Tuesday, March 27, 2012

Connect the Dots

Blink:
Two relevant pieces of information. A.) Thanks to multitasking, US adults spend amazingly 11 hours, 33 minutes per day with all media (eMarketer). B.) SymphonyIRI’s recent MarketPlus survey indicated consumers will continue to be frugal. Marketers, time to connect the dots.

Read On:
Back in January I reported that America’s purchasing decision process is morphing. I introduced the concept of ZMOT, the Zero Moment of Truth, where people, thanks to the collaborative tools of Web 2.0 were sharing their experiences online and influencing consumer purchasing decisions. Now add in the two pieces of information I shared in the above blink. CPG (consumer package goods) marketers are now targeting a multitasking audience on media overload that defines value largely on price. Time has arrived for marketers to connect the dots.

The present opportunity is to leverage mobile technology which is extending the consumers ability to access digital content 24/7. Let me highlight some key facts to validate my hypothesis:

· The Pew Research Center’s Internet & America Project just released that 86% of all smartphone and tablet owners use their devices while watching TV.

· Nielsen reported back in December that 19% of smartphone and tablet owners they surveyed during Q3 2011 used their mobile devices to seek information related to a commercial they watched.

· Google conducted a study back in April, 2011 that revealed 70% of Americans look at product reviews before they buy; 79% of consumers indicated they use their smartphones to assist with their shopping.

· According to SymphonyIRI’s MarketPlus survey, consumers still choose a store based on lowest prices, while three-quarters revealed price influences brand decisions.

As I stated back in January, our mobile devices have become MOT (the Moment of Truth) accelerators. Consequently they have opened a huge window of opportunity for savvy marketers to capitalize on three intercept marketing strategies – apps, QR codes and SMS. Target and Old Navy (Snap Appy) are two leading retailers with mobile apps designed for our mobile-based lifestyles. They enable shoppers to search for products in-store (e.g., aisle location/availability) or from home (e.g., locate stores), broadcast weekly or daily deals and track rewards. Macy’s won the Mobile Marketer of the Year in 2011. They rely heavily on QR codes embedded on their Backstage Program in-store signage as well as utilize SMS to connect consumers with celebrity designers and fashion authorities via video plus award gift cards.


Marketers, remember to connect your dots!

3 comments:

  1. Some great stats, Jimmy...but it strikes me that the last mile of this scenario will be to allow the PURCHASE of items from smartphones. Impulse to buy is the consummate ZMOT, and although coupons and special discounts delivered onto the phone is a good step, allowing for completion of the transaction closes the circle. Its my understanding that Japan already has this technology, as well as virtual wallets. Of course, not all goods can be (or should be) purchased as an implies; and some items will require pick-up at a store. But its an interesting concept. Keep after the mobile evolution, Jim...

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  2. Jimmy, 11 hours 30 minutes seems a bit low to me. :) 98% of my shopping is done via smartphone or tablet. Google Wallet makes is almost too easy to purchase apps and books on those devices. Google Shopper is like a one stop app combining social discounting, QR scanning, and online retailing, all linked to your Google account, so it can be accessed via phone, tablet, computer,...tv? My next phone will have NFC (near field communication) in order to utilize Google Wallet to its full potential in the real world. The future is here, now it just needs further analysis and refinement for the general public.

    Viva Los Android!

    Thanks Jimmy.

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  3. This is so thought provoking. Makes me wonder what folks were doing 200 years ago with those 11 hours and 30 minutes.

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