Nowadays Customers Behavior (Zero Moment of Truth ZMOT concept).
Customer behavior is one of those changes that we normally underestimate and overestimate. The reason is the fluctuation that we are observing in general and online businesses. They have so many options that they cannot restrict themselves with a specific trend or style in the market.
Let us look deep into it!
It was 2007 when Amazon was only an online bookshop for the most, the iPhone was ready to inspire the customers for the very first time, and Facebook was finding a way to impress the internet users. At that time, shopping was altogether a different experience. Most of us were going to the market and malls for shopping, and no one was thinking about online shopping. Comparing the prices was an uphill task, and we were just relying on the discounts that big brands were offering to us.
How did we permit the digital world to help experience the new trends of shopping in a new way? Well, the reason is obvious! We are living in a digital world, which has changed the overall concept of life throughout the world. What has customer experienced till today, and what are the paradigm shifts? We will discuss it in this article.
As we are comparing the current world with 2007, so we will see how the customer experienced this paradigm shift since 2007, and how smartphones and social media platforms like Facebook, Twitter, Instagram, and Amazon impacted our lives.
To become more specific towards the topic, we will discuss ZMOT ( Zero Moment of Experience), which has improved the customer decision capability, We will compare it with the retail-focused model, the First Moment of Experience.
First of all, we will describe the first moment of truth to help you understand the difference between different shopping trends.
First Moment of Truth
In 2007, the customers walked into the shopping mall, department store, or local market for buying soap. They found numerous brands there. Now, the decision was yours! Whether went for a brand that you were already using, chose a beautifully packed product, bought the product after reading the instructions and details on the pack or got inspiration from print and electronic media advertisements.
The above discussion confirms that customer behavior depends on three different approaches. First, he wants to experience a new product after getting inspiration from marketing strategies. Second, in the case of getting satisfaction from the product, he chooses the product once again. Third, he becomes loyal customers. It is a whole journey that is called customer satisfaction.
However, we can see that there is no existence of digital marketing or online shopping in 2007. So, we will add digital in our discussion to tell you how it mixes with others, and how ZMOT works in the current world.
Zero Moment Of Truth
Now in 2020, we, as a customer, have numerous shopping options, especially via online shopping.
The reality is that we still prefer physical stores for general shopping but online shopping has attracted every smartphone user a lot. E-Commerce stores like Amazon and Walmart remain in our smartphones all the time to visit and shop what is new. According to some surveys, more than 60% of smartphone users prefer online shopping.
More importantly, the customers can compare the products with a smart search via search engines. For example, in the case of buying soap, they will search like “the best soaps in the United States”. Against this search, they will thousands of links through which they will choose the best one accordingly. It is what we call the Zero Moment of Truth.
Digital channels are also playing an important role in the whole shopping journey. For example, social media platforms are very important among the shoppers that have changed the customer decision journey as a whole.
The difference that ZMOT has created is in implementing the first marketing framework. It means that the companies are now giving more importance to digital marketing, as it has more influence than any other marketing strategy. Its importance has educated the companies that they need to give important to search engine optimization and search engine marketing more than any other option for engaging the customers more enthusiastically.
How did ZMOT affect the First Moment of Truth?
As we have described earlier that customer behavior depends on three different stages. The first stage is stimulation, the second stage is the First Moment of Truth, and the third step is the experience. With the introduction of ZMOT, the customer now finds out the information about the product through the internet, selects the best product for them according to his taste, budget, and preference, and buys it via e-Commerce stores. Therefore, the whole concept behind FMOT has changed.
How do the customers behave now?
Now, the customers conduct preliminary research via search engines before deciding to buy any product. Google also confirms that customers use the internet before shopping whether they need new clothes or a home. It gives them an idea about the prices of a product. In this way, they get success in comparing the products, and therefore, they know much about a specific product. It helps them understand the actual value, and the companies find the manipulation with the customers more difficult than the past. They also prefer those products or services, which are liked and shared by the other customers in digital channels. At this point, online reputation has become more relevant for the companies, and they try their maximum to manage it up to the maximum.
The value of ZMOT for the businesses
The ZMOT has become the most integral part of the company to determine a product’s success. It becomes more important for businesses to maintain the standard of the product and keep the customers engaged with them. In the internet era, customers share their experiences with their loved ones and other customers. Google says that without ZMOT, the consumer behavior cannot be calculated, and businesses need to ensure that their product must pass the test of the Zero Moment of Truth.
The experts recommend that the businesses and traditional marketers should not be scary after thinking about ZMOT, as it is not becoming a hurdle for them; rather it will help them understand what customers exactly want and how they should be addressed accordingly.