In 2005 A.G. Lafley, who at the time was CEO of the world’s largest advertiser, Procter & Gamble, introduced a marketing concept he called “the moment of truth” for building brand loyalty. Soon retail brands aligned their strategies around two critical moments: 1) when a customer decides whether to purchase a product, and 2) when a customer uses the product for the first time. With the rise of new technologies like the internet and mobile, there are additional critical junctures for increasing the buying likelihood, including at the research stage. Five years ago, online review sites such as Yelp and TripAdvisor led to Google introducing the zero moment of truth, a crucial part of the buying process. Meanwhile, stats show that half of e-commerce is now done on mobile, heralding in the mobile moment of truth.
Online Retailers Should Care More About the Post-Purchase Experience
Retaining customers is five times cheaper than acquiring new ones.
May 24, 2016
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Accelerate your career with Harvard ManageMentor®. HBR Learning’s online leadership training helps you hone your skills with courses like Customer Focus. Earn badges to share on LinkedIn and your resume. Access more than 40 courses trusted by Fortune 500 companies.
Learn how to keep your customers—and their most important needs—front and center.