Executive Summary
In today's digital age, businesses must adapt to new strategies to reach their target audience. Traditional methods such as telesales and cold calling are no longer as effective as they once were. In this article, we will explore how businesses can use digital selling to create a more effective and profitable way of reaching their total addressable market.
The marketing moments of truth are crucial points in a customer's journey where they form initial and lasting impressions about a business. In this article, we will explore how businesses can use digital selling to create a more effective and profitable way of reaching their total addressable market.
We’ve covered the person-to-person ethos about digital transformation, but what are companies supposed to do when it comes to the digital marketing element of transformation and in particular, the B2B buying psychology relating to the marketing moments of truth?
As the overall process is not linear, the simplest way to grasp what is required and how everything fits together is to view how each sector is ‘stacked’. It’s a variety of things that happen at the same time and the best way to illustrate this is through a series of infographics.
We have also recorded a podcast about the same subject, to listen, click here - The Marketing Moment of Truth
Table of Contents
- The Marketing Moments of Truth
- Digital Moments of Truth
- Marketing Funnel
- Marketing Operations
- Customer Experience Flow
- Technology Stack
- Technology Vendors
- Social Media
- Restructuring Content
- Live Streaming Show
- Digital Selling for New Business Development
- Key Takeaways
- FAQs
- Conclusion
The Marketing Moments of Truth
The ‘moments of truth marketing’ terms were first coined by A.G. Lafley in 2005. Lafley was the Chairman, President and CEO of Procter & Gamble – For more information and links visit Wikipedia https://en.wikipedia.org/wiki/Moment_of_truth_(marketing)
- ZMOT – Zero Moment of Truth – When they realise they need a product
- FMOT – First Moment of Truth - When they notice YOU
- SMOT – Second Moment of Truth – When they buy from you
- UMOT – (Third) Ultimate Moment of Truth – when they recommend you
Recognising these stages helps identify the ‘who, what, when, where, why and how’ of your marketing infrastructure. A word of caution; the marketing moments of truth were gleaned based upon consumer behaviour, so keep this in mind.
The images and descriptions below help identify the processes, experiences and the necessary technology that can blend seamlessly to help you exploit the overall strategy and become more profitable in the process.
The Digital Moments of Truth
A customer's journey consists of various touchpoints that form lasting impressions about a business. These touchpoints are known as the marketing moments of truth. It is essential for businesses to understand these moments and create a positive experience for the customer. Digital selling can help businesses achieve this by providing a more personalised and engaging experience. For more information regarding this subject, Revamping B2B Marketing with Digital Transformation Insights.
The Marketing Funnel
Most marketers are familiar with the Marketing Funnel, but as you’ll see from the Marketing Operations and Experience Flow graphics, there must be something to put in to the top of the funnel in the first place.
Whilst this is a typical B2B marketing ilustration, we have updated it with out own broader study and strategy that matches business buyer behaviour. Take a look at our page called The System.
Marketing Operations
Keeping the graphics aligned, one on top of the other, you can see what activities need to be actioned from the top working down. For ease of use, we have included a slide show at the bottom so you can scroll through each graphic in the right sequence.
Customer Experience Flow
Trigger to connect; the approaches to ‘trigger’ someone to engage with you are as endless and as varied as your imagination. The key must be to keep them engaged.
From the first ‘touch’, we know what we like to see, hear and feel. The same goes for prospective customers. For some it could be as simple as receiving a smart brochure printed with a bit of spot varnish and matt laminate. For others, it could be using your a smartphone app that keeps your suspects or prospects up-to-date with new developments in your company.
And it doesn’t stop at mobile apps. The Customer Experience is the overall journey that includes folders, presentations and packaging; but not just product packaging. It’s the way you deliver your business to your customer and how you take care of them in the long term. This leads to encouraging the Ultimate Moment of Truth (UMOT), i.e. the coveted referral.
The Technology Stack
When it comes to marketing technology there is so much to choose from. In 2011 there were 150 different marketing technology products; now there are over 11,000. So, trying to find someone who knows all the kit out there is virtually impossible.
In terms of a technology stack, you can see that all of it is Software as a Service (SaaS) and therefore it enables you to visualise and build your stack as you see fit. It’s rare these days that products will not integrate, especially with middleware SaaS like Zapier. So if there’s no connectivity currently available for your software, head over to www.zapier.com and find the necessary connectors.
Technology Vendors
The solutions offered by the technology vendors below only scratches the surface. The important point to keep in mind is that your long-term plan should be to emulate the technology stack, at the same time as developing your longer term marketing strategy. The tactics you employ will sync with the technology and ultimately enable you to automate as much as possible.
It’s worth bearing in mind that as your business gradually develops, that you think along the lines of employing a chief marketing technology officer or someone similar, simply because the technology integration required to keep all this tech moving and functioning properly is a full-time job. Think of it in the same way as you would a mechanic for your car.
Social Media
Social media activity does not need much of an introduction, however, considering how much ‘noise’ there is out there, it can be extremely difficult to get noticed. One of the key points about ‘social’ is that most people ‘zone-out’. Social media is also, for many people, a welcome distraction; a time to take a break from what’s going on around them. Therefore, whatever strategy you are going to adopt, you must make sure that it’s consistent, not repetitive and can be properly managed.
My suggestion is to complete a stack of posts/content up front, which means you will be able to consistently post your content AND get noticed because of the frequency, without trying to post content piecemeal and therefore not get noticed by anyone. Follow this link to review our fully comprehensive strategy called Social 444.
Restructuring Content
One of the first steps in adapting the marketing moments of truth is by implementing digital selling. the first step is to begin restructuring content to make it more appealing to the target audience and to convert the content into a variety of formets such as podcasts, video or live streams shows. This creates valuable and informative content that addresses the needs and pain points of the target audience. It is also important to ensure that the content is optimised for search engines to improve its visibility.
Live Streaming Shows
Live streaming shows are a powerful tool for engaging with customers and building brand awareness. By hosting a weekly live stream show, businesses can provide valuable information to their target audience and answer any questions they may have. This can help build trust and credibility with the target audience and ultimately lead to more conversions. Our recommendation is for salespeople to host the live shows as they have a greater connection with prospects.
Digital Selling for New Business Development
Overall, digital selling is a more effective strategy for generating new business because it places more emphasis on the technology to connect with prospects, rather than trying to cold-call potential prospects. By using a combination of the above methods, businesses can reach a wider audience and create a more personalised and engaging experience. This can help build trust and credibility with the target audience and ultimately lead to more conversions.
Key Takeaways
- Blend awareness of the marketing moments of truth to make content more appealing to the target audience
- Host a weekly live streaming show to engage with customers and build brand awareness
- Use email and social media advertising banners to drive traffic to the live streaming show
- Use a combination of these methods to generate new business
- Ensure that all content is optimised for search engines to improve its visibility
FAQs
Q: What are the marketing moments of truth?
A: The marketing moments of truth are crucial points in a customer's journey where they form lasting impressions about a business.
Q: How can a B2B organisation make use of the Marketing Moments of Truth?
A: First understand the psychology surrounding the MMT and then review and implement The salesXchange System to maximise your exposure and engagement with prospects.
Q: What is digital selling?
A: Digital selling is the process of using multiple digital channels to engage with customers in a format of their choosing, not a businesses, and therefore drive conversions.
Q: How can businesses use live streaming shows to generate new business?
A: By hosting a weekly live streaming show, businesses can provide valuable information to their target audience and answer any questions they may have. This can help build trust and credibility with the target audience and ultimately lead to more conversions.
Conclusion
In conclusion, the Marketing Moments of Truth are a critical aspect of any business's growth strategy. By understanding the different moments of truth and how they influence a customer's decision-making process, businesses can tailor their marketing and sales efforts to effectively communicate with prospects and convert them into customers.
Digital Selling is a powerful strategy that businesses can use to generate new leads and reach their total addressable market in a cost-effective and efficient way. By leveraging a combination of email marketing, social media advertising, and live streaming, businesses can pivot towards digital selling and grow their customer base. Don't miss out on this opportunity to transform your business and reach new heights.
The author and founder of salesXchange, Nigel Maine is a B2B marketing and sales expert with a proven track record in scaling up growth for Technology, SaaS, and Professional Services organisations. With 30 years hands-on experience and unique approach, Nigel has developed an effective strategy that dramatically increases exposure and profitability for B2B organizations.
