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Micro-Moments and Mobile Payments : MoMa Trends: Mobile Payments

Blog: MoMa Trends: Mobile Payments

 

In April last year Google shared their research about micro-moments, new consumer behavior for marketers to learn and master. But what exactly are these micro-moments?

Currently we have countless mobile interactions, like whatsapping a friend, writing a quick work email while commuting home, or posting our latest holiday photos to Facebook. These types of moments are a common part of our lives, although they’re not moments when we’re necessarily looking to engage with brands. But in other moments, we’re very open to the influence of brands. These are the moments when we want help with our choices or making decisions. For marketers, these moments are an open invitation to engage and for which they have to be ready. Google calls these micro-moments. They’re the moments when we turn to a device—often a smartphone—to take action on whatever we need or want at that very moment. These I-want-to-know, I-want-to-go, I-want-to-buy, and I-want-to-do moments are loaded with intent, context, and immediacy.

Google’s research uncovers a fundamental change in the way people consume media: the old days of predictable, periodic media sessions have been replaced by numerous short bursts of digital activity throughout the day. This is a pretty groundbreaking change for advertisers. There are no longer just a few sporadic “a-ha!” moments of truth; now there are countless moments that matter and companies have to earn the customer’s consideration and action, moment after moment.

So how do companies win micro-moments? Here is a summary of the three essential strategies that Google puts together.

Be There

Anticipating the micro-moments for users and committing to being there to help when those moments occur. Being there across all stages of the consumer journey, not just when someone is ready to buy. To accomplish this, companies should consider four key moment types that represent the full range of user needs.

I-Want-to-Know Moments. Someone is exploring or researching, but not yet in purchase mode. They want useful information and maybe even inspiration, not the hard sell.

I-Want-to-Go Moments. People are looking for a local business or are considering buying a product at a local store. Being there means getting physical businesses in their mindset at that moment.

I-Want-to-Do Moments. These may come before or after the purchase. Either way, these are “how to” moments when people want help with getting things done or trying something new. Being there with the right content is key.

I-Want-to-Buy Moments. These are huge, of course. Someone is ready to make a purchase and may need help deciding what or how to buy. Companies can’t assume they’ll be looked up; they have to be there with the right information to seal the deal.

Be Useful

Companies need to do more than just show up, they need to be useful and meet the user’s’ needs at each of those moments, this is, connecting people to what they’re looking for in real time and providing relevant information when they need it.

Be Quick

“I want it NOW.” That sounds like something a toddler in the terrible twos would say, but it’s also what today’s consumers are saying. They want immediate gratification, and they’re making decisions faster than ever before. Companies mobile experience has to be fast and frictionless, eliminating steps, anticipating needs and loading like lighting.

One way of eliminating steps would be to implement one-click functionality. As an example, the American fashion retail company Rue La La recently realised that 40% of its revenue was coming from mobile (and Android users made up a growing portion of this base), so they added Google Wallet Instant Buy to their app to create a two click checkout experience.

Starbucks Mobile Payments App is also another great example, as its latest update included changes that removed lag time and steps in between during sale finalisation- currently 21% of the Seattle-based coffeehouse chain transactions in the US are made using mobile devices.

Google believe marketers should be focused on micro moments. The more the whole industry can infuse these moments with meaning for people, the more success that can be achieved together.



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Autor
Ainara Gonzalez Abaitua
Master in Digital Marketing
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