It is very clear that in society today the idea that ‘patience is a virtue’ has become a thing of the past.
Now, we essentially have the world at our fingertips, thanks to compact smartphones and other digital devices which most of us have attached to us AT ALL TIMES. This means that we can browse, trade and purchase products in real-time globally.
This has given rise to the need for businesses to focus on mobile marketing. However, Lamberton & Stephen (2016) outline that this does not just mean using devices to sell products, it means focusing on how to use these devices to create overall customer value.
This image below by Loesche (2018) outlines just how significant mobile e-commerce is, and how it is projected to grow well into 2021.
A large part of creating this customer value is being able to harness the idea of instant gratification. That is, the immediate compensation that arises after an act (such as an online purchase) is performed.
This extremely motivating and persuasive. Over the past few weeks alone I have found myself scrolling through Instagram and falling victim to their new shopping feature which allows me to; see, click, and purchase and item that my favourite influencer is wearing all within a matter of seconds.
Research by (Weinschenk, 2015) clearly shows that when you are waiting and anticipating for your packages to come in the mail you become more excited and that gratification increases prompting us to want to go back for more. This instant gratification can create an addictive cycle which is great for companies, great for us, but not so good for our credit cards.
However, some interesting implications and ideas to think about are, with consumers becoming increasingly aware of just how much of their information is being stored by their mobile devices (as outlined in an earlier post- check it out here) there is likely to come a point where instant just is not instant enough, and consumers unlimited demand will not be able to be satisfied by current mobile marketing techniques.
What do you think about mobile marketing and instant gratification?
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External readings and references:
Jensen, J., & Berg, N. (2011). Determinants of Traditional Sustainability Reporting Versus Integrated Reporting. An Institutionalist Approach. Business Strategy And The Environment, 21(5), 299-316. doi: 10.1002/bse.740
Loesche, D. (2018). Infographic: Mobile E-commerce is up and Poised for Further Growth. Retrieved from https://www.statista.com/chart/13139/estimated-worldwide-mobile-e-commerce-sales/
Weinschenk, S. (2015). Shopping, Dopamine, and Anticipation. Retrieved from https://www.psychologytoday.com/au/blog/brain-wise/201510/shopping-dopamine-and-anticipation
Category: marketing, Social MediaTags: addiction, clueless, crowdsignal, dopamine, e-commerce, influencers, instagram, instantgratification, iwantitall, Iwantitnow, mobile, mobilemarketing, theemmaeditorial