to the new reality of consumer behaviour.
The consumer's path to purchase has become increasingly fragmented as they utilise multiple touchpoints available to them on their mobiles; in conjunction with browsing the web on a different device. They interact in real time with an intent that could have formed from a previous micro moment or just arrived in their head as they checked out a social network. The path they take can be broken down into hundreds of real time micro moments; they can veer away from a chosen path at the last moment and go on a new path and make a purchase in seconds.
Consumers are having a conversation or a thought pops into their head and they act; phone is in hand and a search, review, email causes a micro moment to happen. They don’t have patience for irrelevant or poorly constructed marketing and can jump sideways in a second. If something works for them they immediately build a preference around the brand that engaged in the micro moment with the right quality and relevance.
Google’s research found
82% of smartphone users turn to their phone to influence a purchase decision while in store
62% of smartphone users turn to their phone to solve a problem or new task
90% of smartphone users use their phone to make progress towards a long term goal
91% of smartphone users turn to their phones for ideas whilst doing a task
The challenge for marketers is how to find and then align with all these micro moments and respond effectively; with quality and relevance. It is a massive task and one which is consuming the world’s largest technology providers. If a path to purchase is a series of potentially hundreds of micro moments then how do you find a moment, classify the moment and respond to the moment. If you can’t find them in real time then will your response be relevant or wanted? A brand that responds 3 days later with an email may well have missed the boat.
You need to find the micro moment in real time and that needs massive processing and scale; something which is achieved only with NLP and Machine Learning. If you can pinpoint and understand what is happening in a micro moment and respond with an appropriate and relevant marketing communication you build engagement and loyalty. In the micro moment you get the right message across then your response will be recommended to others.
At Chatterbox Labs our Path 2 Purchase product can identify pre-purchase intent in real time social data; we provide our partners with 3 categorisations of pre-purchase intent micro moments:
Interest – a consumer is showing interest, they may want to need a product
Consideration – a consumer is considering purchasing a product, they may be comparing multiple products
Lead Validation – a consumer has ‘currently’ made up their mind to buy a product
We let our partners work out the appropriate response to an interest micro moment or a lead validation micro moment. Getting that response right means more sales and revenue; and of course a happy customer!!
For more information please contact Andrew Watson, VP Strategic Alliances firstname.lastname@example.org or visit out web site www.chatterbox.co