Perhaps you have heard our team talk about ZMOT, but if you haven’t, it is probably the most important concept to explain the titanic shifts in commerce that illustrate the rise of digital transactions in today’s economy. ZMOT stands for Zero Moment of Truth; a term coined by Google in 2012 to describe why companies like Amazon have been taking over the retail space along with many other digital titians we all recognize today (Uber, Apple, Zappos, just to name a few). ZMOT essentially explains the critical elements that make a digital transaction so appealing to consumers. Google proclaims that in order to win the Zero Moment of Truth when buyers are researching your products, even when you are unaware of it, you must have three critical functions on your website:
- Your product pictures online
- Your product options that go with that product online and/or product details
- Customer Reviews about your product
If you provide consumers with these three things in an easy to access (single destination, not multiple sites) format, then you fulfill ZMOT and will gain more customers because customers can engage with your product independently before they come to you for information.
Zillow reports that now 50% of home buyers are “millennials” and that 40% of those millennials are willing to build a new home. It has become crucial for builders to embrace ZMOT or else be left behind.
Contact your Avid Success Manager to learn more about our Digital CX tools that make it easy for you to have ZMOT when selling your homes.