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    What is the Zero Moment of Truth?

    in Winning the Zero Moment of Truth (ZMOT)

    Last updated 4 years ago

    "When consumers hear about a product today, their first reaction is 'let me search for it online.' And so they go on a journey of discovery: about a product, a service, an issue, an opportunity. Today you are not behind your competition. You are behind the technology. You are behind your consumer." (Rishad Tobaccowala, Chief Strategy & Innovation Officer Vivaki)


    The buying decision has changed. Decisions aren't made at the grocery store freezer, the retail shelf or car dealer lot. Now there's a critical moment before consumers get to your business. Quite possibly the first impression consumers have of your brand or product. Google calls this the Zero Moment of Truth. And while most marketers and business owners devote tremendous energy, and money, to the original moments of truth (those at the "shelf" when a consumer decides on your brand and then when they use your brand are either delighted or aren't). But the real question, and most important in terms of gaining new business, is - are you winning the Zero Moment of Truth?


    Here's what the Zero Moment of Truth looks like:

    • A couple sitting in a coffee shop scanning reviews on their laptop for the best Latin restaurant in their city.
    • A student in the local bookstore checking reviews on his mobile phone for the books he is interested in possibly purchasing.
    • A busy mom looking and comparing information and pricing on cold medications on her iPad while waiting to pick up her kids after school.
    • A women researching information on her computer about the man she has a blind date with later that night.


    As Google defines it:The Zero Moment of Truth (ZMOT) is that moment when you grab your laptop, mobile phone or some other wired device and start learning about a product/service (or potential boyfriend) you're thinking about trying or buying.


    Consumers no longer want to just hear what you have to say about your brand, they want to know that your brand is as good as you say it is. With the amazing ease of access we have to information via smart phones, tablets, laptops, and PCs, we can find incredible details online about all possible brands in a matter of minutes. And when we're ready to buy, we now buy with confidence.


    It is these Zero Moments of Truth that determine whether we (the consumers) do business with you, or don't. 


    As Jim Lecinski says about ZMOT in the Google ZMOT e-book, "It's a new decision-making moment that takes place a hundred million times a day on mobile phones, laptops and wired devices of all kinds. It's a moment where marketing happens, where information happens and where consumers make choices that affect the success and failure of nearly every brand in the world."


    Your consumers are now learning from search results, user reviews, ratings, text ads, image ads, news headlines, friends social media posts and good old-fashioned brand websites. And they are learning before they reach your brand and even as they are deciding. The buying decision journey has changed.

    Has your marketing strategy adapted to fit how your consumers are making their buying decisions?

    If you'd like more information on how you can win the Zero Moment of Truth with your business, contact TeamBishop today. We are experts on developing Internet marketing strategies for local business owners that establish them as a dominate brand in their marketplace.

    Author: Leslie Whittaker

    Parts of article from Google e-book: ZMOT: Winning the Zero Moment of Truth

    Photo courtesy of ReachLocal blog.

     

    Twitter 101: How to Get Retweets

    in Social Media & Web Presence Basics

    Last updated 3 years ago

    Retweets. You've heard of them but are you getting them?

    Using Twitter to boost awareness about your business and have conversations about your brand is only one of the ways that you can harness the immense power of Twitter. One of the other ways - retweets.

    Retweets are when someone else "tweets" your message or, in other words, reposts your message to all of their followers. Why do you want retweets?

    A few benefits of retweets include:

    Regardless of which benefit of retweets you'd like to get, here are some tips that can help you get more retweet love.

    1. Add a bio and photo to your Twitter.
    2. Know your audience.
    3. Use short links (create retweet friendly URLs with tinyurl.com)
    4. Leave room for a retweet - room for your twitter handle plus a few extra characters.
    5. Know your audience.
    6. Determine the times of day when you get the most retweets and post more during those times.
    7. Make your tweets valuable.
    8. Tweet interesting content.
    9. Give it emotion - show me that you're human.
    10. Be relevant. 
    11. Retweet others - people will reciprocate.
    12. Ask a question.
    13. Be positive.
    14. Ask your friends on Twitter to retweet your content.
    15. Install a Twitter button on your blog.
    16. Repeat your best tweets but re-word it. 
    17. Thank someone when they re-tweet your tweets.
    18. Tweet quotes - great quotes tend to get retweeted a lot.
    19. Tweet about trending topics.
    20. Add pictures using Twitpic.
       

    These are just a few ways that you can boost the amounts of retweets you get for your Twitter account. For more information on retweets check out Dan Zarrella's e-book "Science of Retweets." This e-book does an excellent job of discussing the importance of retweets as well as providing graphical data to back up Zarrella's retweet advice.

    _________________________________________

    Author: Leslie Whittaker

    If you're ready to really grow your web presence and be a dominant business in your market, contact TeamBishop. Dawn Bishop and Leslie Whittaker have helped hundreds of local Orlando businesses establish a dominate web presence and generate high quality leads for their business.

    Read TeamBishop's testimonials to see how we've helped some local Orlando businesses grow their business.

     

    ReachLocal: Proud to be a Google AdWords™ Premier SMB Partner!

    Last updated 4 years ago

    We are incredibly thrilled to announce that ReachLocal has been named as one of Google's Premier SMB Partners! As the official ReachLocal blog says, "We were proud to be a Certified AdWords Reseller in the past, but now we're one of the chosen few worldwide who have what it takes to earn this new prestigious title.

    As a Google AdWords Premier SMB Partner, ReachLocal is in an elite class that gives us an added endorsement of quality, reliability, and high-level expertise in the small- and medium-sized business market.

    So why is Google providing this new title for their premier partners?
    The Certified AdWords Reseller designation didn't really offer an in-depth explanation of the high level of quality service and expertise that have set ReachLocal apart since we were founded in 2004.

    “We are excited to launch the Google AdWords Premier SMB Partner program with hand-picked, highly qualified companies like ReachLocal,” said Ben Wood, head of Google’s Americas channel sales partnerships. “Small- and medium-sized businesses will not only benefit from ReachLocal’s in-depth training, but from its seven years of experience in the local market.” (ReachLocal blog)

    The Google AdWords Premier SMB Partner program is reserved for companies that meet Google’s highest standards of excellence, which is why we’re especially honored to have been hand-picked by Google. After all, since we began, and to this very day, we’ve had one (and only one) focus: to help local business owners like you reach local customers online. (ReachLocal blog)

    To learn more about ReachLocal becoming a Google AdWords Premier SMB Partner, visit Google’s blog and view our press release here.

    Hear what our CEO and co-Founder Zorik Gordon has to say about ReachLocal’s strategic relationship with Google and what being a Google AdWords Premier SMB Partner means for the company.

    Photo, videos and some content from ReachLocal Blog post: ReachLocal is Now a Google AdWords Premier SMB Partner!

    ReachLocal Reviews: Hear What Real Customers Have to Say About ReachLocal

    Last updated 4 years ago

    At ReachLocal, we love to hear what our customers have to say about our online marketing services. But more importantly, we want you to hear all the great ways that we have helped their business so you know you're in good hands when you choose ReachLocal for your Internet Marketing.

     

    Construction and Remodeling Company Gets a Full-Time Marketing Service

    Memorable Review Quote: “The main benefit to us working with ReachLocal is that when you’re running a business, you like to spend your time running the business and not checking to see which search terms are doing better and which aren’t, and managing all that. That can be a full-time job.” -Jim Rafferty, Vice President of Sales and Marketing

     

    Gold & Silver Merchant Increases Total Revenues with Web Presence Optimization

    Memorable Review Quote: "ReachLocal stepped in, picked new keywords for me, made sure my script was all correct, linked me with other things, integrated my Web Presence as far as social media, and just really took me to the next level." -Sean Miles, Owner

     

    Home and Commercial Services Company Receives More Phone Calls

    Memorable Review Quote: "I've seen the reports where I can see the numbers of calls that we're getting, and I've heard the phone calls. I get so many phone calls as a result of the traffic ReachLocal drives in all of my campaigns." –Les Stobart, Marketing Director

     

    Dentistry Practice Gets Found in More Places Online

    Memorable Review Quote: “ReachLocal has provided us a service of expanding the number of people who come to our website, expanding the exposure, and putting us in places that my website hasn’t been able to get to.” –Dr. Stanley L. Wendt, Jr., Owner

    To hear what other customers are saying about ReachLocal, subscribe to our YouTube channel which features testimonials, educational videos about online advertising and social media, as well as spotlights on some of our most popular online marketing services.

    _________________________________

    Content from ReachLocal Reviews: Hear What Our Customers Have to Say [Videos]

    Written by: Tamara Weintraub who helps equip small business owners with information about local online advertising, social media marketing, and more as a blogger for ReachCast and ReachLocal.

    ____________________________________

    For more information on how you can start your internet advertising, contact TeamBishop today. Dawn Bishop and Leslie Whittaker have helped hundreds of local Orlando businesses establish a dominate web presence and generate high quality leads for their business.

    Read TeamBishop's testimonials to see how we've helped some local Orlando businesses grow their business.

    How to Make Your Revenue Grow: Spend More to Acquire More

    Last updated 4 years ago

    According to Jeff Haden, BNET Contributor, thinking like this is a mistake. Jeff says, “you should almost always spend more to acquire new customers than you think, especially if you can land the right customers.”

    Like any other business investment, you should think of customer acquisition costs as a true investment in your business, not just a cost that drains your bank account. Customer acquisition costs are an investment intended to “generate a reasonable shot-term return and a significant long-term return” states Haden. This is not something that you tweak every month just to make your overall expense budget “work.”

    Haden uses himself and his photography business as an example on a new approach to looking at your marketing budget and why you need to spend more to acquire new customers than you actually think.

    “We’ll use me as an example. I’m a ghostwriter and I also photograph weddings. (If you’re curious why I do both, this is why.) To keep things simple, assume we spend $5,000 a year on sales, we book 20 weddings a year, and the average price of a wedding package is $4,000. Quick math:

    Sales: $80,000

    Sales cost per transaction: $250

    Sales cost as a % of sales: 6.25%

    Are we happy with those results? Let’s start by calculating whether we generate a reasonable short-term return on our sales investment; the definition of “reasonable” is the minimum we’re willing to make. We add all our fixed and variable costs (including cost of sales) and spread them across the 20 weddings. Say we want, at minimum, to net 20% on each wedding; if we do, we’re content — and shouldn’t spend more on sales, right?”

    Wrong, states Haden. Don’t limit your thinking to only the first sale amount that you make from a customer. Instead, think of the big picture. In Haden’s case, in addition to the typical wedding package, they often get far more sales from that one customer than the initial transaction. For example, Haden states the following as additional revenue they most likely make from each wedding package they sell.

    • On average, couples spend an extra $500 per wedding (more albums, extra photographer time, additional photos, etc…).
    • Family and friends typically order photos and albums generating an additional $600 per wedding on average.
    • Couples often contact them years later for family portraits, sessions with children, etc…
    • About 70% of their bookings come from referrals from past clients.

    And how much does Haden spend on those additional sales – zero. He’s already spent the money to acquire the customer so those additional sales and referrals are, in effect, free. And if you add in just the post-wedding sales ($500 from couples and $600 from families) bumping the average wedding package sale price to $5,100 their cost of sale reduces to 4.9% from 6.25% and increases their overall profit margin.

    Continuing to look at the big picture, “each booking is the gift that keeps on giving, since over half the [they] get new bookings through referrals, which further reduces [their] selling costs.”

    After all these factors are taken into account, particular the additional revenue that comes in after the initial sale, what does Haden spend to acquire new customers?

    Almost nothing. A bit of website expense and some labor when potential client call to inquire. Why? Because he spent a lot in the early years to land clients and because he spent more and targeted a reasonable profit level per wedding because of the following factors:

    • He knew upon doing a great job, clients would purchase additional photos and albums.
    • That after doing a great job clients would contact him in the future for more jobs.
    • And if he continued to provide great service, his clients would refer him to others.

    Haden’s logic applies to your business. “Very few customer relationships, regardless of the industry, are one-off, unrepeatable events.”  Let’s say you own a restaurant: if a new customer returns at least two times, shouldn’t you be willing to spend more to acquire th

    at customer since you’ll spread their acquisition cost over three or more visits?

    So, how do you determine what you should spend?

    First, determine the reasonable short-term return you are willing to accept. Depending upon your preferences, reasonable can be as low as your break-even point – that is as long as the likelihood for future business is high so your high initial costs are offset by future revenues.

    Once you have established the reasonable short-term investment, focus on ways you can expand your products and services. And, most importantly, consistently deliver great service. Combining both of these allows you to further leverage the value of an acquired customer.

    Haden sums up his article with this very compelling and incredibly important thought, “above all, don’t see customer acquisition costs as simply a cost or line item. Analyze the big picture and view the cost of sales as an investment.”

    Basically, “if spending more returns more…what are you waiting for?”

    What are your thoughts and policies when it comes to determining your budget for customer acquisition?

    ________________________________________

    To learn more, read Jeff Haden's post "How Much Should You Spend to Acquire a New Customer."

    Image from: alliandesign

    ________________________________________

    To learn more about how you can effectively and efficiently acquire new customers for your business, contact TeamBishop today! We can show you some amazing strategies to get you acquiring more customers in no time.




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