Tuesday, August 22, 2017

The Zero Moment of Fuel

(1:04) These past few weeks I have been revisiting Minutes based on the ebook Zero Moment of Truth or ZMOT written by Jim Lecinski of Google. The ZMOT principles cover all aspects of consumer purchases. It's important that you not overlook any area of your marina business.

(0:56) The book explores 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, there is one area that I sometimes find marinas falling short and that is in providing accurate and up-to-date fuel pricing.

(0:30) Boater feedback to the ActiveCaptain Fuel Lists has been very positive. I continue to hear from boaters who love how easy it is to compare pricing and other features. 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.