Tuesday, September 2, 2014

The Zero Moment of Fuel

(1:04) A couple of years ago I did a series of Minutes based on the ebook Zero Moment of Truth or ZMOT written by Jim Lecinski of Google. If you missed them or simply wish to refresh yourself, you can find them in my blog. The first entry is here:

(0:56) The book explored how the internet has changed the way consumers search out and purchase goods and services. It should come as no surprise that the impact has been monumental. The world has changed in ways that make the old way of doing things obsolete. ZMOT has completely changed the rules. As I stated in the series:

(0:48) "To successfully navigate your customers' ZMOT, you need to understand what information they are looking for, and where and how they will find it. You no longer have the choice of simply presenting them the message you want them to hear. Consumers want real information, in real-time, whenever they want it. Provide them that and you can win."

(0:39) The good news is that I've witnessed huge changes in the ways marinas and boatyards are communicating information to existing and new customers. They are finding success by acknowledging and accommodating their customer's wishes. However, as we have been rolling out the new changes in fuel pricing, I've discovered more resistance in this one area.

(0:30) Boaters feedback to the new fuel features has been overwhelming. Hundreds of emails last week created one of the biggest responses we have ever received. They want quick and easy access to fuel pricing information and will use that to make their purchasing decisions. They don't want to call by phone to get fuel prices any longer. If your price isn't available, they'll go elsewhere. But some marinas are still in the old world of "I don't want my competitors to know my price."

(0:19) If you compete on fuel, your competitors already know your price and it didn't take the internet to get it. Be honest, don't you know your competitors' prices?

(0:15) Refusing to publish your pricing where your customers want to see it doesn't hurt your competition. It's only hurting your customers. And many today, if not most, will go elsewhere.

(0:10) I think Jim Lecinski says it best: "There are two heroes: the consumer who does the research, and the marketer who is smart enough to be there at the moment the shopper is looking for them."

(0:05) Make sure you're there when boaters are looking for you.

(0:02) And that's the marina minute.