In our previous article, we discussed Online Reputation. However, the issue is extended to become the most decisive aspect for consumer purchasing action today. Today, when consumers hear about a product, their first reaction is "I'm going to look it up on the Internet."
According to multinational mass consumption companies, the most critical moments that affect the purchase decision (first moments of truth) happen, first when the consumer is in front of the supermarket shelves or shelves and must decide which product to buy from between the variety that is presented (eg deciding which cereal to buy when you have a great variety on the shelf), and secondly when you consume the product and feel satisfied or not about it.
Now, thanks to the culture of Internet use, consumers today research everything they can about the products they want to buy before going to the stores to buy them. They review information from multiple sources about the brands and products that interest them. They navigate, investigate, explore, dream and appropriate the information to feel secure in the purchase they will make. In turn, in addition to the knowledge they acquire, they share their opinions and information with other people online through forums, blogs, videos and social networks.
This is what Google today calls " The Zero Moment of Truth ", and it happens on the Internet long before going to make the effective purchase.
The consumer through the Internet determines to a large extent, the brands that will be part of his shopping list, the stores that he will frequent and the people with whom he will share the results. Being present in this new moment of decision-making and providing buyers with the information they naturally require, and in all possible ways, is an imperative today for brands and their supplier companies.
El nuevo consumidor es una persona que no se conforma con aceptar lo que la publicidad tradicional le dice acerca de las marcas, productos y servicios, sino que decide ir en búsqueda de la verdad haciendo uso de todas las herramientas que conoce a través de Internet e interactuar con otros acerca del tema. Esto está cambiando las reglas del mercadeo y se repite millones de veces al día desde cualquier lugar en el que el consumidor se encuentre usando teléfonos móviles, tablets, laptops, computadoras personales, y en general cualquier dispositivo con conexión a Internet.
According to multiple surveys, 70% of Americans say they read reviews of products before buying. 79% of consumers say they use a smartphone to make decisions when shopping. 83% of mothers say they search the internet for the products that interest them after seeing the ads on television.
Brands through their marketing specialists traditionally invest a tremendous amount of energy and money in the first two moments of truth cited above, however the question now being asked is: Are they winning at Zero Moment of Truth? ?
Traditional marketing defines the consumer's mental model in three crucial moments: Stimulus (through advertising), Purchase (the action of acquiring the product in the store where the message is reinforced and multiple options are achieved: first moment of truth) and Experience (the use of the purchased product: second moment of truth).
Now, with the use of the Internet, there is a new stage in the consumer's mental model, which arises between the Stimulus and Purchase stages.
Let's give as an example the purchase of a cell phone. First, the consumer sees an advertisement for the phone on television or in a magazine, then proceeds to search the Internet with the phrase "Characteristics of the model X cell phone", and obtains multiple results from various media (eg. digital magazines), as well as blogs, and other websites, reading all the comments that interest you. Then he decides to send a message through Twitter and Facebook saying "Can someone who bought the Model X cell phone tell me where they are cheaper?" In turn, go to YouTube and search for demo videos of the phone you want.After all this, his opinion is created that determines whether or not he will buy said model of phone and where he will buy it (if he does not buy it directly online), with which the Zero Moment of Truth has been produced..
The funny thing about all this is that although the general behavior is that consumers are spending the same amount of time watching television as they are surfing the Internet, the advertising investment of brands on the Internet does not exceed 15% of their budget.
It is important to highlight that the Zero Moment of Truth not only applies to consumption, but also applies to all sectors, including education (decision of a course or university degree), politics (decision of who will vote for), among others, in addition to commerce at the consumer level (B2C) and commerce between companies (B2B).
According to a study conducted by Google, an average buyer uses 10.4 sources of information to make a decision this year (from TV ads and magazine articles, to recommendations from friends and family, websites, ratings and online blogs), compared to 5.3 sources in 2010. The number nearly doubled in one year, demonstrating how difficult it is for marketers to capture the attention of consumers today. In turn, 84% of buyers assured that their Internet research was decisive in their purchase decision (along with the Stimulus with 76% and the First Moment of Truth with 77% that are still just as important).In turn, 54% resorted to online product comparison. Overall, what has changed is that the stimulus now drives consumers to make an additional stop on their way to purchase.
What are the characteristics of a Zero Moment of Truth?
• Occurs online: Usually starts with a search on Google, Bing, Yahoo, YouTube, or another search engine or tool.
• It occurs in real time, at any time of the day. It happens more and more frequently when we go from one place to another: mobile searches on Google have doubled in the last year.
• The consumer is in control, that is, he extracts the information he wants, instead of passively receiving it from other people.
• It is determined by emotions: the consumer wants to satisfy a need and involves his emotions to find the best solution.
• Interaction is multi-directional: Marketing specialists, friends, strangers, websites, and experts voice their opinions and compete to grab attention.
The great potential of this trend is that if your brand or company is willing to work on adding the value sought by consumers to satisfy their needs and desires, through the publication of information and interaction through the Internet, they will be able to establish a close relationship with consumers. Which will lead to the final moment of truth: when the customer returns to buy your product.
And please don't forget that if we listened to customers every day on the Internet, they would tell us what they want and need.
Success for all…
