In this article, we discuss the Zero Moment of Truth (ZMOT) and the notion that significant changes have swept over the sales landscape these past 20 years.
From the influx of the internet to the intricacies of the buyer's journey, selling has changed but many salespeople haven't. Is it time they do?
For now, that famous line from Colonel Jessup has me thinking about how selling has changed so dramatically even within the last few years.
So, if you can handle the truth, here it is:
Selling has changed…but many salespeople have not.
Specifically, there are two significant changes that have swept over the sales landscape:
- The buyer is initiating the sales process…what HubSpot refers to as the buyer’s journey.
- The buyer is further along in their thinking than ever before.
The first change brings to mind the Google eBook titled “ZMOT”. ZMOT is an acronym standing for the Zero Moment of Truth, and is defined as the exact moment in the sales cycle that is between the stimulus (how the prospect became aware of a product) and the first moment of truth (a P&G term referring to the decision to make a purchase).
In short, ZMOT refers to the point in time where the buyer is researching a product or service offering and the seller is completely unaware of the buyer’s actions.
Here is a quote from the book:
“If you’re available at the Zero Moment of Truth, your customers will find you at the very moment they’re thinking about buying, and also when they’re thinking about thinking about buying.” (ZMOT, 2011)
So, it all comes down to three simple questions:
- Is your company winning or losing at the Zero Moment of Truth?
- How do you know that?
- What are you going to do about it?
It is inarguable that more and more buyers are finding and researching options online before they ever talk to a salesperson.
As Colonel Jessup would ask, “We live in a world full of prospects…who’s going to call them? You? They may have already passed their Zero Moment of Truth."