Verbatim—as told to John Jonelis
Last time I saw Loop Lonagan, he stuck me with a big breakfast check. Then he invited me to lunch, promising the low-down on the Zero Moment of Truth. Now, instead of lunch, he emails me an MP3 file he dictated during an event held at the Chicago Booth Alumni Roundtable. I’ve transcribed it word-for-word, exactly as I heard it spoken:
Loop Lonagan here. I’m at this event at the Gleacher Center and I’m confused. There’s only two grey hairs in the room and we’re both lookin’ like deer in the headlights but for some reason we showed up. Looks like about 200 people. Most of ‘em I never met. All these brown hairs are usin’ a new vocabulary. SEO. What’s that—a new union out there someplace? Something about sex offenders? I don’t know.
The speaker is very bright. Jennifer Howard. Regional director of sales or somethin’ for this company called Google. This is a talk on the effects on advertising and how it really, really changes. I’m in trouble. Don’t know nothin’ about Google even though I use it every day and even own the stock. Don’t know if I’ll learn somethin’ tonight or not, but we’re gonna give it a try. I figure we all shoulda gone to school to learn how to learn insteada learnin’ facts then doin’ a file dump.
Okay, Jennifer’s givin’ some background now. Turns out this stuff got defined by P&G years ago and I remember it. She draws a line with three points: STIMULUS, FIRST MOMENT OF TRUTH, and SECOND MOMENT OF TRUTH. Classic advertising looks at everything as a response to The Stimulus. The First Moment of Truth is when the actual purchase gets made—the buy point. The Second Moment is when the consumer uses it. Now she’s inserting what she calls the ZERO MOMENT OF TRUTH between the Stimulus and the Purchase.
Talk about inserting somethin’ between stimulus and purchase, this Chicago Booth is so cheap, they only charge you ten bucks to get in the room but they make you pay for your beer. Most o’ the time they charge me 35 bucks and only give me one or two beers. I guess this is cheaper. Maybe I shouldn’t complain,
Jennifer’s putting numbers on it. You know I like numbers. She says, on average, people search the Internet for 10+ sources BEFORE they make the buy. Consumers are a lot more proactive about gettin’ input FROM OTHER PEOPLE to make a decision. That’s a big switch. With that goin’ on, advertising as we know it might be a dinosaur. Can she prove it?
She asks the audience, “How many of you read reviews online?” Answer—damn near a hundred percent.
She asks, “How many have written a review?” Answer—a lot.
Now she’s talkin’ about video. She says 84% of people are looking at YouTube video before the buy. That’s huge.
Nowadays, 15% of all advertising gets spent online. That’s stuff that used to go to magazines and TV and direct mail. I can believe it. I’m surprised it’s that low, considering the way everybody talks about the Internet as if it’s the next perfect world for everything. It doesn’t amaze me. And it doesn’t matter how I feel about it because it’s happening. I can’t control it. I guess I better join it rather than fight it. But that doesn’t mean it’s not a struggle.
Okay, online advertising and social media keep getting more of the bucket. Are we past the early adopters and now in the mainstream? Didn’t Geoff Moore write “Crossing the Chasm?” Well, looks like we’re crossing it now. Anyhow, if his paradigm plays out then 50% of the spend is goin’ to the Internet in 2-3 years. But advertising only makes people aware. It’s word of mouth that moves people to buy.
So she asks, “When in the buying cycle are people asking each other questions?” And that’s the whole point. This Zero Moment is a resource to tell you what’s good and what’s not. And the reason it didn’t exist before is we didn’t have access to it except for a very small circle of friends that we had contact with. So word-of-mouth marketing is now digital. You open one door to four or five people and all of a sudden, you open another door and find a crowd of millions of people out there. It’s hard for a lotta baby boomers to grab onto that. The Internet makes the world flat, to use Tom Friedman’s analogy. Bottom line, you gotta look at the Zero Moment to know how to influence buyers.
What she’s sayin’ makes a lotta sense. Maybe I was a too incredulous and didn’t wanna hear the truth before. Did I say incredulous? That reminds me of the old joke of why the South Dakota farmer sent his kid to Harvard. You ask me, “Whaddaya mean, why?” Answer: So he could learn to say “incredulous” instead of “no shit.”
Anyway, back to the presentation. She says you gotta look at the Zero Moment to influence the buyer. She’s tellin’ a story about Mayonnaise vs. Miracle Whip. Mayonnaise says somethin’ about Miracle Whip and right away, Miracle Whip has a counter on Facebook. That’s agility.
Do people really follow Mayonase on Facebook? I have a hard time getting it onto a sandwich. Hey, talkin’ about food makes me hungry. They got these microscopic hamburgers here. Microsliders or somethin’. No bigger’n a thumbnail. Hafta eat a whole plate of ‘em just to get a bite. Guess they must be those fancy hors d’oeuvres or whatever you call ‘em. Gonna stop somewhere on the way home for a real hamburger when this is over.
Okay, she’s done now and people are clogging the aisle. So what else did I learn? Anything practical? Yeah. Five keys:
1.) You can’t win without showin’ up. People gotta be able to evaluate your product. Start a conversation with the millions out there.
2.) You gotta answer the questions that people are asking. If you don’t, they’re gonna move on and leave you in the dust.
3.) Only 20% of sites are optimized for mobile phones. You gotta do this. If you don’t, you won’t even get one or two seconds of their time. And don’t forget video—it’s bigger every day.
4.) You gotta be fast. It’s like an earthquake. The earth moves too fast under your feet for you to just stand there. Jump in and fail fast. If you try to make it perfect, you’ll never make it. Be biased for action.
5.) For any group o’ people, you gotta put a CMFIC in place. If you think that stands for Chief Master Fascist In Charge, you’re crazy. It’s an old army term. The troops understand it. You gotta have somebody accountable who leads the strategy for you. Be intentional.
Anybody can download a 60 page writeup in PDF or e-book format and see video about this stuff, FREE from Google at http://www.zeromomentoftruth.com
That’s the crop, John. Hope it opens your eyes. Everybody can tell you need to do that.
Find Chicago Venture Magazine at
www.ChicagoVentureMagazine.com Comments and re-posts are welcomed and encouraged. This is not investment advice – do your own due diligence. I cannot guarantee accuracy but I give you my best.
© 2012 John Jonelis – All Rights Reserved.
34 responses to “5 KEYS TO THE ZERO MOMENT OF TRUTH”
Pingback: THE AMAZING MobiU | Chicago Venture Magazine
I was recommended this web site by my cousin. I am not sure whether
this post is written by him as no one else know such detailed
about my problem. You are wonderful! Thanks!
Thanks a lot for sharing this with all folks you actually
understand what you’re talking about! Bookmarked.
Kindly also visit my web site =). We may have a link alternate agreement between usLearn
How To Produce Music At Home
Hi there, after reading this amazing paragraph i am as well cheerful to share my experience here with colleagues.
Although adults may develop tinnitus symptoms, the
elderly are much more prone to it. Apart from their age, the body systems of elderly people
(mainly their senses) are already vulnerable to degenerating.
They might already have issues hearing, may
have lousy eyesight, or could have altered sense of smell and sense of
What’s up to every one, it’s actually a
pleasant for me to pay a quick visit this site,
it consists of useful Information.
Hi there, after reading this amazing article i am also delighted to share my experience
here with colleagues.
Every weekend i used to pay a quick visit this web page, for the reason that i want enjoyment, for the reason that this this site conations in fact pleasant funny material too.
This is my first time pay a visit at here and i
am actually pleassant to read all at alone place.
I’ve been browsing on-line greater than three hours as of late, yet I never found any fascinating article like yours.
It’s lovely price enough for me. Personally, if all web owners and bloggers made excellent content material as you did, the web might be much more useful than ever
Hello everyone, it’s my first go to see at this site,
and article is genuinely fruitful in support of me,
keep up posting such articles.
I really like it when people come together and share thoughts.
Great blog, keep it up!
I have been exploring for a little for any high quality articles or blog posts on this kind of area .
Exploring in Yahoo I at last stumbled upon this website.
Studying this info So i’m satisfied to convey that I have
an incredibly good uncanny feeling I came upon exactly what I needed.
I so much certainly will make certain to do not disregard this website and provides
it a glance on a continuing basis.
Aw, this was an exceptionally good post. Taking a few minutes and
actual effort to make a superb article… but what can I say… I
put things off a lot and don’t manage to get nearly
Hey superb website! Does running a blog like this take a large amount of work?
I’ve no knowledge of coding however I was hoping to start
my own blog in the near future. Anyways, if you have any recommendations or tips for new blog owners please
share. I know this is off subject but I simply needed to ask.
I couldn’t resist commenting. Perfectly written!
Thank you very much.
Good day I am so happy I found your blog, I really found
you by accident, while I was searching on Bing
for something else, Nonetheless I am here now and would just like to say many thanks for a remarkable post and
a all round thrilling blog (I also love the theme/design), I don’t
have time to read it all at the minute but I have book-marked
it and also added your RSS feeds, so when I have
time I will be back to read a great deal more, Please do
keep up the superb job.
I have read so many articles regarding the blogger lovers however this
paragraph is truly a pleasant piece of writing, keep it up.
Pretty! This was an incredibly wonderful post. Many thanks for providing
I am really enjoying the theme/design of your site. Do you ever run into any web browser compatibility problems?
A few of my blog audience have complained about my website not operating correctly in Explorer
but looks great in Safari. Do you have any recommendations
to help fix this problem?
All of which have their own “inconvenience” built-in peer se.
On June 4, following a death of her son, Anderson posted to her Facebook page ‘My baby was
my world my angel my everything i really like
you baby boy mommy will find out just what happened to you.
He may also ask an indicted person to get factual because every single detail counts and may also be the
path to you being acquitted.
Hey there, I think your website might be having browser compatibility issues.
When I look at your blog in Chrome, it looks fine but when opening in Internet Explorer, it
has some overlapping. I just wanted to give you a quick heads up!
Other then that, great blog!
I read a lot of interesting content here. Probably you spend a
lot of time writing, i know how to save you a lot of work, there
is an online tool that creates high quality, google friendly posts in seconds, just type in google – laranitas
free content source
Where: Jesse James Rock House (formally Dylan’s Roadhouse).
The Immigration andd Naturalization Service (INS) could be the body that’s responsible for the arret of your immigrant.
( Although this certificate will probably be accepted inn many states, in some states arrest bond certificates
usually are nnot acceptable.
Hello there I am so thrilled I found your website,
I really found you by mistake, while I was researching on Askjeeve for something else, Nonetheless I am here now and would just
like to say kudos for a marvelous post and a all round thrilling blog
(I also love the theme/design), I don’t have time to
look over it all at the moment but I have saved
it and also added in your RSS feeds, so when I have time
I will be back to read a lot more, Please do keep up the awesome work.
Excellent post. I was checking constantly this blog and I’m impressed!
Very useful information specifically the last part 🙂 I care
for such information a lot. I was looking for this certain info for a
long time. Thank you and good luck.
Hi there! I could have sworn I’ve been to this blog before but after checking through
some of the post I realized it’s new to me. Anyways, I’m
definitely delighted I found it and I’ll be book-marking and checking back often!
The initial problem which many companies face when they are using both WordPress as well as Code – Igniter is when they want to incorporate Code
– Igniter functionality into their WordPress theme
files. Sometimes when you reduce the risk of your
portfolio, your return can actually go up. *A Quick Tip: If you are waiting for something really important cross reference this with
your electronic calendar.
3 Strange Noises and Vibrations. Get maximum from your car, truck or Sports criminal defense lawyers Utility Vehicle.
Initially you may try to fight criminal defense lawyers it, but in the end.
It has also been seen that most transmission repair shops
regularly for regular maintenance. A big question is how you plan to really get the most out of your way to
get the leak fixed ASAP. Our Tech-Net professional auto mechanic Billings,
MTAre you needing a transmission fluid change as part of normal transmission repair?
This post will help the internet users for creating new blog or even a weblog from start to end.
Good day I am so happy I found your webpage, I really found you
by mistake, while I was searching on Aol
for something else, Regardless I am here now and would just like to say thanks a lot
for a fantastic post and a all round entertaining blog (I also love the theme/design),
I don’t have time to browse it all at the minute but I have book-marked it and also added in your RSS feeds, so when I have time I will be back to read a lot more, Please do
keep up the fantastic work.
There is sure to be regularly safer possible choices shall cheaper danger of daamage for anybody while.
The very common may be the DWI cases as numerous people are
caught driving while intoxicated. Drivers caught with
alcohol levels inside their blood or breath that exceed lwgal levels, or people that refuse to
take (and finish) a chemical test, are managed in two ways:.
Did you are aware that about 30% of women actually have a climax during sex.
That is the reason you should alwayus make an effort to pattronize wholesale adult novelties
sold over the market. You dwcide together; you end up
picking the toy together.