![]() People often make a list or compare their options. These aren’t purchases you make on a whim. And you have high-involvement products like holidays, cars, washing machines, and insurance. Think of chocolate, chewing gum, and anything you buy regularly for little money. You have low-involvement products where consumers are little involved in the choice process. In many categories, the moment of truth is a matter of seconds, but this is certainly not the case for all products. What I miss in many of these theories is the category-specific lens. Years ago, Procter & Gamble introduced the ‘First and Second Moment of Truth’, where the consumer looks up the product, and the moment of purchase and use. ![]() Google talks about the ‘Zero Moment of Truth’ in which the consumer looks up a product online before making a purchase. The Ehrenberg-Bass Institute of Byron Sharp is convinced that consumers make decisions based on mental and physical availability. McKinsey describes the consumer decision journey where the conscious orientation phase is the first step. Much is written in the literature about the purchasing process. Olympians ask themselves with every meal, every training session, every choice they make whether it contributes to the goal, that 10-second moment of truth. But there are many hours of marketing and campaigns preceding that moment. In marketing, you only have a few seconds to win from your competitors. To win, thousands of hours of training precede. ![]() That’s when they need to perform, but he doesn’t just do it in those 10 seconds. You can compare it to a sprinter who has less than 10 seconds to prove themselves during an Olympic final. To win in the Moment of Truth, brands need to focus on that moment and use all marketing initiatives to differentiate themselves at that moment. But there are many hours of marketing and campaigns preceding that moment.” “In marketing, you only have a few seconds to win from your competitors. It turned out that successful companies embrace data-driven decision-making much more often (72%) than unsuccessful companies (39%). Last year, in our research into the role of data in brand growth, we saw how important it is for brands to have continuous insight into the developments in the market, how the consumer’s world changes, and how you adapt to this as a brand. The pandemic also raised enormous questions. a few secondsīecause of these developments, I also notice a growing need among our clients to better understand the consumer and this interaction. And therefore, an interesting theme for Brand Growth. This makes the moment of truth increasingly complex, competitive, and important. As a consumer, you have access to an endless supply with just one click. Spotify gives you access to all the songs 24/7. ![]() Netflix offers countless series and films at any time of the day. The way we watch TV and listen to music is unrecognisable for the last decade. But the speed and choice go beyond our food. The explosive growth has even led to a halt on new ‘dark stores’ for fast grocery delivery in several Dutch cities. Fast grocery deliveries are skyrocketing you can no longer go outside without seeing the brightly coloured couriers of Domino’s, Just Eat, Deliveroo, Uber Eats, Getir. The convenience of home delivery brought many new players to the market. ![]() Digitalisation has accelerated e-commerce, and the pandemic has also proved to be an accelerator of our changing purchasing behaviour. The needs of consumers have changed enormously in recent decades. Especially in these times, where consumers are overwhelmed by supply, the moment of truth is increasingly important and difficult for brands to influence. When you use a product, you form your opinion in a few seconds. In a split second in the shop, you decide what to buy. As a marketer you are so busy with your brand and your marketing – you want to tell this, consumers have to think that – but perception is often determined in one moment. In practice, this means that, as a brand, you only have one moment. And in an increasingly fast-paced world, this is increasingly determined by the ‘Moment of Truth’. It’s all about the interaction between the brand and the customer. All these themes have one common denominator: the consumer. We have talked about the impact of media, innovation, creative development, and data on brand growth. Over the past five years, we have covered various themes with Brand Growth. < Back to news items Blog The Moment of Truth: A moment surrounded by an infinite supply Published on 22 02 2022 ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |