Leveraging Moment Marketing: A risky free ride!
The trending news and topics are always catchy to grab public attention. Trending is what brands prefer and try to cash on them using as their moment marketing. Typically, the trending news triggers conversations where the brands could connect and endorse their products or services. This scenario is like catching the tail of the trend and riding on the trending celebrities' fame without paying the compensation for the promotion.
Conversely, digital advertising and social media being a double-edged sword, the idea of moment marketing could even backfire, just like the most recent case when Olympic star PV Sindhu was reportedly sued the brand's 5 crores each which could easily ruin the brand's goodwill.But, how are celebrities affected by the moment marketing? Why would one not want popularity and them being on trending thread? Well, the reason behind it is that these celebs would prefer to monetize their trending opportunity. When a brand could pay them high compensation for promotion, why would they allow that promotion to the brand for free? In other cases, if the celebrity is endorsing the rival brand's products or services, that brand would urge the celebrity to sue the brand using them for moment marketing.
Thus, as another opportunity to escape such pitfalls, the brands could opt for topical advertising; this means choosing a current trending topic and revamps it with a twist of their own without directly using the celebrity's name. This could only annihilate the brand's existing goodwill as the consumers could easily get a trick the brand is using. The digital marketing industry in India had a market size of close to 199 billion INR in the financial year 2020, which is a rise from just 47 billion INR bank in the financial year 2015. However, with time it is predicted to hit 539 billion INR by 2024, which marks a big growth for the industry.
Why Moment Marketing?
Generally, the marketers strive really hard to spread the message on multiple channels, and the main the struggle is to get a creative back and forth needed to proceed to the market with a relevant and on-brand campaign. Still, moment marketing could be beneficial to the brands as it aids in grabbing the moment and posting creative content and a cleverly draft form in accordance with the ongoing trending moments that would enable the brand to stand out and turn memorable. Alongside, the brand's conversation could boost its popularity and make the brand more recognizable amongst consumers. Furthermore, this mode of moment marketing by being part of the public's news feed would certainly assure that the brand's marketing is carried out at the best time when they are most willing to listen, observe and grasp.
Process of Moment Marketing!
Today, almost every individual is neither part of the news cycle or glance at it now and then because the content available is immediate and catchy. Hence, the brands prefer to insert into such daily conversation. Brands' eye to catch the people's attention by turning and as default turning as part of a trend conversation.
The target audience is always plugged in and is pretty close for detecting and forwarding the most recent content in viral video, meme, a tweet, social media post, and more. Furthermore, it has been noted that more than 50 percent of YouTube subscribers come under the age ranging between 18 and 34. These audiences give at most priority to the videos uploaded from their favourite channel.
Kick-starting Moment Marketing
Firstly, the brand could analyze the kind of search that would attract quality customers. After getting an idea for using the right keywords to target the audience, the brand could focus on settling down on the geographical area to approach. Figuring out the target geographical area, the brand checks the volume of people looking at that particular keyword by state, city, and country. For instance, the fishing equipment selling store would search the keyword fishing and check for the regions such as Kerala, Goa, Nagaland, and so on.
Following this finalization of the target audience and geographical area, the brand could consider optimizing its content. It is ideal to approach the customer to attract the right place and time to ensure to keep the copy location-specific. Next would be to automate the automated bidding advertisements that could run on the guesswork based on the ads running, allowing the brand to campaign possessing a bidding strategy best suited for their aim. Furthermore, the brands need not advertise in one particular format, and they could also experiment on varied formats. Like a brick-and-mortar store, they may prefer to run local search ads. Through these ads, the brand could show their location on the map and display directions towards the business, easing it for the potential customers to visit the store in person. Alongside, a video option of the brand over websites and other social media sites is also an ideal marketing choice.
To have a successful ad campaign, the brands could opt for moment marketing and serve their ads at the right moment. They are offering different formats suitable to their target audience at best possible time when the receiver is all set to consume it, serving the purpose right making it more beneficial.
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