Do you go online to do some online research before you buy something? Would it surprise you that 70% of all Americans say that they do?
This is a new development in the purchasing sequence. This new things can be seen as a new moment of truth. The classical First Moment of Truth (FMOT) is when the consumer selects to purchase one brand over another. The second is when the brand either delivers… or doesn’t.
Jim Lecinski in his new book “ZMOT, Winning the Zero Moment of Truth” details what this predecessor to the FMOT looks like. It is online search, friends and family discussion, online comparisons, website info, online reviews and other sources that you have probably used. In fact, a study commissioned by Google said the average number of sources consulted per purchase just about doubled from 2010 to 2011. The study included purchases from very large to very small. The study also showed that the ZMOT was equally important in the purchasing decision to the older pieces of the buying sequence.
Wouldn’t a very good question be: Why was only 15% of media ad budget money spend online in 2010?
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