Jump to content

Moment of truth (marketing)

From Wikipedia, the free encyclopedia

This is an old revision of this page, as edited by 181.137.174.241 (talk) at 13:39, 12 October 2018 (→‎Types of MOT). The present address (URL) is a permanent link to this revision, which may differ significantly from the current revision.

For other uses, see Moment of Truth (disambiguation).

Moment of truth (MOT) in marketing, is the moment when a customer/user interacts with a brand, product or service to form or change an impression about that particular brand, product or service. In 2005 A.G. Lafley Chairman,President & CEO of Procter & Gamble coined two "Moments of Truth".[1] A third was introduced later.[2]

Types of MOT

  • First moment of truth (FMOT): When a customer is first confronted with the product, taking place either offline or online. [3] It occurs within the first 3-7 seconds of a consumer encountering the product and it is during this time that marketers have the capability of turning a browser into a buyer [4]. Procter & Gamble describe the first moment of truth as the "moment a consumer chooses a product over the other competitors offerings".[5]
  • Second moment of truth (SMOT): When a customer purchases a product and experiences its quality as per the promise of the brand.,[6][7]. There can be multiple second moment of truths for every time the product is consumed (used)[8], providing the consumer with information for future purchases and for sharing their experience with the product/service.[9]
  • Third moment of truth (TMOT): Consumers feedback or reaction towards a brand, product or service i.e. consumer becomes brand advocate and gives back via word of mouth or social media publishing.[10]
  • Zero moment of truth (ZMOT) is a term coined by Google in 2011,[11] it refers to the research which is conducted online about a product or service before taking any action i.e. searching for mobile reviews before making a purchase. The internet has changed altogether the way consumers are interacting with brands, products or services this online decision-making moment is termed as ZMOT. According to research conducted by Google, 88% of US customers are researching online before actually buying the product.[12]
  • Actual moment of truth was identified by Amit Sharma, Founder & CEO of Narvar, to describe the new post-purchase experience gap created by the advent of online shopping, after a consumer has made a purchase but before they've received the product.[13]
  • Ultimate moment of truth (UMOT) was proposed by Brian Solis. See en.wikipedia.org/wiki/What's_the_Future_of_Business?

Further reading

References

  1. ^ Lafley, A. G.; Charan, Ram (8 April 2008). "The Game-Changer: How You Can Drive Revenue and Profit Growth with Innovation". Crown Business. Retrieved 12 March 2018 – via Amazon.
  2. ^ "Marketing: The 4 Moments of Truth [Chart] - Heidi Cohen". heidicohen.com. 27 June 2013. Retrieved 12 March 2018.
  3. ^ Hyken, Shep. "The New Moment Of Truth In Business". Forbes. Retrieved 12 March 2018.
  4. ^ "Examples of the First Moment of Truth (FMOT) in Digital Signage". wirespring.com. Retrieved 12 March 2018.
  5. ^ "Procter and Gamble 2006 Annual Report" (PDF). pg.com. Retrieved 12 March 2018.
  6. ^ Marketing, On. "Google's Micro-Moment: Why It's A Game Changer For CMOs". forbes.com. Retrieved 12 March 2018.
  7. ^ Digital Darwinism: Branding and Business Models in Jeopardy (Page 51,52) By Ralf Kreutzer [de], Karl-Heinz Land [de]
  8. ^ Löfgren, Martin (2008). "Customer satisfaction in the first and second moments of truth". Journal of Product & Brand Management. 17 (7): 463–474. Retrieved 15 March 2018.
  9. ^ Bosomworth, Danyl. "The consumer decision journey [Infographic]". smartinsights.com. Retrieved 15 March 2018.
  10. ^ Leaders Talk Leadership: Top Executives Speak Their Minds (Page 113,114) ISBN 9780195152838
  11. ^ "ZMOT: Why It Matters Now More Than Ever". Think with Google. Retrieved 12 March 2018.
  12. ^ "The Zero Moment of Truth Macro Study". Think with Google. Retrieved 12 March 2018.
  13. ^ Hyken, Shep. "The New Moment Of Truth In Business". Forbes. Retrieved 8 March 2018.
Retrieved from "https://en.wikipedia.org/w/index.php?title=Moment_of_truth_(marketing)&oldid=863705300"