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I appreciate the headline might be a bit controversial, but it's a genuine question. It's a natural follow-up to my previous post reviewing McKinsey's New consumer Decision Journey. After all - Google are saying that their Zero Moment of Truth model represents the death of the sales funnel. Really? I don't think so…
Of course we already know that P&G first realised the idea of 'moments of truth' in 2005, they said that the first moment was "in front of the shelf," and that the "second moment of truth" was gained through product trial and experience. So compared with McKinsey's Consumer Decision Journey, what is ZMOT adding? The aim of ZMOT is to explain how the consumer's research and decision-making journey on the way to purchase is now fundamentally different, that there's a step prior to P&G's first moment of truth, called ZMOT.
ZMOT also explains that this happens largely online, using multiple journeys and multiple devices. Feels about right, too? This video will help introduce it if ZMOT is new to you…
The over-arching ZMOT thinking, led by Jim Lecinski at Google, is more great stuff for people trying to sell something to someone, it hails further signals that, as marketers, we all really need to wake up to. It's just as you'd expect from the might of Google's content marketing too; there's some fantastic insight and it's well researched based on insights from organizations such as Nielsen.
It's a concept orientated (though far from exclusively) towards online retailers, which makes sense given Google's commercial goals to sell retailers their advertising opportunities. Armed with 'ZMOT', Google are recognising the fact that for the next generation of consumers, the line between online and offline retail is already gone, 'ZMOT' helps Google brand a benefit orientated sales pitch to help retailers do something about it.
Google's Jim Lecinski starts by talking over his personal example ZMOT customer journey which I've paraphrased below…
Can you spot where the ZMOT takes place? Yep, steps 3-5.
Not even close! Let's appreciate that Google wants to sell, they need a big campaign idea to promote with, so it's important to have some filtering in place in order that we can weed out the actual value vs the necessary creative hype that might blindly send us into a new obsession with mobile advertising 🙂
A little like McKinsey's fantastic and simple Consumer Decision Journey, I believe ZMOT to be a similarly re-engineered sales funnel, the funnel itself is very evolved and very alive, it's a funnel on its side... What Google are actually revealing is that the early major stages of activity in the funnel are different now. The *way* we research, the sources, methods and devices is much more complex. What remains common is that fewer and fewer people logically progress through the stages, the first and second moments of truth. So just like McKinsey's Consumer Decision Journey, I'd suggest that ZMOT is a funnel of sorts, more at the early stages and less at the latter.
McKinsey's Consumer Decision Journey and Google's ZMOT are very similar though differ in what they focus on in regard to post purchase behaviours. ZMOT appreciates that there's a likely response (positive or negative) based upon the product experience - where consumers might 'do something' such as share, rate, comment or post words, pictures or video somewhere about their experience, this in turn creates or supplements someone else's ZMOT. McKinsey, on the other hand, talk about the continuation of the shoppers journey into repeat purchase and loyalty. I think both of these models offer important perspectives post purchase.
"Why would people make decisions based on the opinions of strangers? They don’t. They make decisions based on the opinions of people like themselves. Which is who they find at ZMOT" Jim Lecinski
"The average number of information sources used by shoppers DOUBLED from 2010 to 2011" Professor David Bell
Google talk about winning at the ZMOT, I think that's possibly a little misleading. You don't win, you help the consumer on their journey and then monitor and measure the amount of attention and trust that you get as a result, ultimately in how many attributable sales that your efforts generate. Let's not make this complicated either, it's content marketing (or inbound marketing if you're that way inclined) at multiple stages of the buy funnel. Something we've covered before and created a content marketing info graphic to go with it.
Given that you're unlikely to be able to beat every competitor on price and warehouse inventory, Google advise that you need to beat those competitors at the point of ZMOT, where decisions are made outside of price alone. This is done whilst also bringing the same quality of content into your website by giving the consumer the information that they need at point of purchase to confidentially make a decision. Again it's relevant content at that point on the journey.
“There’s evidence that customers acquired by word of mouth actually have higher lifetime value than others.” Jim Lecinski
"UnderStanding lifetime value — that’s the way online marketing is headed," says Google, "Because the digital world makes it possible." I don't mean to be rude, Google, but the LTV thinking has been around for a long time now and might rile a few of those direct marketing traditionalists! Probably the best book ever written on customer orientated marketing remains Pepper and Roger's 'One to One Field book' (1999), in fairness they too were suggesting this some time ago. How do you find ZMOT? Brilliant or Bollocks?
By Danyl Bosomworth
Dan helped to co-found Smart Insights in 2010 and acted as Marketing Director until leaving in November 2014 to focus on his other role as Managing Director of First 10 Digital. His experience spans brand development and digital marketing, with roles both agency and client side for nearly 20 years. Creative, passionate and focussed, his goal is on commercial success whilst increasing brand equity through effective integration and remembering that marketing is about real people. Dan's interests and recent experience span digital strategy, social media, and eCRM. You can learn more about Dan's background here Linked In.
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