F2F Class Notes (Ben) [S]

Vocabulary

melancholic = a sad but gentle feeling, the feeling you have when you think of your childhood
On the last day of my job. I was a bit melancholic to leave a place where I had spend so much time.

in the first/second half of the month 

Marketing is collapsing. The distance that used to exist in consumers’ buying journey, we would hit our target audience with some marketing stimulus, like advertising to build awareness and interest. Time would go by at some point in future, the prospect would hopefully make a buying decision. They would choose a brand like us or our competitors.

We call it the first moment of truth. And when they experienced what they bought, we got the second moment of truth – do they like it? would they buy it again?

The important thing to note here is the distance between marketing stimulus and customers could be quite large, like days, weeks or longer, so that’s why the concept of recency and frequency was so important in advertising.

However, nowadays, in our digital and mobile world, the distance is collapsing. When consumers get any stimulus, they can pursue their curiosity online directly. They can go to your website, they can search what other people say about you and they can check out your social media presence and look up their social friends or colleagues think about you.

So Google calls it “the zero moment of truth”. A consumer could be won or lost in the crucial moment.

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Marketing is collapsing.

The distance that used to exist in consumers’ buying journey is collapsing.

In the past, we would hit our target audience with some marketing stimulus, like advertising to build awareness and interest.

Time would go by and at some point in the future, the prospect would hopefully make a buying decision. They would choose a brand like us or one of our competitors.

This was called the first moment of truth. And when they experienced what they had bought, then we had a second moment of truth and knew if they liked it and whether they would buy again.

The important thing to note here is the distance between marketing stimulus and customers could be quite long, like days, weeks or longer. So that’s why the concepts of recency and frequency were so important in advertising.

However, nowadays, in our digital and mobile world, this distance is collapsing. When consumers get any stimulus, they can satisfy their curiosity online directly.

They can go to your website, they can search what other people say about you and they can check your social media presence and look at what their friends or colleagues say about you online.

So Google calls this instant access to information “the zero moment of truth”. It is the crucial moment a consumer could be made or lost.