What Exactly Is ZMOT?
The Zero Moment Of Truth or ZMOT is a marketing term coined by Google’s Jim Lecinski in 2011 that refers to the moment in the purchasing cycle when a consumer researches a product online before making a purchase. Put simply; when a person is trying to choose between similar products or services they tend to gather information online from various sources before making their decision.
The internet has given people the power to know a lot more about a product before even entering a store. This has resulted in relying less on the advice of a sales person on the shop floor and more on people’s own well informed research online. By the time people make a purchase they have read reviews, compared prices, compared related products and fully evaluated the product specs.
These sources are becoming more valuable than other forms of exposure, and play a very important role in shaping peoples purchase decisions, if the person is not satisfied with the information they have found, no purchase will be made.
What Does This Mean For Your Business?
When people hear about a product or service these days, their first thought is to search for it online to gain more information. Businesses have to compete for a consumer’s attention online long before a purchase is made.
It is important to be aware of what information people need during this process and how easy it is for them to access it. People no longer want to hear what you have to say about your product or service; they want to know what other likeminded people think of it. With the increased ease of access via smart phones, tablets, laptops, and PC’s this process has become possible in a matter of minutes.
Think of it as the opportunity to get your product or service in front of a potential customer and in some way influence their purchase decision. It’s a valuable opportunity you do not want to miss out on.
New Zealand ZMOT Opportunities
There are a range of sites around, but here are a few examples:
- Comparison Shopping Websites. PriceSpy, Trivago and PriceMe
- Product Review Websites. Consumer NZ, RIGHTCAR and TripAdvisor
- Coupon Websites. Groupon and Vouchermate
- Special Offers/Deals Websites. GrabOne and CrazySales
- Loyalty/Rewards Websites. Fly Buys and AA Smartfuel Rewards
Delivering these ZMOT moments to consumers is really a content marketing exercise. The exact approach will vary depending on the type of business, location and type of product or service, understanding the needs of your audience and presenting the content in a format they can easily access across multiple devices. You may not have control over where someone researches and when, but you definitely need to have a presence.