Seize the moment is a series that captures mobile marketing strategies for brands to win consumer moments on mobile
More than anything else, marketers have always wanted to reach and influence consumers at the golden moments that most impact their decisions. Various ‘Moment of Truth (MOT)’ models over the years, such as First (FMOT), Second (SMOT), and Zero Moments of Truth (ZMOT) have helped marketers with the when and where of product placements, and attempted to map those seemingly elusive Moments of Maximum Opportunity (MOMO). However, they are still far from ‘Marketing in the Moment’, the utopian state of complete consumer understanding.
True Moment Marketing requires seamless access to many more consumer moments across online and offline channels in order to construct personalized dynamic consumer life maps of experiences and emotions. However, consumer understanding today is based on a few consumer interaction data points that are typically marketer-induced, and thus have inherent systemic bias. These Moments of Truth are constrained only to moments that have relevance for the marketer, and are not reflective of the complete consumer experience profile, presenting a huge gap in terms of consumer understanding. While this gap is a comprehensive topic in itself that isn’t the main focus of this piece, Moment Marketing is an unsolved problem that brands need to think about solving. Looking beyond existing models is a great way to start.
Brands have always sought these consumer touch points and have modeled them around a metaphorical funnel. However, this model is long dead. Real consumer decision-making does not follow a linear path from one touch point to the other. Instead, it is a complex journey where various touch points are interconnected.
The consumer can start her journey from any point and exit at any other. This paradigm shift in consumer behavior is attributed to the information glut available to consumers today. It marks the dawn of the post-Akerlof world where the traditional information asymmetry ceases to exist. With the power of information, the always-on consumer of today exhibits a calculated thought process in her purchase journey, however small the length of that journey or the size of the ticket may be. This complex purchase and decision process may be intuitive to her, but is complex for marketers to decode.
Most of the complexity stems from the advent of digital channels. While consumers have already plugged these into their purchase strategy, marketers are still grappling with how to best integrate digital in their marketing strategy. Winning the highest share in media consumption, mobile is the ubiquitous and highly personalized channel that can provide marketers access to the most as well as new consumer moments. For starters, Brands need to be present during these moments. Remember Woody Allen’s adage “80% of success is just showing up”?
It isn’t enough. Brands need to ask themselves how ‘effective’ their presence is during every moment that they get with the consumer and not just if they are merely ‘reaching’ their audience in those moments. In the battle for consumer moments, it is imperative to capitalize on every opportunity. Brands must make the shift from being present to winning consumer moments, and can do so by crafting a consumer-first strategy, and aligning their execution to always be “outcome first”.
Merely making an honorary presence is plain insufficient - marketing budgets must efficiently drive the consumer to a marketing outcome. Irrespective of the consumer touch point, marketers must start looking at brand objectives through a ‘performance lens’ and think about how they can drive outcomes with utmost ‘surety’. That said, market solutions today can at best only try to increase the chances of consumer engagements. Most mega brands are already on top of the mobile ad-tech curve in terms of audience solutions and riveting creative solutions with contextual relevance to entice consumers towards engagements and outcome. As such, marketers have learnt to be content with hoping for an outcome.
Not anymore. In a first, InMobi has developed the technology to actually guarantee outcomes. You read that right! Using advanced machine learning algorithms, InMobi has taken the uncertainty out of mobile marketing campaigns. Be it consumer engagements, lead-generations, getting store directions, or visiting advertiser websites – marketers’ intended outcomes or KPIs can now be simply bought off-the-shelf.
InMobi Guaranteed Outcomes is a real-time decision engine where each ad-impression is based on an individual decision to spend or not spend, fuelled by our predictive sciences. Advertisers can rest assured that their spend is working harder towards meeting their KPI goals, not just showing an impression. Spillage is greatly reduced.
Similar models mitigate risk via a make-good or a payback in case a KPI was not met. But the marketer still loses an opportune moment and bears the opportunity cost. InMobi Guaranteed Outcomes offers downside risk mitigation for the advertiser via cutting-edge technology, making sure the KPI goal is met in the first place – and not simply a make-good in case of probable failure.
Interested in InMobi Guaranteed Outcomes? Get in touch with your local InMobi representative or simply write to us at firstname.lastname@example.org to know more.