Introduction to Micro Moment
Hi everyone!
The Micro Moment.
Heard of it?
Are you doing what it takes in to win the Micro Moments That Matter?
You need to for your online business to succeed.
What is a Micro Moment?
Today, I will discuss with you about that, and Winning The Micro Moments That Matter!
Business 101 series
This is the 7th post of the Business 101 series. I created this series to help you learn how to start and grow and online business. As you can see, there will be more posts as listed below:
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Watch Video: Winning the Micro Moments That Matter
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Traditional Consumer Buying Journey
I am sure many of you are familiar with the traditional Consumer Buying Journey. But kindly allow me to explain it again.
First Step – Problem Recognition
The first step in the traditional consumer buying journey is Problem Recognition. This is when the consumer recognizes he/she needs something, has run out of something, or has an interest in something.
This need can be triggered by advertising.
The Second Step is Information Search.
Consumers will first search internally for information. They will consider brands that they remember, brands they have purchased in the past.
The options are quickly reduced. And most consumers usually make their choice based on past experience with the product or brand.
If the brand met their needs and the experience was good, it is very likely they will buy the same brand again. As such, brand awareness and brand equity are important.
A major objective is to build equity so that the company’s brand will be recalled during an internal search. The higher the level of brand equity, the more likely the brand will be purchased with little mental effort and no additional consideration of other brands.
If no preferred choice of brand during internal search, then the consumer will conduct an external search. Or it can happen when the consumer wants another alternative.
The external search for information normally occurs under three conditions. First, the consumer was not happy with the last purchase experience and wants another brand or product. Second, it is a high-involvement decision, and the consumer wants more information.
External information comes from many sources, including the following:
- Friends and relatives
- Other consumers
- Books, magazines, newspapers, and searches of the internet
- Advertisements
- In-store displays
- Salespeople
Third, it is a socially visible product, and the consumer wants to make sure others will approve or be impressed with the purchase decision.
The third stage of the consumer decision-making process is the evaluation of alternatives. This may take only a few minutes for low cost, low involvement decisions to several months for high involvement decisions.
After alternatives are evaluated, consumers will move to the next step, the purchase decision. While consumers will normally purchase the brand they intended to buy, sometimes in-store signage or deals will alter the purchase decision.
The 4th step is Purchase Decision. This is simply whether to buy or not to buy.
Then the 5th and last step is Postpurchase Evaluation. This is when the consumer wonders if he or she has made a good purchase choice?
Consumers will determine the level of satisfaction with the purchase, which will impact their next purchase decision for that product. Hence, the value of product is very important.
Consumer Buying Journey Has Changed
McKinsey proposed that the consumer buying journey has changed. It has evolved from linear to circular or cyclical.
Moment of Truth
What is the moment of truth?
It is the moment when consumer interacts with a brand, product or service. The consumer then forms or changes an impression about that particular brand, product or service.
1st moment of truth
The is when the consumer encounters brand, product or service. It can be offline or online.
The moment occurs within first 3 to 7 seconds. During this very short moment, marketers have opportunity to convert consumer to customer.
2nd moment of truth
This is when the consumer buys product. The consumer then experiences the product. The experiences include attributes like quality, brand promise, etc.
3rd moment of truth
This is when consumers give feedback or react towards a brand, product or service. When favourable, the consumer can become a brand advocate.
Consumers can also spread information about the product via word of mouth. This is also the moment when consumers share about the product on social media.
Zero Moment of Truth (ZMOT)
What is the zero moment of truth?
This is a term coined by Google in 2011.
Internet has changed how consumers interact with brands, products or services. It has especially impacted the online decision-making moment. People increasingly making decisions at the Zero Moment of Truth.
It is the precise moment when they have a need, intent or question. And they want it answered online.
The brand that answers these questions at right time wins. It can be a double win when the brand helps improve a consumer’s life, and gains competitive advantage over brands that don’t.
Rulebook changed … again
Just to let everyone know, the rulebook has changed … again.
There are more moments than ever. Search and Zero Moment of Truth continue to grow in importance and scale. And there are more moments because of the mobile phone.
Micro-Moments
What are Micro Moments?
Micro moments are taking over consumer journey.
In recent years, consumers are bombarded by content such as ads, offers, emails, push notifications and more. It has reached a point where many people cannot process any more information. And this has created a new type of consumer behaviour.
It is the Micro-Moment.
Micro-Moment occurs when people reflexively turn to a device for information, or to act on decision made. Usually, the device is a smartphone.
The consumer needs to act on a need to learn something, do something, get to know something or buy something. For example, I want to know moment, I want to go moment, I want to do moment, I want to buy moment
- I want to know moment
- I want to go moment
- I want to do moment
- I want to buy moment
Google found that a person averages about 150 micro moments a day.
Micro Moments That Do Not Matter
What are the Micro Moments That Do Not Matter?
- Reading emails – This is when consumers are not interested in your product because they are more interested in the email received. But, at times, it can lead to a micro moment about your product if they read relevant information.
- Socializing on social media – This is when consumers are more interested in social activities, entertainment, etc.
- Gaming – This is when consumers are more interested in playing games.
The Micro Moments That Matter
These are the micro moments that matter:
- I want to know moment
- I want to go moment
- I want to do moment
- I want to buy moment
You must win these micro moments by being there when the consumers have any of them. For example, when they need information in the I Want to Know moment, you are there to provide the information.
The consumers search on search engines to look for information about a particular problem they need solved.
You must be there at that micro moment. Have your website or web page on 1st Pages of search results. Or doing search ads.
Another example is to be on social media and have strong presence. Be an option of their choice when they have a I Want to Buy moment. You can do online ads or webinars on Facebook or Instagram to capture your audience.
Basically, you must be there at that micro moment to win.
One of the key tools you will need to win is to have excellent education and tools. Go to the box below and click on the button to get the Free Training now!
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Winning the Micro Moments That Matter
Timotheus Final Word
I hope you enjoyed this post.
Do let me know in the comments what you think of Winning The Micro Moments That Matter.
After this video, I will start the Digital Marketing 101 series. I will share about SEO, social media marketing, email marketing, content marketing, and more
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Timotheus
Your Online Business Coach