![]() A customer might search for “home security systems” and click through to a security camera landing page, then navigate around the site and end up buying a smart lock after an unanticipated and extended period of research. Identifying the key moments of truthĪs you’ll see in our upcoming How To Guide on conversational AI on June 9th, sponsored by IBM:Ĭonsider the example of a smart home device company that sells a number of different products online. What's more, with the right strategic approach to analytics tools, you can even extrapolate from this data to generate maps of buyer journeys and ideal customer profiles for more effective targeting. While sourcing all relevant data into one place can present brands with real challenges (or somewhat educated, general presumptions), in principle, every company has enough data at their disposal to create fairly detailed customer profiles. The same concept applies to any abundance of content that’s difficult to sort through variables and generate predictions whether it be the web, a search engine, or a robust knowledge base: sports statistics, patient history, financial statements, legal documents, customer data in a contact center, and so much more.Ĭompanies today are swimming in customer data - data on their preferences, buying patterns, and much more. Read More: Special Report Series: State of the Voice Channel With new devices, sensors, and technologies emerging, the data growth rate will continue to exponentially increase, creating an even bigger problem for a technical task that’s already difficult enough.Įver google a question, only to stumble upon a self-proclaimed expert or “guru’s” advice that was of little value to you? With content and data being churned out at a rapidly exponential rate, it is becoming increasingly difficult to find accurate or actionable information used to help both businesses and customers make informed decisions. Is there such thing as too much data?Īccording to an IBM study from roughly 3 years ago, 90% of all the data in the world at the time had been created in the previous two years. According to the Harvard Business Review, nearly a third ( 31% ) of marketers say they face the challenge of “too much data to analyze” when optimizing ad performance, for one example. That leads to mental fatigue and a tendency to revert to assumption-based decision-making. Too often, customer success strategists, marketers, contact center leaders, and CX designers invest countless hours collecting a sea of data without a clear strategy for harnessing it to drive decisions. Today, there are countless micro-moments involved in the digital path to purchasing behavior, and the most significant moments of truth may not be what many business leaders might think. I-want-to-buy: Looking up product information in-store comparing features and prices.In 2011, Google coined the term Zero Moment of Truth, a customer’s first step in researching a product or service to purchase.I-want-to-do: Searching for product help or looking for ‘how to’ ideas.I-want-to-go: Searching for a local business or nearby events.I-want-to-know: Looking up a product that was advertised/recommended.Businesses that can respond with the information their consumers want, at the place and time they want it, are realizing significant competitive gains.Īnswer these four micro-moment categories that Google mapped out, and you’re ahead of the competition: These brand “moments of truth”, or micro-moments, are jam-packed with consumer intent - prime opportunities to shape consumer perception and drive sales. ![]() Actually, 82% of smartphone rely on their phones to influence a purchase decision while in-store. We increasingly turn to our devices when we need information - whether we’re standing in the shopping aisle, hearing about a new product for the first time or trying to find the nearest coffee shop. Mobile devices have created a seismic shift in how consumers interact with brands - the need for instant gratification. In fact, there’s a 60% chance you’re reading this article on your phone right now! According to industry analysts, the majority of online behavior now takes place on mobile devices. Let’s face it - we’re living in a mobile-first world.
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