What converts a window shopper? There are hordes of people surfing online for random things and they end up buying from ecommerce sites. Jim Lecinski, Google’s VP for US sales and service mentioned the concept of ‘first and second moments of sale’, the point of purchase and moment when consumers first use the product, may have given way to a “zero moment of truth”.
There are several Zero Moments of truth in online sales.
Why should online sellers care for it?
ZMOT needs much thought because consumers have drastically changed their pattern of decision making with forming an opinion on brands and products even before reaching a store and conversing with a store assistant or visiting an online store that sells the product. The internet throws a dozen opinions even before one starts to look at a product today. So, the savvy customer, unless he’s living under a rock knows the selling points of a new phone, device or car when it’s about to be launched. There is no linear process from marketing to shopping, among customers. Heck, they don’t even start with the idea of buying a product they end up buying. The decision to stick to a brand or choose another depends, end of day, on the click of a button.
Consumers have a series of resources online to help them buy. In other words, there are thousands of ZMOTs. Consumer reports, comments and feedback, ratings, questions and answers posted by other buyers and users, study on alternatives etc. so, marketing is forced to think of several such factors.
Marketing is not always towards heavy users. Focus is on ‘Heavy Influencers’. The average buyer is not a heavy influencer. But the blogger and online reviewer with a sizeable and significant following is definitely a heavy influencer. Converting such a heavy influencer is more important than converting individual buyers. A personal recommendation from a makeup vlogger on a certain beauty balm cream is much more effective than a print ad. The smart marketer reaches to these selected heavy influencers to multiply the effect of campaigns.
Online sales today needs to do away with models of traditional purchase funnel. Metrics and key performance indicators are all about building awareness, consideration and preference today.
Check out 5 tips to spruce up your online sales
Ground work for a purchase is about creating consumer awareness and is not centred on making the consumer swipe his card right that moment. Traditional marketing was all about instant gratification: get the customer to spend right that moment. Today, it’s about forging a great relationship with him, reaching out to him when he needs the product and being there for him. So, marketing managers stress on engagement with current customers, building positive customer experiences and advocacy.
Social media means a lot to marketing channels. We have reached a point where consumers do not remember where they were exposed to a brand first. The Zero Moment of Truth is driven by consumer-generated recommendation. A facebook post telling someone else that a movie is great and worth a watch is more effective than a paid trailer targeted at potential movie audience. Every marketing campaign needs to think about how ‘social’ the process can be made.
7 tips to get the social media customer service right
Yes, the human race loves a discount. Whether it’s traditional marketing or new age marketing and sales, people cannot resist getting a discount. Value for money is a key indicator that dictates expenses. So, a coupon from Groupon and LivingSocial, or value-based e-commerce platforms like Amazon and Auction.com, can help a lot marketing platform.
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