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The Concept of Moment Marketing
Firms need to market their products in order to ensure sales in today’s volatile, uncertain, ambiguous, and complex (VUCA) world. It is not only about the quality of their product or service, but also about the
Availability of the product in the market.
Usability of the product.
Public sentiment regarding the brand name and its products and services.
Packaging of the product.
Advertising is done by the brands to make the product memorable.
Competitors’ products and their brand image, and many more.
Moment Marketing Theory
Marketing is effective only when it is done with the right target audience and at the right time. Moment marketing is one such concept of marketing that is based on both of these crucial parameters. Moment marketing is the practice of advertising a product in such a way that it attracts consumers and persuades them to initiate a conversation. It is all about seizing the moment and being in sync with its audience and its consumers. It simply means to advertise your product or service using current affairs.
For example, during the FIFA World Cup 2022, Amul, a dairy brand in India, continued to post videos and shoutouts for the Final and Semi-Final, but one of the most memorable advertisements was one that featured two famous footballers from both Argentina and France teams, with the caption "Aao dekhe zara kick me kitna hain dum." The advertisement was relevant to the Indian audiences, hilarious and timely, garnering over 60000 likes on Instagram.
Benefits of Moment Marketing
Moment marketing is the new kid in the block and the benefits that it is going to provide to the companies are −
Obtains Consumer Attention − In today's world, where many advertisements appear every second on your feed or in front of your eyes, it is difficult for businesses to entice consumers to buy or use their product or service. Moment marketing helps break the monotony by providing consumers with content related to recent affairs or news. The advertisement is presented in a witty manner, and the consumer cannot help but engage with the brand by.
Sharing the content with their friends or family members.
Adding the content to their social media handles in the form of posts or stories.
Visiting the company’s website and looking for more such content.
Brings a lot of traction to the Company’s Website and social media handles. When consumers see advertisements, they can relate to it is natural for them to jump to the company’s website or social media handle for more such content or information regarding the product. This jump leads to an increase in traffic on the website, and the company is also able to create a space in the consumer’s mind. It may lead to an instant purchase decision or brand recognition.
Helps the Consumer make a Purchase Decision − When consumers come across the brand and its product, they may make an instant purchase decision, or they may store the information and use it in their next purchase cycle. Among two untried brands being displayed on the shelf, consumers will always go for a brand that they remember seeing advertised.
Builds the Brand's Public Image − A brand that can follow trends and is in sync with its customers will always have a better image than its competitors. Moment marketing helps create a relationship between the brand and the consumer. With witty and humorous advertisements, brands become the personal favorites of consumers. Zomato, Swiggy, Ola, and Rapido are currently known for their moment marketing in India.
Creates a Loyal Customer Base − Customers are passionate about their brand. For them, a brand and its product are not just a commodity but also an emotion. We see a lot of customers postponing purchases or paying a higher price for a product simply because their preferred brand was unavailable on the market.
Helps the Company go Viral − In the era of social media, going viral organically could be very beneficial. Having more than a million views or thousands of likes is a dream for brands. Viral marketing makes it possible to go viral. Companies can invest very little in order to create good-moment marketing advertisements that go viral.
Breaks the Traditional Advertising Chain − Moment marketing assists the company in breaking the monotony of advertisements in terms of content, channel, and price. With moment marketing, companies can create other content than advertisements that describe the product’s benefits or features. They can relate the product to the current affair; for example, when Saif Ali Khan, the famous Bollywood actor, became a father for the fourth time, Manforce launched an advertisement campaign, "Be safe and not Saif," with Manforce condoms.
Some Fascinating Examples of Moment Marketing
Dominos − During the pandemic, when vaccination drives began, Dominos began advertising Rs 400 off your next purchase if you show them your vaccination certificate. In this case, the company is aligning the social cause and the momentum to boost sales. Sales have taken a dip during the pandemic because of safety concerns.
Amul − The master of moment marketing, has been using this technique for over a decade. Previously, they used the week's most popular news to create moment marketing advertisements, but now it happens with almost any news.
Kotak Mahindra Banks − If you notice, you will see a lot of catchy phrases used twice a day by the brand to advertise the different financial services offered by the bank to its customers. For example, I recently saw the advertisement "Sona Kitna Sona hain?" in a Kotka Mahindra Bank popup. It was promoting the feature of being able to track every second change in the price of gold via the Kotak Mahindra bank application.
Fevicol − The brand took part in the #10yearchallenge by showcasing the current condition of the products that were built using Fevicol 10 years ago. In a subtle way, this advertisement showcases the USP of the brand, which is "mazboot jor" and is super hilarious and relatable for the consumers.
Moment marketing is one of the most cost-effective and trending forms of advertising that brands can leverage. It helps brands break the monotony of advertisements. Sometimes it gets difficult for the companies to align the recent affair with their products and their brand’s USP, or there could be situations in which the brand is misinterpreted for their efforts or content, but the struggle is worth the fruit. Moment marketing is one of the most effective forms of social media marketing.
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