Technology has brought about a great deal of advancement; one of them being a smart phone. In fact, it is safe to say that more people own a smart phone then do not and these devices could be considered the most relied on form of technology in the twenty-first century.
Daily, mobile phones are used to assist their owners in streaming videos, making calls, sending messages, shopping, locating places, and of course conducting internet searches. These devices have literally taken over our lives.
Analyze
By analyzing the recorded data surrounding a purchase, marketers can pinpoint environmental factors and events leading up to the transaction. This newly found knowledge can then be modelled to develop purchase cycles allowing business owners to target the exact Marketing Channels, Communication Tones, Physical Environment, and Mindset surrounding the soon to be customer at the moment they are ready to complete a specific purchase.
Observe
An interesting and typically overlooked aspect to this technological revolution is that our every moment is now trackable. Google Now, Siri, and Cortana are listening to our every conversation. The GPS in our phone is tracking our every move and can even notify us when we are in proximity of other users. Nearly every aspect of our lives is being recorded and is available for interpretation. Couple this abundance of personal data with our need for instant gratification and boom, micro moments are born. A micro-moment is the exact point in time that someone is looking to find or purchase a specific something.
Win
This model can then be studied to determine the exact marketing methods likely to get your brand in front of the soon to be customer at the precise moment they are ready to purchase. Like all marketing this evolution will not happen overnight but the data is already available and without the proper migration to more advanced efforts your brand will likely be losing precious revenue by the competition in the not so distant future.