What is the New Buyer Mentality or The Tale of “ZMOT, FMOT & SMOT”

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Information is power. Let’s agree to agree on this. Everything we do here at Waypost—every social media post, blog article or campaign—is based on information, data, statistics, or other informal sources of knowledge. But we, an inbound marketing agency, are not the only ones doing it.

Information … or rather access to information has forever changed the way consumers make their buying decisions. And, of course, if they change the way they choose a product, your sales and marketing processes should also change.

According to a Google research, 88% of US customers are researching online before actually buying the product. So, instead of hoping to catch your buyers in the last phase of the buyer’s journey, you should now be a part of that journey from the very beginning, at the Zero Moment of Truth.

What Has Changed?

There is a reason why we trust our childhood friends more than others. It’s simple, we have a history with them. The same logic applies to your brand and customers; you need to be by their side before they are ready to buy. Consumers are more likely to choose a brand they are familiar with, trust and have previously had a positive experience with, than a strange new brand that's selling to them.

Think like a customer: you have a need or a problem. You also have a lot of questions... questions like

  • How much will the solution cost?
  • What are the pros and cons?
  • Are there any hidden costs?
  • Are there any guarantees?
  • What are the alternatives?
And so on. The brand that manages to answer these questions when you're just browsing secures your trust and possibly the future purchase—even if the purchase doesn’t happen that day, or within a week, or within a month. You will eventually make the purchase decision or, even better, spread the word about the brand and the information they shared with them.

We told you, information is power! Use it well.

Back to the New Buyer Mentality. Here’s what the traditional process looked like before Google introduced the Zero Moment of Truth.

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Image Credit: Google

  • Stimulus is the exact moment the customer feels a need for a product or a solution for a problem.
  • First Moment of Truth happens when a buyer enters your store, office or comes across your product on the shelf. They are scanning the possibilities, including you and your competitors. 
  • Second Moment of Truth happens when the customer has already bought your product, took it home and has had their first experiences with it. If you have successfully delivered the promise, you've won the SMOT.

In many cases, you might also find an additional step called TMOT (Third Moment of Truth) or UMOT (Ultimate Moment of Truth). It happens when a buyer shares their experience and promotes your brand with a testimonial, review or simply tells a few friends. In inbound marketing we like to call it the Delight stage. 

And this is what the new buyer’s journey looks like.

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Image Credit: Google

As customers have the freedom to do hours of research before they head out to your store, ZMOT becomes the biggest stage of the process.

Zero Moment of Truth happens when a customer goes online to research and have their questions answered.

So, how do you win the Zero Moment of Truth?

Every second there is someone asking Google about their issue, and they might not even know what exactly their issue is at the moment. Thousands of people are browsing the forums, review websites, social media, and other websites for answers, because they want to have information before they are ready to face your salespeople.

To win the Zero Moment of Truth, you need to know what questions your customers are asking. What information can you share with the readers to make them more educated about your service? What are their challenges and concerns? And many more! If you are a business delivering professional services to people’s homes, the profiles of experts who will visit them might be what your consumers are wondering about. So, go ahead and make that information available for them on your website. Job easily done, ZMOT possibly won!

Your consumers will not only say thank you for your transparency and the knowledge they received, but they will also trust you more than your competitors. By the time they are ready to buy, you already have a strong relationship with them. Good for you!

Now that you know about the New Buyer Mentality or simply ZMOT, FMOT and SMOT, go ahead and learn more about the Zero Moment of Truth and how to win it. Download our free ZMOT eBook below and use it to the benefit of your business. 

Download our free e-book on the zero moment of truth

Posted by Larisa Aslanyan on May 24, 2016 in Digital Marketing, Inbound Marketing, Storytelling, new buyer mentality | 0 Comments