How to win big with moments based product thinking?
What is that thing businesses need to do to stay ahead of the competition? The solution to this will also answer some of the top priority business questions.
- How to influence a customer’s buying behavior?
- How to increase inbound calls?
- How to make customers fall in love with the brand?
- How to make customers buy a product or service?
The disruption in customer experience is happening at a rapid phase where companies become obsolete if they still treat the customers the same way. Here is an opportunity that businesses can leverage to influence customer behavior through their moments of intent, which is Micro-moments. In this blog, we define micro-moments and describe
- How to identify the moments that matter most
- How to develop a product strategy based on micro-moments
What are micro-moments?
Google coined the term micro-moments based on consumer behavior and identified how a business needs to be relevant and immediate in their customer journey. Micro-moments are intent-rich, contextual, and immediate moments for which the customer turns to a device/product/brand – to take a specific action. These moments are the critical touchpoints in a consumer’s journey, and when added together, they determine how that journey ends. Being aware of these touchpoints in the journey is not only critical for marketers, but also for product strategists and experience designers, to make the product successful.
To understand micro-moments, it is necessary to understand the paradigm shift of the decision-making process. The linear way of decisions made in the past is different from the fragmented way of decision making in today’s digital world. This fragmented journey happens over a period of time across multiple channels and the intent keeps changing with context to help them make the decision.
Why micro-moments matter?
As a brand or as a product, it is essential to understand the journey of micro-moments. In the experience economy, to retain or acquire new customers, businesses need to be present in a meaningful way in all the key micro-moments. Now, the decision making is in the hands of the customers, and if businesses fail to empathize with their needs, companies are going to lose out. According to our inhouse experts:
- 50% of users purchase from a brand other than the intended one because the information provided is useful
- 90% of users leave and never return on a mobile site or app if it doesn’t satisfy their needs
- 69% of online consumers agree that the quality, timing, or relevance of a message influences their perception of a brand or product.
Ways brand can win in micro-moments
Being in the micro-moment is when brands are ideally focusing on three essential parameters
- Connectivity: to be there and present in all the targeted customer touchpoints
- Convenience: to be useful and relevant in their usage/access
- Speed: to be quick and on time, in terms of product/service delivery
Designing for micro-moments
Key aspects of micro-moments based design includes:
- Identifying micro-moments that matter to your brand: Know the existing communication touchpoints and enhance it by providing the missing moments in a customer journey
- Understanding the customer journey and touchpoints: Experience what it is like to be your customer in the whole journey and uncover much-needed insights
- Delivering user needs by focusing on behavior within each micro-moment: Identify what the customer is requiring at that point of time and provide only that information to move them from one funnel to the next gradually
The moments of intent: Think 360 Degree
Micro-moments shape preferences and assist in decision-making. This is because consumers instinctively reach out to their ubiquitous digital devices to satisfy a specific need – be it learning a recipe or comparing hotel prices or browsing for a new Wi-Fi plan. In this context, any efficiently completed action defines a positive experience. With this perspective, the customer journey can be broken down into four types of moments
- I want to know: Customers explore different options of a product or a service
- I want to do: Customers look for instructions online to perform a task/work
- I want to Accomplish: Customers compare and make a decision
- I want to experience: Customers evaluate and share the experiences
Imaginea offers to design products and experiences based on it’s own m360 degree framework according to the above strategies. This framework is the moments driven design framework that helps businesses to understand, map, prove and measure the impact of micro-moments. Here is an overview of m360 degree design framework:
Product strategy using m360 framework
Here is a guideline to define your product strategy based on m360 framework
Is your business moments-ready?
|Your challenges||Questions to ask||Steps you can take|
|Converting customers from explorers to buyers||Are you targeting the right audience?||Enhance brand experience across touch points (social, web, mobile)|
|Driving traffic to your product||Are you present in the key Micro-Moments?||Define User Experience strategy using our m360 framework|
|Retaining users of your product||I the products self explanatory?||Improve First Time User Experience strategy for your product to ensure user retention|
|Increase in customer support support cost and negative reviews||Is your product designed keeping end users in mind?||Take design thinking-led approach to improve usability|
|Reaching out to your audience; Making your product market ready||Do you have a holistic content marketing strategy?||Make your product market-ready (from marketing campaign design to videos and motion graphics animation, we do it all)|
With all the insights provided, build micro-moments for your company, accelerate customer’s buying behavior, and get ahead of the competition. Now is the only time and relevance is the only solution for businesses to succeed. Brands are expected to deliver instant solutions and if they fail, they go extinct.