For each brand or product, there is a moment that is crucial to whether the product or service is to be purchased or not. From the many conversations that DVJ Insights has with CMOs, marketing directors and CMIs each year, it becomes clear how important this moment is and how much effort it takes to be effective in this important moment. What marketers are doing during “The ultimate Moment of Truth” to win the favor of the consumer or customer, shows the annual Brand Growth survey conducted by DVJ Insights among more than 2,300 marketers in Europe.
The survey shows that only 51% of all marketers have a clear definition of the Moment of Truth. It also means that for 49% of marketers, this important moment is not defined! Traditionally, we see a lot of attention in the science of consumer MoT. You would therefore expect B2C marketers to have defined a MoT more often. Nothing could be further from the truth: 61% among B2B marketers have a clear picture of MoT compared to 45% among their B2C colleagues.
Top artists have a clear picture of “The Moment of Truth”
The importance of having a clear picture of MoT becomes clear when we look at the differences between the best (growing companies or winners) and the underperforming companies (shrinking or stable companies or losers). Here we see a difference of as much as 28%, which indicates the importance of clearly defining MoT. Especially a bad experience with a company / brand can make customers overflow.
Top 10 brands that score well on ‘The Moment of Truth’
But which brands and companies score well at MoT? To find out how marketers can learn from the best, all respondents were asked to name the companies (open question) that clearly differ and are successful, leading to a clear top 10:
It is noteworthy that some companies are only mentioned in their own country, such as Tony Chocolonely and Philips in the Netherlands and Lego in Denmark.
Learn from the ‘winners’
It becomes more interesting when analyzing why these companies are in the top 10 and which “winners” do better than underperforming companies. These insights lead to the following 3 recommendations for marketers:
These top players have a very clear strategy that is completely focused on winning during the MoT. The clarity with which they do this and the attention they give to this are characteristic. On the one hand by paying attention to the place where the MoT takes place and on the other hand by defining as many places as possible where you can make a difference. So use a clear strategy.
The companies that do well at MoT show new ideas time and time again and are innovative and creative in their implementation. Every time they add something or do something else that keeps them ahead of the competition.
In many companies, MoT is known by the marketing management, but less known by the marketing staff of the team of these CMOs. 71% of CMOs have defined a Moment of Truth for their organization. It is much higher than brand manager (58%), CCO (55%) and CEO (48%). It indicates how much attention is structurally required of all marketers and that MoT should not be limited to just the boardroom.
Defining MoT is crucial to success and growth. Companies that do this and define a clear moment are much more successful than companies that do not. It is so much the more remarkable that only 51% of all marketers have clearly defined an MoT. It is therefore important that marketers start by defining this MoT. To do better than the competition, it is important to: 1) involve everyone in the organization in this MoT and 2) innovate a lot to be distinctive in this moment of winning.
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