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"In mature markets, the only way to increase share of market is to increase share of customer. This means that the database becomes front-and-center in terms of importance in the marketing mix." |
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Marketing in the Zero Moment of Truth
What an exciting time to be a marketer! It seems like every year we're confronted with more game changing concepts, and I love game changing concepts! The Zero Moment of Truth or ZMOT, while not totally revolutionary, is a game changer for many of us. The ZMOT is the moment when you grab your phone, laptop or some other wired devise and start learning about a product, service, idea or even a person before you ever get to the point of purchase or decision. In fact:
Way back in 2005 a Wall St. Journal article about the first moment of truth (FMOT) made a big splash. The article told the story on why Procter & Gamble was making a significant investment, including hiring a director of FMOT, in marketing at the first moment of truth. "First moment of truth," as P&G calls it, is the three to seven seconds when someone notices an item on a store shelf. Despite spending billions on traditional advertising, the consumer-products giant thinks this instant is one of its most important marketing opportunities. While the FMOT is still important, consumers have moved their real decision making power in the zero moment of truth. Don't dismiss this if you're in B2B marketing This isn't just for B2C and retail marketers. Rather, the ZMOT is happening everywhere from locomotives to light bulbs. Another way to view the ZMOT is to see it as "on-demand word-of-mouth". For example, if you do a search for a product online and see what a friend has given it a +1 in Google or that 15 of your friends already like a particular brand or local retailer on Facebook, your decision is already made in the ZMOT. Want more? Here are a couple of stats on just how much information we're seeking in the zero moment of truth according to a report from Shopper Sciences:
How to Play the ZMOT Game Find your ZMOT's. Know what your customers are searching for in their ZMOT. Use the incoming search keywords on your site to determine whether it's reviews, recipes or solutions that people are looking for and then set out to answer those questions for customers. The next ZMOT may fall in your favor if you do. Answer the right questions. If you see people searching for a "how" then don't serve up content with a "what" or "when". This is akin to serving up coupons when people want information. ZMOT is about the customer getting confirmation, education and validation. Respect their wishes. Ensure visibility in the ZMOT. I know it sounds too simple, but whether or not you're found in the zero moments of truth depends on how well you've done to raise your visibility through search, reviews, social media, earned media and a variety of other sources that puts you in the right place at just the right time. Encourage reviews, reviews, reviews. We're a social proof driven culture. We want to know what people like us think before we make a decision. Testimonials are nice, but an authentic review found out on the web is how humans share experiences with each other, and that's what drives the emotional economic engine. Integrate Calls to ZMOT in your ads. I love the ad on TV run by one of the mattress companies where they tell you to check Twitter and Facebook to see what your friends say. They know the power of social proof as a persuader in the purchase process. Think about it – McDonald's has been doing it for years with the rolling "Over X Billion Served" Make it effortless for your customers. People love to share experiences, so make it easy for them do to do so and give them a platform, whether it's your website or links to a review site, make it so simple that they can't help but comment. Remember, the average comment is a 4.3 on a 5.0 scale and nearly 80% of the comments on the web are positive, so relax a bit. Keep all of your plates in the air. Google likens managing ZMOT to having a fourth plate spinning in the air, in addition to the traditional stimulus, shelf and experience plates that we had to manage to keep our brand on the rails. Don't think for a second that there's no one looking online for you and what you sell. Even 3M got over 3000 comments about Scotch tape the first year they stared taking website comments. I encourage you to take some time and read Google's ZMOT e-book at http://www.zeromomentoftruth.com. |
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