Winning the zero moment of truth in Canada

Sat, 02/23/2013 - 22:21 -- admin

 

I had the chance to attend the launch of Google's Engage program in Canada a while ago. Google presented his latest study on the mental model of marketing and how it changed with online media. They introduced the Zero Moment of truth (ZMOT) to demonstrate how important the web is for businesses, so I think it is a good theme for the first blog post.

ZMOT in a nutshell

The first moment of truth between a brand and potential customers used to be in the shelf/store. But today people research before deciding to visit a store. Searching online is at the same level or eclipsing friends and family as a source used in the purchase process, which is a first. 84% of all shoppers use ZMOT sources in the path to purchase.

What are the top sources of information people use?

  • 50% Searched online with a search engine
  • 49% Talked with friends / family about the product
  • 38% Comparison shopped products online
  • 36% Sought information from a brand/manufacturer website
  • 31% Read product reviews online
  • 22% Sought information from a retailer website
  • 22% Read comments following an article online
  • 18% Became a friend/follower/”liked” a brand

What does it takes to win the ZMOT?

A very simplistic way to explain what needs to be accomplished would be to take that list of sources and make it a checklist. If people search online, make sure you show up there, if they read reviews, make sure they are positive and if they seek for information in the website make sure they get it. These are some of the goals of SEM (Search Engine Marketing) and this is where the digital marketing comes into play.

How are Canadians doing in the ZMOT competition?

It seems like Canadians consume a lot more online than what they produce. Canadians are the heaviest users of the internet in the world. But still Google estimated more than one million small businesses in Canada who do not yet have a website. They explained how the internet contributes to 3% a year to the Canadian economy, and it's projected to increase 7.4% annually through 2016. Many business are still behind but they are rapidly coming up and looking to improve their online presence.