Doing business is no longer about selling and making a profit. Today’s always-on, digitally-savvy customers call the shots and define how they want to interact with brands. Aggressive marketing tactics are a sure way of driving customers away, but engaging with them where they want and when they want will help drive engagement.
Customers demand value and personal experiences, and to their credit, enterprises are going above and beyond in engaging them, while building long-term relationships. Today, brands are actively utilizing micro-moments to position themselves positively in the customer’s psyche, subtly nudging them to engage and eventually contribute to the bottom line.
These micro-moments or high-intent touchpoints, where customers want an immediate need addressed, undoubtedly offer endless opportunities to win a customer’s heart, mind, and wallet. For instance, while booking airline tickets on a travel aggregator website, you may have received an email or a pop-up from a hotel chain saying, “We noticed you booked tickets from destination A to B, and we have some excellent offers to make your stay at destination B more comfortable.” THIS is the micro-moment that the hotel company is engaging in to sell and nudging you into making a purchase with a personalized offer. Staying a step ahead of customer wants and anticipating their desires is where micro-moments cut the clutter.
Using Micro-Moments to Boost Customer Loyalty and Revenue
Creating multiple “aha!” Moments, delighting customers when they least expect, is a proven way to ensure they willingly repeat the behavior, even when the trigger is absent. Here’s an example: when my family and I were affected by Covid-19, we used a leading food-delivery app to place a priority “Covid-19 emergency” order while in quarantine. Not only did the order arrive in record time, but it was also followed by an aptly-worded email from their CEO with a get well soon message. Rest assured, I am their customer for life. This, to my mind, is an excellent use of a micro-moment to build customer loyalty. And given how the pandemic is changing customer behavior, it presents many such unique opportunities for companies to shape the shift and maximise mindshare for their brand in the new normal.
Besides, using strategic messaging and offers to monetise customer transactions are emerging as an excellent, non-intrusive way to expand revenues. For example, when a telecom company offers a customer a cheaper international calling pack after observing that she makes multiple international calls in a week, they are utilizing the opportunity to upsell and monetise the micro-moment. If the customer buys the pack, three things are guaranteed: one, the company sells an add-on to the base product; two, they increase customer satisfaction by offering cheaper calls; and three, because the customer now has an international calling pack, they are bound to use it and may even increase the number of calls they make. All in all, identifying the micro-moment significantly and positively impacts the telecom company’s revenue.
Why Micro-Moment Engagement Will Emerge as the Preferred Way to Sell
The Covid-19 pandemic has upended our lives in ways, and we are witnessing a significant evolution and altering (sometimes permanent) of customer behavior. There is a far higher rate of digital engagement, and brands’ ability to leverage this evolution is critical to sustained, long-term growth. Engaging in micro-moment marketing is one definitive way to make that shift. Brands that reinforce positive feelings, shape and support new habits with contextualised cues and personalized offers, align key messages to customer desires, and use technology to analyze customer behavior at a granular level, are the ones that will rule the roost.
What’s fascinating and works in its favor is that while micro-moment marketing aims at instant gratification, it is non-intrusive and non-pushy. Typically, interactions related to monetisation are push-based and hinged on getting customer attention by exposing them to a slew of messages for your product or service. More often than we realise, it is a sure way to “push” the customer away with constant and intrusive messaging. How many irrelevant promotional emails do you delete from your inbox every day? On the other hand, micro-moment marketing seeks to gratify an already existing need of the customer and has a significantly higher chance of being utilised.
To maximise on this opportunity, it is crucial to have the technology and systems in place that help you pivot from the traditional, linear sales funnel and use millions of such micro-moments generated every day to present relevant content. As more and more customers adopt the mobile-first approach, they leave behind a massive digital footprint and tons of data on their needs, wants, and preferences. This data, if mined accurately, with the right tools, will help businesses make hyper-personalized offers and stay on top of their game.
Monetising such intent-rich moments is a sure way to satisfy a customer’s immediate need, show value, and build empathy, revenue, and your brand. It propagates an outside-in approach to sales and marketing, invokes a deeper understanding of the customer journey, and makes it essential to listen to them.
Micro-moments as a theme have existed throughout. What makes it more relevant today is the opportunity presented by customers who now demand more and more digital interactions. Businesses that recognise this trend, tap into this permanent change in customer behavior, and interact with them to address their need on their preferred channel with a consultative approach are bound to remain competitive in years to come.
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