In 2006 , A G Lafely, ex Ceo of P& G introduced numeracy to the moments of truth that a marketer has to face. His forward count went till two: First Moment of Truth (FMOT) is, according to him, when the consumer buys the product and the Second Moment (SMOT) arrives when he experiences it. In 2011, Google’s Managing Director of US Sales and Service, Jim Lecinski appended a marketers schema with Zero Moment of Truth (ZMOT).
In his handbook, “Winning the Zero Moment of Truth” Jim describes ZMOT as the ‘online decision-making moment of consumers’. According to Google’s ZMOT Macro study report cited in the book, “88% of consumers research online before they buy, consulting an average of 10.4 sources”. Since then with social media becoming even more dominant, winning the ZMOT, has become the holy grail of marketers worldwide.
The New Mental Model of Marketing in Digital Ecology
- Americans spend 34 hours a week watching TV
- TV, Smartphone and tablet Ads increase purchase intent by 72%.
- 46% of consumers trust TV Ads.
- 70% of buying decisions are made IN STORE.
- 32 percent consumers write product reviews or comments online.
- 83 percent of shoppers make their purchase decision prior to entering a store.
- 42% shoppers research about products.
- 21% shoppers read expert and user reviews.
- 52% trust online ratings and reviews as most influential in purchase decisions followed by advice from friends and family at 49%.
- 62% of shoppers search for deals online before at least half of their shopping trips
- 37% of shoppers find online social sources an influential driver when making decisions
- 21% shoppers visit price comparison sites and 14% search discount coupons.
- Consumers are using 7.9 different media sources when shopping for products or services.
- Globally, 46% used social media to help make purchase decisions.
- The average shopper consults 10.4 sources prior to purchase twice as many as year ago.
- 24% shoppers engage in digital post purchase behavior.
Media-Mosaic, worlds first fully integrated ZMOT agency, has applied the ZMOT concept to different industry verticals. It has recently launched its series of Webinars and Infographics to help travel marketers win at their Zero Moment of Truth.