Winning the zero moment of truth with word of mouth
3 likes1,261 views
The document discusses modern marketing strategies emphasizing the importance of consumer referrals in influencing purchasing decisions, highlighting the 'zero moment of truth' where potential buyers research online before buying. It presents statistics showing that referrals can significantly boost sales, with consumers being four times more likely to purchase based on a friend's recommendation. Successful referral campaigns utilize targeted messaging and customer engagement at key points in their buying journey.
Winning the zero moment of truth with word of mouth
- 1. WIN THE BATTLE FOR CONSUMER ATTENTION WITH REFERRALS
- 2. WHO IS THIS GUY? forewardsapp.com 2 • Jason Dea -‐ COO Forewards • 10+ years in Marke=ng and Adver=sing • Worked with 100s of retailers
- 3. A FANCY TERM WE’LL BE DISCUSSING The Zero Moment of Truth A term coined by Google referring to all the research consumers to online BEFORE making a purchase forewardsapp.com 3
- 4. THE OLD MODEL OF MARKETING forewardsapp.com 4 S=mulus 1st Moment of Truth 2nd Moment of Truth In-‐Store At the Shelf Experience
- 5. WE FOUND THE INTERNET forewardsapp.com 5
- 6. THE NEW (ONLINE) MODEL OF MARKETING forewardsapp.com 6 S=mulus 1st Moment of Truth 2nd Moment of Truth In-‐Store At the Shelf Experience Zero Moment of Truth Internet Research
- 7. THE BUYER JOURNEY IS FOREVER CHANGED forewardsapp.com 7 S=mulus In-‐Store At the Shelf Search Referrals Videos Recommenda=ons
- 8. WHERE PURCHASE DECISIONS ARE MADE forewardsapp.com 8
- 9. THE MOST INFLUENTIAL ADVERTISING forewardsapp.com 9 This! Not These Neilsen
- 10. WORD OF MOUTH HAS CHANGED forewardsapp.com 10 Refer a few friends over days Broadcast to the WORLD in seconds! go here…
- 11. CONSUMERS ARE INFLUENTIAL 57% of US adults are on Facebook 338 - Average number of friends Pew research 73% of consumers say Social Media influenced a store visit decision Empathica forewardsapp.com 11 I’m a big deal
- 12. CUSTOMERS HAVE A LOT TO SAY 83% of consumers are willing to refer Texas Tech forewardsapp.com 12
- 13. IT’S WORTH ASKING 65% of new business comes from referrals New York Times People are 4X more likely to buy when referred by a friend Nielsen forewardsapp.com 13
- 14. SIMPLE CUSTOMER REFERRALS AND WORD OF MOUTH
- 15. TURN TRANSACTIONS INTO REFERRALS forewardsapp.com 15 A customer buys something from your store We trigger a marke=ng campaign asking them to share They share an incen=ve with friends and also receive a reward themselves
- 16. How you ask: • Targeted template campaigns and messages THE SECRET TO MORE REFERRALS (1) forewardsapp.com 16
- 17. THE SECRET TO MORE REFERRALS (2) When you ask • Triggered emails at key moments of the customer journey forewardsapp.com 17
- 18. THE SECRET TO MORE REFERRALS (3) Test, test, test • Quickly test and compare hypotheses forewardsapp.com 18
- 19. REAL WORLD RESULTS “Global beauty brand” – $10,000+ referral sales in first 2 months – 30%+ of customers will refer “Boutique women’s retailer” – $3000+ referral sales in first 2 weeks – 35%+ of customers will refer “Custom art prints” – $2500+ referral sales in first 3 weeks – 8% lift in sales forewardsapp.com 19
- 20. BUILD A PROFILE OF YOUR BEST ADVOCATES A recipe to find more advocates • Gender • Location • # of Friends • Purchase behavior • Purchase influence forewardsapp.com 20 Find more of me!