I rarely respond to banner ads (as does the majority of the population) However when I was confronted with an ad for Google’s latest tome “ZMOT-Winning the Zero Moment of Truth.” I just had to respond. here was the promise of research based insights into what’s important at that critical decision point where a prospect turns into a customer.

So I click on the banner and I am at a purpose built landing page, video rolling and carefully crafted, concise review designed to whip up my initial enthusiasm and guide me over the edge. But wait… where is the buy now button? Quick look at the hot zones of the screen, ah there in the top right corner not one button but four. Yes the big blue one with the words DOWNLOAD and FREE bolded, this must be the one for me, but wait there is an option do I need the standard version or the enhanced version? A quick read of the details and yes standard is ok for me. That big blue button is drawing me in, but wait do I want to preview the book… no lets just go the whole 9 yards. Big blue FREE button here I come? Click oops -404- error page not found with commentary from Google saying “that’s an error and that’s all we know”  OK back to the landing page and click on the standard ebook button, so what if I have to go through a few more steps, my Zero Moment of Truth is waiting. Click – I am whisked away to the Google Ebook store. Now this is a pretty minimalist page, just the title ZMOT, yes that is what I want, where is the buy now button, it must be here somewhere? Nothing just a preview this book button, a QR code and links to two reviews. OK so Google must really want me to preview this book (You never know this could be a dangerous tome and if I am not forced to preview it I might put myself in mortal danger?) OK so I will preview it Google. Click – Off I go to the Google eBook store preview sub-system, yes this is the book I want and no I don’t think I will hurt myself by downloading it, now where is that damn download button? It has got to be here somewhere?  The preview will only allow me to see a few select pages, whoa wait a minute, isn’t this a free book? Why can’t I see the whole thing? Is someone in Google scared that I will steal a free book?

Okay let’s sit down and think here, maybe this is a conspiracy hatched by Google to see who really, really wants this book (no tire kickers needed around here thanks.) and can jump all of these hurdles to get a free copy of “Zero Moment of Truth”.  I am up for the challenge this is going to take strategy and stealth. Back to the banner add to plan my attack.

1. Great banner advert good branding, good call to action, click the download ebook button. Does this download the ebook, no back to the landing page video rolling. (Deja Vu)
2. Big blue button FREE click -oops -404-
3. Click on the ebook button – off to the Goggle ebook store again but no method of download or buy.
4. Ah maybe I need the enhanced version click – oops off to a company called vook (who are they?) but at least they offer to sell me my FREE ebook if only I had an ipad, iphone or kindle.
5. Back to the landing page.
6. Click on the ebook button (again) let’s read the reviews someone must have figured out how to get this Free eBook “Zero Moment of Truth.”
7. Hey 10 reviews all complaining about Google just trying to lure you in to get your credit card details to get a FREE book. Heck I didn’t even get to that point. But wait!
8. A kind sole has posted the download link.
9. For your “Zero Moment of Truth.” just use this link like I have and save yourself some time.
10. http://google-zmot.appspot.com/google-zmot.pdf

So what’s the book like, do you think I have had the time to read it, I spent all morning just getting it.

Note to Google – Fail

Can you keep a secret?

Let me give you a tip! – today, nobody can.

There was once a time when retailers were charged with the responsibility of “curating” information provided by a select set of vendors and then presenting this information in a moderated way to the consumer. Having control of this information channel had its benefits. The retailer was the kingmaker. Profitability and product selection could be heavily influenced in favour of the retailer. Consequently B2B relationships were paramount to a vendors success.

As a retail buyer it was my responsibility to walk the fine line between maximising profit for my employer, providing the consumer with an adequate selection at a competitive price and maintaining relations with my vendors. This task was extremely difficult when vendors like Apple and K-Tel (showing my age here) drove direct consumer demand.

Today when consumers have almost ubiquitous access to consumer ratings and review, comparative pricing services and product information, there is no doubt they hold the balance of power. Retailers now need to focus on areas of the buying cycle where they can add value. This is in stock availability, delivery and after sales service. So the focus has changed from being and advocate for a product brand to positioning their own brand  clearly in the consumers mind.

So if the retailer is going to reduce the focus on the product brand what becomes of B2B? Vendors need to recognize that today it is B2E (Business to Everyone). Information needs to be presented so that is can be re-purposed by all of the new players in the digital world. Above all there must be the recognition that nothing can be maintained secret anymore. (Wikileaks has certainly showed us this)

You have probably heard the current furor happening in the retail industry where the major retailers are “bleating” about online retail having an unfair advantage in the current GST regime.
Technically this is correct, but this is not the reason that the majority of retailers are feeling significant pain. Here in Australia our major retailers have failed to see (or ignored) a major change in buyer behavior that has been catalyzed by the digital age.
Prior to Facebook, Twitter, Blogs, peer product reviews and online pricing services, the consumer needed the retailer to aggregate product and price information. A skillful retailer would then interrogate the customer and put forward a solution.

In the digital age all that has changed. The consumer comes to the retailer much later in the buying cycle and is armed with more product information (that is more contextually accurate) than any retailer can be expected to know.
The consumer for all intents and purposes has made the product decision, what they want to know now is what added value can a particular retailer augment the transaction with.
Australian retailers have failed to identify this trend, or have been too slow to adjust their model to capitalize on the change. The current outcry. “It’s not fair” is merely a red hearing. The root of the problem is that today many of our mainstream retailers are just not giving the customer what they need.

In the not too recent past many retailers have been able to largely control the dissemination of information. This is the equivalent of “Marketing Utopia”, No one can maintain this environment too long into the digital future.
It is now time to “open the kimono.” Successful retailers will position their brand in the customers mind as the easy and safe alternative to conduct a transaction.
If you can make it easy to do business, reassure the customer that they are paying a reasonable price, and guarantee that you will be there for them in times of need, you will win.
The skill here will be in streamlining the customer interface and identifying the “times of need” that resonate most with the customer.

There is a seismic event building in the retail marketing world. Like any major event it is starting as a barely perceptible deep rumble. There are a few monitoring stations starting to pick up the cues. But like any earthquake there are bound to be casualties.

So what am I talking about here?

Well we need to go back to a bit of marketing theory just to provide the context, so indulge me a bit here.

As marketers we were all taught about the importance of market segmentation and its importance in identifying a specific target market. Just to refresh a market segment to be viable had to be:

• Measurable
• Differential
• Accessible
• Substantial

Now I am not suggesting that this has changed. Technology has changed the way we view segments. The analogy is that when this framework was first proposed we used telescopes and sextants to locate and view viable market segments. Today we have electron microscopes and satellite tracking to do the same job. We can see so much more today. Using tools (and I use this term specifically) like Google, Facebook, Linkedin and Twitter we can measure and differentiate segments with acute accuracy. We can then use a combination of the same tools to aggregate and access these segments, so much so that market segment that were never substantial enough to serve, can now be targeted efficiently and effectively.

So what is the impact on retail?

I predict that we will see the development of many more niche products. It will not take long for entrepreneurs to realize that modern production, logistics and marketing systems allow for the aggregation, sale and distribution to what were once considered uneconomic market segments.

The danger here is that traditional retail loses relevance in this model and is relegated to serving mass market products.

And to paraphrase Seth Godin in a recent blog post;

“you come to one inescapable conclusion: be better, be different or be cheaper. And the last is no fun”

The next 5 years will be challenging times in retail.

In 1984 Apple launched one of the most talked about TV commercials in the marketing world. Contrary to popular belief this commercial only ran once in a paid format.

Just to jog your memory here is the clip.

This was a world changing moment. From these beginnings we find ourselves in today’s connected world.

Are we seeing a similar moment? My prediction is that the iPad and tablet devices will change the way we consume magazines.

Australia has one of the worlds largest magazine consumptions on a per capita basis. My prediction is that Australia will be the bellwether of this change.

Logistics will dictate  a move to iPad publication for the magazine industry. We will see a wave of niche titles become available once logistics costs are stripped.

This will lead to a whole raft of new communication opportunities for marketers. Am I the only one thinking this way?

Apparently not; this week Richard Branson launches “Project” an iPad only magazine. Read more about this in the following article from Fast Company.

“Will Branson beat Murdoch.”

So what does this all mean?

It is too early to tell, but I am thinking that if I am a newsagent that relies on magazine sales I would be afraid, very very afraid.
Get ready for yet another game changing Tsunami. Make sure your are on the high ground.

There was once a time when if you asked what someone was going to do in retirement, the answer would be, move to a seaside location and open a little shop of some sort.

These were also the times when a lot of “significant others” (don’t you just hate PC) would operate a small store in the local suburb, town or village as a hobby.

Today these statements are as outdated as walking in front of an automobile with a red flag. We have moved on.

• Retailing is not a hobby.
• Retailing is not a retirement choice.
• Retailing is tough, fun and satisfying.

If you want to make a small fortune today start with a big one and go and open a shop for fun.

Making your retail store relevant in today’s online world is a tough gig. You are competing on the world’s stage and you better have something of value to offer your customer.

Here is a link to a great article by Alan Treadgold of Leo Burnett. Before you retire to that nice little shop be the sea give this a read.

Retail – Reimagined

Facebook could possibly change the balance of power in marketing communication with their new email initiative. Couple this with Googles priority inbox program and the rise and rise of peer reviews as a pre-purchase tool and we are looking at a seismic shift customer communication.

Positive word of mouth endorsement, while always important, now shoots to the top of the list in terms of marketing imperatives.

Do you have a strategy to manage your online reputation? If you do not join the conversation you will progressively become less relevant to your potential customers.
Now is the time to review your word of mouth and referral initiatives.

I was reading an article yesterday and the author compared Facebook to a country. If Facebook does have north of 500 million subscribers, as is reported, it is now equivilent to the third largest country in the world. Only exceeded by India and China. Just think of the retail opportunity. We know where the customers are, who they are and more importantly what they like.

Could Facebook provide the platform for the holy grail of narrowcasting or “mass” one to one marketing.

My prediction is that the next retail multi millionaire will emerge having used Facebook as his/her marketplace.

Don’t sleep through the “wake up” bells.

Apologies to Dylan.

Just picked up a presentation from the 2010 Web 2.0 Summit by Morgan Stanley that was delivered 3 days ago.
Normally I would not suggest reading a 49 page tome on the internet.

However..
There is gold in this one. Almost every page has an ah ha moment.

If you do not want to read this thats ok. Just unhitch your horse an head off to the digital desert.
(I will come looking for you in two weeks time and kick your bones around.)

Download the presentation here.

Internet-Trends-Presentation-Morgan-Stanley-Nov-2010