50 years ago, we use to receive information about any product via radio, newspaper, television & through word of mouth. But, nowadays everything is changed. If we want to buy any product, we just google it and see the reviews given by different users. Being a marketer, the moment of purchase and pre-ordering is valuable for selling more products in the market.
The Zero Moment of Truth (ZMOT) refers to the buying cycle when the consumer researches a product, often before the seller even knows that they exist. The number of customers investigating a product online prior to purchases has been on the rise in recent years as the internet and mobile keep on advancing.
First Moment of Truth
The First Moment of Truth (FMOT) was introduced by the Procter & Gambler (P&G) in 2005. For FMOT, customer experiences products from a store or else we can say that a customer confirms and trust to purchase the product in a store and use it. This micro-moment helps different brands to run high with best changes in the market.
If you are having a question that why supermarket moves everything around, you will now realize that it relies on impulse or unplanned purchases.
Second Moment of Truth
In the Second moment of Truth (SMOT), Customer buys the product and experiences it. This is where your product or service has to fulfill the promises made by your marketers. If the product is not meeting promises of SMOT, no one will purchase products.
Third Moment of Truth (Stimulus)
Consumers’ feedback or opinion towards a brand, product or service i.e. consumer becomes a brand advocate and gives back via word of mouth or social media publishing. If the product is offering more or not we must go from awareness/analysis through the sale, and ideally, to the post-sale recommendation. This is where you can convert a customer into a fan.
Zero Moment of Truth
Zero Moment of Truth (ZMOT) was introduced by Google in 2011, The study discovered that the customer’s journey changes at every moment from field marketing to online marketing. Assume, I want to purchase something, what would I do? I’d go to the web, search the product and check the reviews of those products. With that fact, I’ll have accurate feedback in terms of what to buy? where to buy?
The study determined that the customer journey is evolving continuously:
A subsequent study in 2014 showed that users are using their smartphone to research products and there are even more touch points on the way to a purchase. Today, we are using our smartphones to research best brands, prices, reviews. The ZMOT can occur on search engines and social networks, as well the net outcome is a more confident and well-informed purchase decision.
The conclusion here is that users now do research, analyze brands, read reviews, talk to friends, view videos, interact on social sites (from Facebook to TripAdvisor), read news and furthermore visit brands’ websites to make decisions — and the majority of this is done at the Zero Moment of Truth.
With this fact the demand of eCommerce world has been drastically increased. Vendors are more of moving towards getting their online web presence ready in the form of website, iOS application, android application and many other along with promoting that to different segment of users.
With that, we @9series are receiving lot of inquiries in terms of building eCommerce website, e-ordering mobile applications and promoting that to have more and more users with the help of SEO / SEM and Social Media Marketing. Overall demand of this says that, 71% of solution demand have been increased over the period of past few years and that’s the real change of world and effect of ZMOT.