Just Asking For a Friend: The Consumer Journey
March 27, 2019
The consumer journey has seen a lot of change over the years. Traditionally, it was thought of as a funnel. A linear process regardless of the industry or purchase type. B2B and B2C marketers alike agree that every single project, asset or initiative undertaken, has been driven by the idea of corresponding to one stage of this funnel. The theory behind the linear sales funnel is that marketers need to cast the widest net possible to ensure they are reaching everyone they can with their messages. Then as consumers travel down the funnel (along the consumer journey) they are siphoned out if their intention is not to purchase. The traditional model is an over-simplification of what is actually taking place, as consumers take many different paths-to-purchase including re-entering the funnel for subsequent purchases.
Today’s Consumer Journey
Today, the path-to-purchase is not linear or “funnel-like” but rather cyclical and multifaceted. Understanding the various sources of information and inspiration that consumers have towards purchase decisions is necessary to truly conceptualize the fickle consumer and all the ways they can be intercepted and brought into the journey.
As McKinsey points out, consumers are actually perpetually involved in the everlasting loop of engagement. New marketers enter the consideration set only by actively exposing themselves in the correct moment with the hope to intercept consumer’s loyalty to a brand they already purchase. In order to do that efficiently, marketers need to optimize their digital efforts and be weary of wasted dollars on consumer journey activities that don’t contribute to a final conversion.
Compressing the Consumer Journey
We believe that your technology vendor should play an active role in helping you to optimize the consumer journey by accounting for all the various messages you create (traditionally built for a particular place in the consumer journey) and all the channels you deliver on and should guide you to the shortest cycle of awareness to purchase. Our technology boasts a Journey Compression Algorithm, which optimizes digital campaigns towards the shortest path to conversion. It learns the best sequence of creatives to expedite the conversion process.
The result is a smarter, faster, and more efficient way to connect with audiences. Stay tuned over the next few weeks as we break down more topics in our “Asking for a Friend” series!