Capitalizing on Moments of Opportunity in the Digital Economy

Press enter to search
Close search
Open Menu

Capitalizing on Moments of Opportunity in the Digital Economy

By Mark Osborn, SAP - 06/01/2016
Consumer products (CP) companies are presented with a challenging opportunity — engaging with digital consumers in an environment where companies no longer drive the conversation. Consumers can get what they want, when and how they want it. Quality and price are no longer primary purchase drivers. Instead, consumers demand personalized experiences that inspire and guide them — pushing brands to new levels of engagement.
 
So, how do companies deliver relevant and meaningful experiences that connect with today’s digital consumer? These efforts must transform “push” engagement tactics to a new delivery of experiences and outcomes that provide meaningful value.
 
Beyond Moments of Truth
Traditional marketing tactics focused on “moments of truth” where consumer engagement occurred at the most critical moments — in-store purchase at the shelf and subsequent consumption and use. Engagement was concerned with communicating to the broadest range of buyer segments. Today’s consumer demands are forcing the industry to shift how it interacts with and provides value to consumers. As the primary engagement channel, marketing efforts need to be coordinated with the entire enterprise in order to orchestrate and deliver personalized outcomes.
 
Reaching today’s consumer means delivering these personalized outcomes in “moments of opportunity” real-time opportunities that companies identify or create in moments of consumer need, and then capitalize on to deliver high-value just-for-me consumer experiences.
 
Capitalizing on Moments of Opportunity
Some CP companies are experimenting with exciting and unique tactics to reach consumers with radically different expectations and needs — tactics that make a meaningful connection between buyers and brands. For example, Nivea wanted to expand its brand experience beyond sun protection. A campaign was designed to highlight a “connected bracelet” for parents that triggered alerts to an app on the consumer’s smartphone to ensure a child’s safety while at the beach.
 
With relatively small incremental investments in technology and marketing tactics, Nivea was able to transform consumers’ brand perception from “protect my child from sunburn” to “protect my child,” providing a new and very powerful personalized outcome. And, with this new approach to engaging the consumer, Nivea was empowered to gather from and exchange with the consumer far more data information than the company had ever had access to before, creating even more opportunities for ongoing personalized consumer engagement.
 
Nivea re-imagined consumer engagement by creating a unique experience that provided its consumers with a sense of security — substantially more valuable than simply sunscreen. This is just one example of how companies are reaching digital consumers through re-imagined engagement that capitalizes on moments of opportunity. By starting with a clear strategy for transforming moments of consumer engagement, companies can make big changes to the experiences and outcomes they deliver.
 
Consumers today crave personalized experiences and outcomes that guide, assist and empower them, delivered right at the moment of need. Traditional models that focus on “moments of truth” — creating awareness and impressions to drive brand recognition and purchase — are giving way to new models that emphasize “moments of opportunity” — agile, real-time engagement that delivers personalized experiences and outcomes and that expands the definition of value for the digital consumer.