Micro Moments Create Macro Change
Micro moments are those times when consumers seek an answer and reflectively turn to a device - usually mobile - to get it. There are "I want to know" moments; "I want to discover" moments; "I want to buy" moments. Micro moments are also immediate gratification moments. Which can be a big disruption to bricks and mortar. There is a lot of marketing discussion about the consumer journey and micro moments along the path to conversion. The big question is: Where should brands be to leverage the right message at the right moment?Further, business models are evolving around the new consumer demand for immediate gratification. Take, for example, Amazon's purchase of Whole Foods. Amazon owns e-commerce. No more Saturday morning errands at half a dozen retailers to check off the monthly provisions list. A few brief minutes of click, click on your personal device and Voila! Next-day Amazon delivery.
But what if the micro moment necessitates same-day groceries, as in "I want to know what to cook tonight"? Amazon covers that in its acquisition of Whole Foods, which delivers a product for which humans will always have a need - groceries. If you want to look for more examples: Nike announced it will lay off two percent of its workforce. Its realignment will focus on a plan titled "Triple-Double," which outlines doubling innovation, speed and direct connections with consumers. We want more, faster. Other evidence this week: Panera to book more than $1B in digital sales in 2017 - digital orders are now 26% of the business. Because when consumers have a "I want to buy lunch" micro moment, Panera is there to fulfill. We met with an interesting retail tech solution this week, which is brilliantly leveraging micro moments. Its tech stack integrates with a retailer's inventory management system and dynamically creates micro sites for every single product in inventory, and includes a local geo-qualifier. In this way, the retailer owns local search for any particular product in inventory. To meet a consumer's "I need to buy a snow shovel in my area" moment, we've got one marketing solution. If you're not discussing micro-moments, you should. Read Google's take here.
Shoot For the Moon
Sometimes you find inspiration. I loved this article from "campaign" that advises to "shoot for the moon" at least once a year. While innovation implies incremental change, "shoot for the moon" means a game changer, a big leap. What's interesting? The transformation doesn't have to be mechanical; it can be in design thinking or psychological. "Making a train 20% faster may cost millions - making a train journey 20% more enjoyable may cost almost nothing." If you're looking to be inspired, take the few minutes for this read.
Snap In the Middle
Couple quick media announcements - and they're all about content. Media company Vice, with a cable network and production studios, raised $450 million from a private equity firm to develop scripted programming and streaming video. The equity firm also owns Airbnb and Spotify. Looks like the deal might be a precursor to Vice going public. In a less-then-six-degrees-of-separation moment, Vice recently signed an agreement with Snapchat to produce short-form original content. And then Time Warner, parent of Warner Bros., HBO and Turner, signed $100 million content deal with Snap. Snap is a now a media company that started with building an audience before it built content.
TV Gets More Targeted
Adobe is a company that creates pdfs like Amazon is a company that sells books. The Trojan- horse power both companies own is their positions as a data warehouse. Adobe launched Advertising Cloud TV this week to target viewers across multiple devices. How close is this to addressable? It allows marketers to buy ad inventory on live linear TV, addressable TV, connected TV, video-on-demand and over-the-top (OTT) using first party data to better target desired audiences. That's pretty darned close.