zero moment of truth presentation for webcongress panama city
DESCRIPTION
The ZERO MOMENT OF TRUTH (ZMOT)is a marketers window to positively influence their potential customer’s buying decision, during the entire cycle of his or her product research. According to Google, ZMOT “It’s a new decision-making moment that takes place a hundred million times a day on mobile phones, laptops and wired devices of all kinds. It’s a moment where marketing happens, where information happens, and where consumers make choices that affect the success and failure of nearly every brand in the world.” This presentation was given on October 16th, 2014 in Panama City as a keynote speaker for WebCongress to an audience of over 600 guests, media and industry professionals.TRANSCRIPT
The Zero Moment of Truth
Humberto Alexander Lee
#WCPanama@18SIGNALS
What is ZMOT?
The ZERO MOMENT OF TRUTH is a marketers window to positively influence their potential customer’s buying decision, during the entire cycle of his or her product research
The Traditional 3-Step Mental Model
The New Mental Model
Where Can We Find ZMOTs
A BUSY MOM IN A MINIVAN, looking up decongestants on her mobile phone as she waits to pick her son at school
AN OFFICE MANAGER AT HER DESK, comparing laser printer prices and ink cartridge costs before heading to the office supply store
A STUDENT IN A CAFE, scanning user ratings and reviews while looking for a cheap hotel in Barcelona
A WINTER SPORTS FAN IN A SKI STORE, pulling out a mobile phone to look at video reviews on the latest snowboards
A YOUNG WOMAN IN HER APARTMENT, searching for the web for details about a new guy before a blind date
Big Data, Smartphones and Small Data
ZMOT By The Numbers
Category Purchased# of Sources Used
by Typical ShopperAvg. Usage
Across Sources% of Shoppers
Influenced at ZMOTAutomotive 18.2 34% 97%Technology (Consumer Electronics) 14.8 30% 92%Voters 14.7 35% 95%Travel 10.2 22% 99%Over-the-Counter Health 9.8 18% 78%Consumer Packaged Goods: Grocery 7.3 15% 61%Consumer Packaged Goods: Health/Beauty/Personal Care 7 14% 63%Quick-Serve Restaurants 5.8 12% 72%Banking 10.8 25% 91%Insurance 11.7 26% 94%Credit Card 8.6 19% 81%Investments 8.9 20% 89%
Source: Google/Shopper Sciences, Zero Moment of Truth Industry Studies, U.S, April 2011
ZMOT Influence by Category
Now We Know
The ZERO MOMENT OF TRUTH is “It’s a new decision-making moment that takes place a hundred million times a day on mobile phones, laptops and wired devices of all kinds. It’s a moment where marketing happens, where information happens, and where consumers make choices that affect the success and failure of nearly every brand in the world”
How Companies Use ZMOT
The ZMOT Strategic Rules
1. Start with your Bottom Line – What is the goal of your business?2. Get Ready to Measure – You must be able to measure the result in order to make
improvements.3. Begin with the Basics – How are people finding, engaging and buying from you online?4. Keep your ZMOT Promises – When they find you, are you providing them with the
information they were looking for?5. Follow the 10/90 Rule – Invest 10% of your revenue into tools and services to grow your
business.6. Get Ahead of the Game – Don’t just focus on where your competition is, focus on where it
will be or take a wider view of how they’re finding you.7. Keep an Eye on Micro Conversions – It’s not just about the purchase, watch social activity,
subscriptions, downloads, registrations, etc. that lead to prospects becoming customers.8. Start Failing Faster – Step back from the larger strategy and look for ways to accelerate on a
smaller scale – stay agile. The sooner you fail, the sooner you learn what works
Play Smart, Win the Game
Use Social Validation
1 2 3
Ensure the Experience
Matches the Expectations
Avoid the Information
Gap