ZMOT is changing the buying cycle for consumers & businesses alike
The world has evolved so much in just the past half a decade. Apple wowed the world with multiple versions of iPads, iPhones, MacBooks, etc; Microsoft has offered the surface to the world; Samsung has become a player in the smartphone market with the Galaxy line of products and is credited as being one of the first companies to offer a smart watch. Why does all of this matter?
With this ever evolving world, it should have been expected that the almighty Google would be expanding with the times and taking claim over yet another aspect of the buying process. The old buying cycle used to be fairly simple. A person or company would decide they wanted or needed a product or service, located a place to buy from or be located to be pitched for the business, negotiated a price and bought. For example, if you wanted to redesign your website, you would ask your friend where they had theirs made, call the place and they would have a website. Nowadays, consumers are more likely to conduct a Google search of places that design websites, gather the necessary information and make a purchase. If you are thinking to yourself “that’s how I still do it” when referring to not conducting a Google search, you are sadly stuck in the pre 2010 times. Let’s break the buying process down for you.
Today, consumers are looking for the highest quality products for the cheapest price. Everyone is out to save a buck, no matter how much they deny that fact. People realize they are “in need of” a product or service and, like robots; all begin to do the same thing… RESEARCH. Yes, they turn to Google and other search engines to find out what other people think of a product they are looking at or what reviews a particular service provider got. People do this because they want the best product and they are worried about what others think. Welcome to the new generation of buyers.
Working in a new age marketing agency, something that is encountered all the time is the baby boomer generation belief that the world works without the internet. For a millennial, this is a hard thing to fathom. The fact of the matter is that none of this is going away, not anytime soon at least. The world revolves around technology and some of our younger children were not even alive when the letters “GPS” were only 3 letters in the alphabet, nothing more.
So how does this tie into ZMOT? The Zero Moment Of Truth is something very important to our buying cycle. The research we do is vital to not only us (the consumer) but it is important to the world around us (the brands and other consumers). We live in a crowd-sourced world these days. People offer their opinions on just about anything anyone will listen to. People like to complain, and complaining is only good when it is done in a fashion that everyone can see and hear. Reviews are very important to the way our buying cycle works. The research people put in has a lot to do with the amount of people that have reviewed a product or service. The internet and social media are two main places millennials look for reviews and research.
What does this mean to the business owner? EVERYTHING. If people aren’t talking about your company online, you’re a sitting duck; you might as well not exist. Companies that get talked about and have exposure online will do better because people know their names. Think about it, when you were in middle school and high school, who were the cool kids in school? What were their names? What made those kids so cool? See, you knew the answers to every one of those questions and remembered them like it was yesterday. This is how the world works now! People go online to learn about the products they want. People want to know that they are not having the wool pulled over their eyes, they want to feel comfortable buying. People need to feel a connection in order to move forward.
This is one thing that is not talked about enough. According to Google, 88% of corporate executives research products and services for their respective companies on a smartphone. Yes, 88%! What people don’t realize is you can just as easily lose an opportunity to sell your product or service by not having a strong online presence.
ZMOT matters, remember that. People now and forever will research products before they buy. The need to be educated and the need to pay the best price is something that people care about and it is ignorant not to acknowledge that fact. So here is the challenge. First, look at your digital presence, i.e. social media and website, are you happy with the way your brand is perceived? What are people saying about you and your company? Are they saying anything? If any of your replies were negative (a.k.a. NO) you have been hereby challenged to ask your clients to go online and write you a testimonial. If you are uncomfortable doing this, you might want to rethink what you are selling. Welcome to the new world, welcome to the ZMOT.
For more information on ZMOT or on MobileSeed, feel free to contact us at (973) 998-5742 or online at www.GetMobileSeed.com.