Word of the Day: moment of truth (marketing MOT)

Word of the Day Daily updates on the latest technology terms | April 1, 2019 moment of truth (marketing MOT) A moment of truth (MOT) is marketing lingo for any opportunity a customer (or potential customer) has to form an impression about a company, brand, product or service. Marketers strive to use moments of truth to create positive, customer-centric outcomes. The concept itself is very simple -- if every customer interaction has a positive outcome, the business will be successful. Although moments of truth can include mass communication, a MOT's power comes from those interactions in which the communication is personalized. The value of a moment of truth was first conceptualized in the 1980s by Jan Carlzon, the CEO of Scandinavian Airlines Systems and expanded upon by A.G. Lafley when he was the CEO of Proctor & Gamble. Customers have an expectation that each moment of truth will provide accurate information and an effortless interaction with an organization. There is significant downside risk if moments of truth do not achieve a baseline level of an individual's expectations and customer satisfaction (CSAT) rankings are poor. The challenge organizations face regarding moments of truth is to identify every possible customer touchpoint and optimize each one, whether it is a recurring experience, such as sending out a billing statement, or a one-time communication with a sales representative over the phone. Different types of MOTs The following list is an aggregate from several different sources: Less Than Zero Moment of Truth (<ZMOT) - an event occurs that inspires the customer to think about making a purchase. Zero Moment of Truth (ZMOT) - the customer begins researching a product. First Moment of Truth (FMOT) - the customer is looking at a product. Second Moment of Truth (SMOT) - the customer purchases product. Interim Moment of Truth (IMOT) - the period of time from when the customer purchases a product to when he receives it. Sometimes called Absolute Moment of Truth (AMOT). Third Moment of Truth (TMOT) - the customer provides feedback about the product. Quote of the Day "In this age of the customer, as some analysts now refer to it, companies have become increasingly aware that they need to reach customers in their communication channel of choice -- not dictate the communication mode themselves." - Ernan Roman Trending Terms customer-centric customer satisfaction brand experience voice of the customer chief customer officer customer retention Learning Center 4 CX challenges facing organizations and how to address them Organizations face many CX challenges, but most land squarely in the domain of communication. Read on to learn about these issues and how to address them. JOANN Stores hires new CIO to push customer experience strategy In yet another sign that engaging customers is a top priority in digital transformation efforts, fabric and craft retailer JOANN Stores ties the hire of a new CIO to improving its customer experience strategy. 10 ways to improve the customer experience today The enterprise today focuses heavily on CX. Read on to learn how to improve the customer experience with these 10 initiatives any company can implement. Develop a customer-centric culture with customer-centric policies Companies believe that building a customer-centric culture is important, but key barriers like lack of policy and data silos are getting in the way. AWS DCX Competency vets cloud customer experience partners Vendors see the AWS DCX Competency as a gateway credential to Amazon Personalize, a recommendations engine built from Amazon's own shopping site. A new CX ecosystem could rise to challenge current market leaders. Quiz Yourself The question on everyone's _____ is how to improve customer experience and cut costs at the same time. a. minds b. mind Answer Stay in Touch For feedback about any of our definitions or to suggest a new definition, please contact me at: mrouse@techtarget.com Visit the Word of the Day Archives and catch up on what you've missed! FOLLOW US About This E-Newsletter This e-newsletter is published by the TechTarget network. To unsubscribe from Whatis.com, click here. Please note, this will not affect any other subscriptions you have signed up for. TechTarget, Whatis, 275 Grove Street, Newton, MA 02466. Contact: webmaster@techtarget.com Copyright 2018 TechTarget. All rights reserved.