ZMOT: Zero Moment of Truth
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Whether we're shopping for corn flakes, concert tickets or a honeymoon in Paris, the Internet has changed how we decide what to buy. At Google, this online decision-making moment is called the Zero Moment of Truth -- or simply ZMOT. This presentation was adapted from Daren Tomey's presentation - and utilizes resources and information from Google's Zero Moment of Truth web site.
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ZMOT: Zero Moment of Truth
- 2. What is ZMOT? The Zero Moment of Truth refers to all the research consumers do online before making a purchase. The internet has empowered people to know more about the product they’re going to buy, than the person selling it to them. 2
- 3. The Traditional Mental Model of Marketing (B2C) Stimulus First Second Moment of Moment of Truth Truth At shelf Experience In-store 3
- 4. How has the Internet changed the model? 4
- 5. The New Mental Model of Marketing Stimulus First Second Moment of Moment of Truth Truth Pre-shopping | At shelf Experience In-store | In-home In-store 5
- 6. ZMOT Variables 6
- 7. 7
- 8. ZMOT Sources 8
- 9. ZMOT Sources 9
- 10. How Do They Search? 10
- 11. ZMOT Sources 11
- 12. 12
- 13. In-store Mobile Shopping Habits 13
- 14. Showrooming 14
- 15. How ZMOT affect the New Mental Model 15
- 16. ZMOT is… 16
- 17. The New Mental Model of Marketing Stimulus First Second Moment of Moment of Truth Truth Which becomes the next person’s ZMOT 17
- 18. How to Win the Zero Moment of Truth 18
- 19. Follow Avinash’s 10/90 Rule If you have $100 to invest in making smart decisions at ZMOT, you should invest $10 tools and vendor services, and the other $90 on big brains: people who can analyze the data, learn from it, and pass the insights onto you. 19
- 20. How to WIN at ZMOT: 1. Put someone in charge 20
- 21. How to WIN at ZMOT: 2. Find Your Zero Moments 21
- 22. How to WIN at ZMOT: 3. Answer the Questions People are Asking 22
- 23. How to WIN at ZMOT: 4. Optimize for ZMOT In 2011, only 21% of websites were optimized for mobile 23
- 24. How to WIN at ZMOT: 5. Be Agile 24
- 25. How to WIN at ZMOT: 6. Don’t Forget Video 25
- 26. How to WIN at ZMOT: 7. Start 26
- 27. How to Win at ZMOT: 1) Put someone in charge 2) Find your Zero Moments 3) Answer the questions people are asking 4) Optimize for ZMOT 5) Be Agile 6) Add Video 7) Start 27
- 28. http://www.zeromomentoftruth.com http://www.dknewmedia.com @dknewmedia info@dknewmedia.com 317.456.2564 28
Editor's Notes
- How is shopper behavior changing in a digitally powered world? What roles do new media like social and mobile play in the shopping experience?How are shoppers expectations of the physical retail store changing? How does pre-shopping change actual purchasing?
- The first and second moments of truth were a revelation when marketers first discovered them. It helped them focus their messaging and drove them to market more effectively by tying together messaging at the each intersection of the customer experience.
- The #1 online method of ZMOT is searching online. In fact, Google says that 95% of all commerce activities begin with a search activity.
- This is the normal search patterns for branded and non-branded searches. You will have some that go longer tail, but they are already nearing First Moment of Truth at that point. As marketers, it’s up to us to provide our audience with informative content that informs their purchasing decisions.
- As marketers, we cannot control where someone researches, but we definitely should have a presence. PPC (Adwords, Facebook, Bing, etc) Landing Pages (Categories and Product specific) SEOSocial Space (Facebook, Twitter, YouTube, Google+, Blogging Community) Review Sites: Industry relevant as well as BazaarVoice/Power Reviews (80% of all reviews are created by 20% of your users/ 75% of the reviews posted are postive/ A Highly rated product will increase the likelihood of purchase for 55% of consumers)
- According to Pew Internet50% of US Shoppers rely on mobile phones for in-store research. 38% called a friend for buying advice25% looked up prices online for products while inside the store24% accessed product reviews
- Electronics, Shoes, and Apparel lead the way in showroomingWhat is Showrooming? Showrooming is when a customer visits a brick and mortar retail location to touch and feel a product and then goes online to buy the product at a lower price.
- 84% of the shoppers said that ZMOT shapes their decisions. It’s now just as important as stimulus and FMOT in moving consumers from undecided to decided. Stimulus was 76%FMOT was 77%
- Data can only raise questions, you need people to answer them.
- Leverage Google Trends to monitor what search terms are hot including the last few days and beyond. Insights for Search provides more details about searches specifically related to you business.
- This cannot be approached as a 12 month plan, ZMOT happens in near real-time. In the world of ZMOT, speed beats perfection.
- What is the second most used search box on the web? YouTubeVideo watchers are heavy purchasers. In the apparel category: 34% are encouraged to purchase after watching an online video25% have purchased more than 6 times on apparel in the prior 6 months28% have spent more than $500 on apparel in the past 6 months
- “Showing up is 80% of Life”- Woody AllenThe beauty of the online world is this: You can jump right in. The beauty of ZMOT is that the best way to succeed is to jump right in. You don’t need a committee and your don’t need a five-year plan. You just need the knowledge that it can be a huge win for your business, and a willingness to be daring, have fun and try new things.