The digital age as we know it is GONE!
by: BrandbourneThe digital age has changed how customers research products and services. The new norm is to research online before making a purchase, or even while they are in-store.
According to the report issued by We Are Social for Egypt, 51.9% of internet users search the products first before making a purchase and 32.1% research certain brands.
The same report also suggests that 25.2% of social media users search for products before purchasing them, making social media not only a way of communication, rather a way of platform of finding info.
Such change in consumer behavior is named has been coined by Google as Zero Moment of Truth.
What is the Zero Moment of Truth?
The Zero Moment of Truth (ZMOT) refers to the moment in the buying process when the consumer researches a product prior to purchase.
The foundation of the ZMOT is rooted in the traditional 3-step mental model of marketing. These steps can be defined as follows:
|
Stimulus |
|
|
First Moment of Truth |
|
|
Second Moment of Truth |
|
Effectively, the consumer was told they need to buy something (Stimulus), so they went to a store. They browsed the products and perhaps spoke to a store assistant about the selection of products and which one they should choose (First Moment of Truth). Then they went home and used the product (Second Moment of Truth). This isn't the model for how buying works anymore.
Zero Moment of Truth acknowledges that consumers:
- Perform research on a product before making a purchase
- Consult a range of information sources before making a purchasing decision (up to 10 or more!)
This means that companies and brands must utilize digital channels for this matter. The challenge for many businesses is that they don't have the resources or the know-how to utilize the ZMOT effectively.
The good news is that we are here to get started.
Send us a message and one of our consultants will give you a personalized consultation.