We know moment of truth as that particular point of time when, the customer decides to buy the product. In a retail scenario it would be that instant when the shopper picks the product and places it in the cart. In the book Winning the Zero Moment of Truth, Jim Lecinski, has come up with a concept which he terms as Zero Moment of Truth, or ZMOT.
The book talks about the concept of zero moment of truth, which in essence is that point of time, which actually precedes the moment of truth. Earlier shoppers knew much less about the products available than they do now. The first moment of truth was that point when shoppers came to know about the product and decided whether they should buy it or not. ZMOT is that instance where you go searching online for reviews about your product, or you look for more information about the restaurant you have in mind, on your mobile phone.
Zero moment of truth, has come to offer the consumer a lot of benefits. It helps you save much time, you are able to get the views of millions of people from across the world, and as a consumer, you are in charge of what you decide, and you have adequate knowledge to back your decisions with.
The book also says that marketers should be able to meet potential customers at ZMOT directly, or indirectly my facilitating reviews, comments and ratings, or by using online communities or forums. We have already seen how Kleenex, used popular social networking site Facebook to reach out to people suffering with cold. This is nothing but a meeting of the marketer and the consumer at ZMOT.
The book also talks about how consumers have changed their buying decision making, and the evolution of a new mental model. The author also writes about how marketes can, and should act and win at Zero Moment of Truth.
The book talks about the evolving psyche of the consumer in the age of information and social interaction. Technology has not just changed the way businesses work, but it has also changed the way in which consumers now look at products, and make buying decisions. This book is a must read for every marketer who seeks to thrive in days to come, where the consumer will only become more powerful.