Our fast-paced lifestyle requires swift response and feedback from organizations to engage with customers’ interests and needs. Held on April 22, the latest BizInsight webinar invited two marketing professors – Professor Wenbo WANG and Professor Jia LIU – to share their research and practical knowledge on moment marketing. This is a rising marketing strategy that allows marketers to offer relevant “real-time” connections online and offline with consumers.
Live content and commentary are undoubtedly becoming a popular way for consumers to engage with brands in many English-speaking countries and emerging markets. However, little is known about these moment-to-moment experiences as they are hard to accurately measure and manage. Professor Wang shared his research on moment-to-moment synchronicity (MTMS) – an innovative method that measures the way consumers react and interact with online content in real-time. MTMS is broadly applicable to different forms of consumption from movies and TV shows to visiting theme parks and restaurants.
In the context of advertisement targeting, the data collected from MTMS can support organizations to break away from conventional fixed-time advertising and target consumers with the right advertisements at the right time. This can also influence how TV shows and other digital content are produced to achieve optimal engagement results. “If we know how consumers respond to the content of the show moment to moment, we can edit and design the show content more tailored to [the] consumer’s experience.”
Balanced against Professor Wang’s research, Professor Liu’s research examined moment marketing from another angle by focusing on the effectiveness of cross-channel advertising. As phones and tablets are becoming a daily necessity, second screen behavior dominates over 70% of adult consumers’ online experiences. This can affect the synchronization between online searches and offline events, such as TV advertisements during sports events, where advertisers can deliver relevant content to simulate spontaneous communication with consumers in real-time.
Professor Jia further shared her research on the pizza industry in the U.S. as an example to demonstrate how moment marketing can leverage TV advertisements to increase the volume of online search results while focusing on the targeted audience group. Additionally, moment marketing has the potential to help advertisers design strategies to maximize the effectiveness of cross-channel advertising during major events.
By examining the impact and values of moment marketing from an academic perspective, both presentations revealed how moment marketing is relatable to our regular consuming behavior in many ways. While this form of strategy is used extensively in the West, there is potential for brands in Asia to leverage on this to maximize the effectiveness of their marketing strategies and connect with their customers in a more effective way.
Launched in 2009, the BizInsight presentation series offers a dedicated platform for our faculty members to share their academic research with the public. Stay in touch with us for more engaging webinars that foster positive engagement between the business community and the wider public.
Our NEXT EVENT will be held on May 22, 2020 (Friday)
Time: 12:30 – 2:00pm
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