I've used a new Google service to produce an infographic (actually 4 separate ones) that outline how the multi-channel shopping experience has changed.
Showing posts with label shopper. Show all posts
Showing posts with label shopper. Show all posts
Monday, November 11, 2013
Wednesday, October 16, 2013
The Moments of Truth
Most savvy marketers should now be familiar with the concept of the first and second ‘moments of truth’. The idea (pioneered by P&G over a decade ago) that there are several key points in the shopper’s journey which should be recognised and supported, is now pretty much part of the vocabulary of modern retail marketing.
The First moment of truth (FMOT):
When a shopper decides to purchase an item (e.g. reaches for the product sitting on a supermarket shelf)
The Second moment of truth (SMOT):
When the shopper gets the product home and starts to use it.
More recently Google identified the Zero Moment of Truth. This was explained as being the online decision-making process that takes the multi-channel shopper from the initial point of stimulus through to the first moment of truth.
The theory is that by being aware of these stages in the buying process means, we can craft message and experiences around these points to encourage and persuade shoppers to buy. However Google’s Zero Moment of Truth, or ZMOT as it is referred to, needs more than a brief explanation of how it actually works in practice across the a digital world. Google's model highlights that there is now a new critical moment of decision that happens before consumers get to the supermarket shelf. That regardless of the products sold, customers and shoppers (the two terms here are pretty-much interchangeable) decision on what product to buy is made up. However, it is not necessarily persuaded by just one factor or one message via a single source… but by a complex combination of lots of messages, many of which are via digital marketing channels.
You can find out more about it here: http://www.zeromomentoftruth.com
However these models aren't really that new or revolutionary. Back several years ago I used the acronym AIDA in several posts to refer to a very similar marketing concept. This explained that there are 4 steps along the path to purchase of: awareness, influence, decision and action. This process takes the shopper up to the point when they commit themselves to purchasing… in other words up to the first moment of truth (FMOT).
In my opinion… What Google has done with ZMOT is to give a name to the two steps of influence and decision, shaped for the modern generation of multiple channel users.
Or to break it down in a way that I find easy to understand, I've created the following diagram which shows how I think these different approached come together:
The First moment of truth (FMOT):
When a shopper decides to purchase an item (e.g. reaches for the product sitting on a supermarket shelf)
The Second moment of truth (SMOT):
When the shopper gets the product home and starts to use it.
More recently Google identified the Zero Moment of Truth. This was explained as being the online decision-making process that takes the multi-channel shopper from the initial point of stimulus through to the first moment of truth.
The theory is that by being aware of these stages in the buying process means, we can craft message and experiences around these points to encourage and persuade shoppers to buy. However Google’s Zero Moment of Truth, or ZMOT as it is referred to, needs more than a brief explanation of how it actually works in practice across the a digital world. Google's model highlights that there is now a new critical moment of decision that happens before consumers get to the supermarket shelf. That regardless of the products sold, customers and shoppers (the two terms here are pretty-much interchangeable) decision on what product to buy is made up. However, it is not necessarily persuaded by just one factor or one message via a single source… but by a complex combination of lots of messages, many of which are via digital marketing channels.
You can find out more about it here: http://www.zeromomentoftruth.com
However these models aren't really that new or revolutionary. Back several years ago I used the acronym AIDA in several posts to refer to a very similar marketing concept. This explained that there are 4 steps along the path to purchase of: awareness, influence, decision and action. This process takes the shopper up to the point when they commit themselves to purchasing… in other words up to the first moment of truth (FMOT).
In my opinion… What Google has done with ZMOT is to give a name to the two steps of influence and decision, shaped for the modern generation of multiple channel users.
Or to break it down in a way that I find easy to understand, I've created the following diagram which shows how I think these different approached come together:
Wednesday, May 22, 2013
Offer sites are NOT digital shopper marketing
I was recently shown the discount & offers website Casabu and was quite impressed with it. This useful registration-based site has several promotions that offer up to 90% discounts for items that mums might want to buy for their children.
This site was shown to me by a friend as with the description "Hey, you work with digital shopper marketing projects. This is a great example of an online shopper website". However, on this point I took exception.
In my opinion sites that provide discounts and promotions are not digital shopper marketing initiatives, they are what they are... useful platforms for registered people to buy a restricted set of products at heavily reduced prices.
For me, digital shopper marketing sites (in theory part of your multi-channel shopper marketing strategy) should not just give you offers or promotions, which are tasks that you carry out once you've decided to make your move towards purchase. Online shopper marketing should also be there to to guide and influence the shopper's decision to buy with persuasive content.
This site was shown to me by a friend as with the description "Hey, you work with digital shopper marketing projects. This is a great example of an online shopper website". However, on this point I took exception.
In my opinion sites that provide discounts and promotions are not digital shopper marketing initiatives, they are what they are... useful platforms for registered people to buy a restricted set of products at heavily reduced prices.
For me, digital shopper marketing sites (in theory part of your multi-channel shopper marketing strategy) should not just give you offers or promotions, which are tasks that you carry out once you've decided to make your move towards purchase. Online shopper marketing should also be there to to guide and influence the shopper's decision to buy with persuasive content.
Friday, April 12, 2013
Multi-channel shopper marketing
A couple of months ago I write a post about how I saw the discipline of shopper marketing (SM) evolve into digital shopper marketing (DSM) and then into Multi-Channel Shopper Marketing (MCSM).
Now I've had a little while to think about this some more and work with clients on this, I thought I would share some more of my thoughts and observations.
1. Shoppers are now multi-channel
It is not simply the case that online marketing influences online purchases and traditional marketing influences in-store transactions. Online and offline are now just different channels, each potentially contributing to the acquisition and retention of the customer over a range of time.
2. Influence has a huge part to play
The path to purchase starts with initial awareness and continues up to the point that the shopper reaches for the product. In between these two events, there is a wealth of channels, touch-points and devices that the shopper uses to make their purchasing choices. Google calls this the Zero Moment Of Truth (or ZMOT for short) and has produced a number of studies to show just how many information sources a modern multi-channel shopper uses before they commit to a sale.
3. The shopper is getting more savvy
We now live in an age of austerity for most people, where nearly everyone is watching what they spend (in a way, this is the way it always should have been). This translates to a change in shopper behaviour, where they now search around for the best price of brands / commodity products and a lot more now look out for discount codes and promotions. This has a clear effect on eCommerce sites, where a lot more visitors now jump out of the transaction funnel just before they compete the payment process...to look at voucher sites and to hunt down any relevant offers.
In the future I hope to dig into the ways that brands and retailers can utilise this behaviour and get the maximum benefit from the new ways that multi-channel shoppers act.
Now I've had a little while to think about this some more and work with clients on this, I thought I would share some more of my thoughts and observations.
1. Shoppers are now multi-channel
It is not simply the case that online marketing influences online purchases and traditional marketing influences in-store transactions. Online and offline are now just different channels, each potentially contributing to the acquisition and retention of the customer over a range of time.
2. Influence has a huge part to play
The path to purchase starts with initial awareness and continues up to the point that the shopper reaches for the product. In between these two events, there is a wealth of channels, touch-points and devices that the shopper uses to make their purchasing choices. Google calls this the Zero Moment Of Truth (or ZMOT for short) and has produced a number of studies to show just how many information sources a modern multi-channel shopper uses before they commit to a sale.
3. The shopper is getting more savvy
We now live in an age of austerity for most people, where nearly everyone is watching what they spend (in a way, this is the way it always should have been). This translates to a change in shopper behaviour, where they now search around for the best price of brands / commodity products and a lot more now look out for discount codes and promotions. This has a clear effect on eCommerce sites, where a lot more visitors now jump out of the transaction funnel just before they compete the payment process...to look at voucher sites and to hunt down any relevant offers.
In the future I hope to dig into the ways that brands and retailers can utilise this behaviour and get the maximum benefit from the new ways that multi-channel shoppers act.
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