What’s one important aspect about the internet that comes to mind? For starters, it behaves a certain way on regular days, but when you think of buying, you will likely see a whole different side to it. As you move down the path to make a purchase, there are certain moments that influence the most critical parts of your buying process such as the following:
- The moment you decide to explore a specific product category
- The moment you consider a differents sellers of the product
- The moment you decide on one product and then purchase it
A large majority of people in the marketing world identify these as moments of truth. Today, prepare to learn about the Zero Moment of Truth or ZMOT for short, its benefits, and how intent data fits in.
ZMOT is the moment within a buyer’s cycle in which a prospect sees an ad for a specific product. At this moment, a prospect researches a particular product they’re interested in prior to reading the information provided by the seller. Because the prospect is already researching a potential solution, the probability of converting them at this point is incredibly high. Marketers who thoroughly understand the proper application of ZMOT are likely to bring more business to their organization on a monthly basis.
Zero Moment of Truth’s Origin
Zero Moment of Truth (ZMOT) originated in 2011 according to a study conducted by Google. The study reflected how buyers’ behavior is ever-changing and below are some noteworthy statistics as proof:
- 50 percent of sellers used a search engine to research a product or brand
- 38 percent comparison shopped online reviews, prices, and so on
- 36 percent checked out a seller’s website
- 31 percent of buyers read online reviews and recommendations
What Exactly Is ZMOT All About?
The purchase cycle of a product usually comprises three stages including stimulus, first moment of truth, and second moment of truth.
- Stimulus refers to realizing the need to buy
- First moment of truth refers to buying a product
- Second moment of truth refers to using a product
However, with the advent of the internet and the buyer’s journey transitioning online, there’s an addition to the three-step model.
- Zero Moment of Truth, which refers to the moment between the stimulus and the first moment of truth
- The first moment of truth
- The second moment of truth
Furthermore, it’s important to understand these four stages in addition to examples in which a customer experiences ZMOT during a B2B buying cycle.
- For example, Thomas, a chief marketing officer at a Martech company sees an ad on YouTube for a video-making software. Since he’s already looking forward to making videos for his marketing campaigns, the ad acts as a stimulus.
- Next, Thomas does more research by reading through product reviews, comparing blogs, and referring to guides in order to find the right software for his company. The time he spends researching is known as the zero moment of truth.
- From here, after hours of research, Thomas buys the software. This is the first moment of truth where a customer comes face-to-face with a specific product for the first time.
- As a result of his decision, Thomas had a great experience working with the newly bought software since he can create videos at a much faster pace. One’s experience with a product is known as the second moment of truth.
The Meaning of Various Moments of Truth
Put simply, moments of truth are experiences with a product that influence a person’s buying behavior. The zero moment of truth is a testimony of how buying behavior is ever-changing with the added benefit of buyers being empowered with useful information. If a company’s goal is for potential buyers to stick around and buy from them, it’s important to guide and provide potential buyers with valuable content at regular stages of their customer journey.
The Valuable Role Intent Data Plays In ZMOT
Every time an individual decides to buy something, they likely grab their laptop or smartphone to learn about the product or service they intend to purchase. While performing various web searches, prospects leave digital footprints or intent signals that reflect their interests. In the process, they reveal their intent to buy a particular product or service. Intent platforms are useful in many ways, especially because they analyze billions of intent signals across the web, ad networks, and social media from thousands of locations in order to develop predictive layers. These types of layers can offer insights into which organizations are more likely to buy from your brand.
Meet Prospects In the Zero Moment of Truth (ZMOT)
In addition, a buyer’s journey is no longer linear. Instead, it has become more complex and competitive in recent years, which is one main reason why timing really matters. It’s crucial to reach prospects when they are facing a challenge and are actively looking for a solution. Alternatively, though, prospects can also be reached during their zero moments of truth. At this point in time, creating a campaign isn’t enough. Brands need to focus on timing, context, and relevance in order to engage with potential buyers at their zero moments of truth.
Overall, intent data is known to provide an array of benefits, and it can help brands in the following ways:
- Recognize buyers at the right moment
- Tailor the right message for an account
- Prioritize accounts on the basis of buying intent
- Precisely engage with accounts
- Reduce the waste of resources
- Increase quality engagements
- Better ad targeting
In the age of instant and immediately accessible information, customers are almost always in constant contact with a seller. Fortunately, the use of intent data can lead to better personalization and sales prioritization. Why not leverage these moments of truth in order to understand your customers better and help them understand you better? To continue learning and developing, check out any of these useful and informative articles below!