The Zero Moment Of Truth: A New Marketing Paradigm

If there is any one must-read marketing resource for 2012, it’s a free ebook called “Winning The Zero Moment Of Truth” by Jim Lecinski from Google.

The book highlights an undeniable seismic shift in the way consumers purchase everything from paperclips to Porsches. Understanding how to win in the “Zero Moment Of Truth” will make or break the next generation of marketers.

So what is a “Zero Moment Of Truth” anyways?!

A Zero Moment of Truth describes the moment a consumer grabs their computer, laptop or mobile device and researches something they want to buy.

The Zero Moment of Truth was created through the combination of the following three influences:

• Emergence of the Internet itself – The emergence of the internet has given consumers an incredible resource for sharing and learning. It has drastically increased the amount of information and the information sources available to consumers, giving them more buying power than ever before.
• The mobile internet – Smart phones and other mobile devices have created the opportunity to wield the power of the internet anywhere at any time. Consumers can  learn about products (and alternatives!) anywhere from their living room couches during commercial break to the store aisles right before they check out. They can also instantly search for nearby businesses or buy products online right then and there.
• Social networking – A potential customer can tap into online reviews and ratings, solicit opinions over social media or interact with the brand itself to assist in their decision making process. Anyone can be a part of the conversation – friends, family, strangers, celebrities, experts and brand ambassadors.

The times, they are a changin’

The traditional consumer’s path to purchase was thought to be summed up in the following:

1. A Stimulus: Seeing an ad or hearing about a product you might want/need.
2. First Moment of Truth: The influences of price, packaging, service, placement and promotion
3. Second Moment of Truth: Once you’ve purchased, your Experience of whether you like the product/brand

And now, for something completely different…

Considering the major changes spurred by the emergence of the internet, mobile and social technologies, the new paradigm for the consumer purchase path looks more like this:

1. A Stimulus: Seeing an ad or hearing about a product you might want/need.
2. Zero Moment Of Truth – Researching and discovering options with: search engine queries, reviews, ratings, social media, blogs/forums.
3. First Moment of Truth: Price Packaging, Service, Placement, Promotion
4. Second Moment of Truth: Your Experience of whether you like the product/brand

The ZMOT has become a crucial step in the buying cycle where your business stands to either win or lose. New questions must be answered: Are you visible online? What is your online reputation? Who is talking about you and what are they saying? How are you engaging with that online audience?

Owning The Zero Moment of Truth

It’s up to us to join the conversation at this new moment where consumers are making these decisions and provide them with the information that they are looking for. That doesn’t just mean having a website. Whether it’s using SEO tactics to come up organically in search results, encouraging customers to post reviews on your Yelp and Google Places listings, or connecting with your customers through social media, it’s crucial you  consider the ZMOT when drawing up your marketing strategy. The paradigm is shifting and savvy businesses are changing right along with it.

For ideas on how you should be incorporating ZMOT into your marketing tactics, give us a shout at Vovia and we can help you out.