ZMOT, Big Data, Micro Moments and the Overthinking of Everything

[Jlewis74]

In what will be my last message on this (I simply do not have the time for Forum discussions - my apologies)

Why even make the post then? Is posting on a forum not about having a discussion? (just asking)

 

[Steve Stauning]

Why even make the post then? Is posting on a forum not about having a discussion? (just asking)

See, now you made me break my word.



Great question: I posted this on the forum, because I was asked to by @Jeff Kershner. The article was originally posted on my own blog and (in my opinion) is a stand-alone piece that required no discussion. In the future, I'll let others post my opinions here and debate them if they think there should be discussion associated with them.

In my experience, discussion forums aren't so much a learning/growth experience as they are about others taking a few words from a post or a reply and attacking these micro-thoughts without the full context included.

To further Jeff's analogy: I simply don't have time to slice turds that thin.

 

[ed.brooks]

In my experience, discussion forums aren't so much a learning/growth experience as they are about others taking a few words from a post or a reply and attacking these micro-thoughts without the full context included.

Please accept my apology for quoting you Steve ; I shan't do it again.
Again, I need a damn sarcasm font

 

[TomLaPointe]

There is a reason OEMs make stores build $8 million facilities... Because the transition to the showroom is critical. But shouldn't marketing be as important as the rent factor?

 

[Alexander Lau]

BI, Big Data, analytics : What’s the difference?
https://www.clearpeak.com/the-difference-between-big-data-analytics
By: Brad Cowdrey

BI (Business Intelligence)
There are some helpful differences, however. Although BI often encompasses all other terms, that specific discipline is primarily concerned with finding answers to known questions such as what is happening right now in certain areas of a business. Think “known knowns.” BI’s primary objective is achieving better information visibility. To avoid waiting two months for that visibility, many businesses are side-stepping analysts in favor of self-service BI. That’s what we’ve seen with our customers half of the time; for the other half, it’s managed intelligence.

Big Data
Meanwhile, Big Data can help you find answers to questions you didn’t know you had or hadn’t thought of before. Think “known unknowns” or “unknown unknowns.” The more you study the data, the greater likelihood you’ll find new insights. For instance, you may discover a new opportunity that’s not being met. That’s why data scientists are in such high demand. Unlike data analysts who tell you how your baseball team is doing today, data scientists are like a baseball scouts, helping you uncover new opportunities.

Analytics
Lastly, analytics or business analytics (BA), sometimes called data-mining, can mean just about anything. Ask five experts and you’ll likely get eight different answers. It can include requests for useful numbers on how a national marketing campaign is generating leads or how your corporate website is performing. Or asking questions behind the data before a final decision is made. Or it might be providing visualizations or graphs on what’s happening. Or maybe it’s analyzing targeted or broad volumes of data.

All three terms—BI, Big Data and analytics—can be linked to an easy-to-understand dashboard. BI usually asks what is happening while Big Data and analytics attempt to answer why. But again, it’s mostly semantics.

 

[Alexander Lau]

What’s the difference between machine learning, statistics, and data mining?
http://www.r-bloggers.com/whats-the-difference-between-machine-learning-statistics-and-data-mining

 

[ed.brooks]

...

• Only the largest groups (probably the Top 25 or so) can afford to maintain true marketers on their teams. Everyone else relies on others (like their Ad Agency or vAuto of Facebook or ...) and basic, boring measurements like ROI.
• Most of the largest groups, by the way, who spend time chasing the cool instead of the boring, LOST MARKET SHARE in 2015. Every dealer I know who gained share in 2015 was process-driven and focused on the customer experience (mostly in-store) and likely didn't utter the words "Big Data" even once in that time.

I look at it this way: Computers are critical to the success of a dealership in 2016 - no one would argue that. Does it pay for any dealership to (A) Try to build their own computers or (B) Try to write the software for these computers? No and No.

With Big Data, ZMOT and Micro-Moments it's the same thing. The average dealership manager has a cursory knowledge about how certain software works (like vAuto), but beyond that, we don't need him learning how to write the code.

Certainly no dealerships need employ Data Scientists but I can argue that good marketers do need a little more than a "cursory knowledge" of the concepts behind things like 'Big Data' and 'Micro-Moments, if only to help them choose vendors in the space.

You don't have to make the sausage yourself, watch the sausage being made, or even need to know all of the ingredients, but it helps to know the difference between andouille and Jimmy Dean's if you're going to be cooking dinner.

From 05/12/2013 - DrivingSales

"It's not the size that matters; it's what you do with it that counts (and, yes, I’m still talking about data). Any military intelligence officer will tell you that information gathering is just the start of the job. Analysis and packaging of the intelligence so that is clear, concise and usable by commanders in their decision making is vital. Huge amounts of data aren't the trick; the trick is to turn it into something useful!

I don’t think concept of big or small is important; so let’s put the big idea of “Big Data” away for a moment. What sort of data does a car dealer need to make important decisions that affect his business? I believe the test of data – and its analysis – is threefold; it needs to be Timely, Relevant and Actionable. If it fails any of these criteria, it is nothing but a distraction. Dealers don’t need bad data (or a poor analysis) muddying the waters. Data that isn’t timely, relevant or actionable blurs the picture. And the last thing a dealer needs is more (bigger) old, irrelevant or useless data."
​

'Timely, Relevant and Actionable' is key, but the packaging of the data so it is clear, concise and usable is crucial.

 

[Michael Warwick]

As our friend Jeff Kershner so eloquently Tweeted last week:

“A few years ago everyone was going BONKERS over ZMOT and now going BONKERS over Micro-moments. It's like breaking up a turd into pellets.”

While I might have stated it differently, for 99.9% of companies out there his sentiments are 100% spot on!

If you’re the Chief Marketing Officer for an OEM, then by all means, dive as deeply as necessary into ZMOT, Big Data and Micro-Moments. But, if your workspace happens to be at the same address as the retail establishment where you manage digital marketing or oversee internet sales, and you waste more than a few minutes reading about Micro-Moments (like the weeks you wasted trying to perfect ZMOT or leverage Big Data for your store), then you don’t have a very good understanding of what actually drives your business.

When it comes to selling something at retail – whether a car or a sandwich – slicing up the consumer decision making processes into layers too thin to work with gets you nothing but confused – especially when you’re measuring things that you cannot control or even act upon. Time and budgets are finite; and you can only manage so much. Given this, why not focus on those activities that have more of a direct correlation to your business success?

Another way to put this: When everything is critical, then nothing is. (If you think becoming an expert at Micro-Moments is critically important for customer acquisition and retention, then how critically important is a clean restroom or a smiling receptionist? I would argue that a dirty restroom and a rude receptionist will lose you much more business than never having heard about Micro-Moments.)

If you’re an internet manager, it’s much better IMHO to focus your marketing and sales efforts on those things you can (1) Easily Measure; (2) Quickly Understand; and (3) Successfully Influence. For most of us, that means we need to set our sights on the boring and the routine and the effective.

For dealers, this means tedious things like ROI measurements, sales processes, and manager accountability. None of which you will learn about through ZMOT, Big Data or Micro-Moments.

Okay, now bring on the hateful retorts...

I agree with Steve 100%. The most successful dealerships focus on doing the basics brilliantly. Instead of worrying about Big Data, how about making sure your receptionist knows how to answer the phone like a professional? Make sure every process in the store is completely dialed in before concerning yourself with micro moments. The more complicated we try to make selling cars, the more it comes down to basic blocking and tackling.

 

[ed.brooks]

I agree with Steve 100%. The most successful dealerships focus on doing the basics brilliantly. Instead of worrying about Big Data, how about making sure your receptionist knows how to answer the phone like a professional? Make sure every process in the store is completely dialed in before concerning yourself with micro moments. The more complicated we try to make selling cars, the more it comes down to basic blocking and tackling.

I agree with both you and @Stauning -- basic blocking and tackling is crucial. Having a receptionist that knows how to answer the phone is vital. Being operationally solid in your processes is a necessity!

BUT, all of these things happen AFTER the customer makes contact. The customer picks up the phone, submits a lead, or walks into the store, and then it's game on!

But at many of the best run dealerships, there are one or two people thinking about what happens before the customer makes contact. The places where the dealer can get noticed and, more importantly, influence the consumer. That's where ZMOT and micro-moments come in. And yes, those are goofy, made-up terms; but they describe the 2 to 3 month journey a customer and the 18 to 24 sources they utilize BEFORE the customer makes contact.

And yes, desk managers and Internet Sales Managers need to be consumed by the basic blocking and tackling of interacting with customers on the floor or on the phone, and if they they are "(g)oing to eight conferences to learn about Micro-Moments and then making major changes to the business model" that would be insane.

But there is room -- at well run stores -- for one or two people who think like marketers (and not like desk managers).

 

[joe.pistell]

Dealer decision makers:
Un-complicate your life, ask yourself "Does It Sell Cars?" (DISC)

Try it, it's a great tool. Look at your todo list right now.

DISC falls into 3 classes. Does it DISC?

1. F*ck yea
2. Kinda
3. No.

Ignore #2&3 until all #1's are done. It's that simple.

HTH
Joe


p.s. DISC is a learning tool, use it daily, you'll be amazed on how far it'll take you.
p.p.s. Use DISC to judge new products and new research (like ZMOT).