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The consumer decision journey

If marketing has one goal, it’s to reach consumers at the moments that most influence their decisions. That’s why consumer electronics companies make sure not only that customers see their televisions in stores but also that those televisions display vivid high-definition pictures. It’s why, a decade ago, began offering targeted product recommendations to consumers already logged in and ready to buy. And it explains P&G’s decision, long ago, to produce radio and then TV programs to reach the audiences most likely to buy its products—hence, the term “soap opera.” Marketing has always sought those moments, or touch points, when consumers are open to influence. Interactive Exhibit 1 In the traditional funnel metaphor, consumers start with a set of potential brands and methodically reduce that number to make a purchase. Enlarge We developed this approach by examining the purchase decisions of almost 20,000 consumers across five industries and three continents. Exhibit 2 Exhibit 3

Related:  Study 1

A science of falling in love? “To fall in love with anyone, do this!” proclaimed the headline of a recent article from the New York Times’ Modern Love column. As a skeptic in everything (and what cognitive scientist wouldn’t be skeptical of such a statement?) Decoding the Consumer In the 1950’s, on the children’s live-action adventure Captain Midnight, the Secret Squadron was chartered to combat evil. Squadron members used special decoder rings to decipher messages that no one else could understand. The secret decoding power provided a competitive advantage that allowed the Secret Squadron to triumph over their opponents. Another take on why online advertising is ineffective Chris Anderson of TED fame provides some fresh ideas and metaphors as to why online advertising is ineffective in a 30- minute video. And it is ineffective. He noted that the advertising value associated with one hour of an Internet user’s time is less than $.10 and one third of that goes to Google. This number is low even compared to the challenged performance of television which comes to $.25 and print which is $1.00. It gets worse. A current solution, to impose a 15 or 30 second ad in the form of a video segment, is designed to engender frustration and even hatred, worse than pop up ads.

10 Powerful Ideas that Will Change the Way You Work Email by Karl Staib “Draw the art you want to see, start the business you want to run, play the music you want to hear, write the books you want to read, build the products you want to use – do the work you want to see done.” ―Austin Kleon How are you managing your work? What do you focus on? Pew: 25% of In-Store Shoppers Use Phones to Comparison Shop Lisa Lacy | January 30, 2012 | 0 Comments inShare44 New study examines the mobile research habits of bricks-and-mortar shoppers. More than half of consumers used their mobile devices during the holiday season to aid in purchase decisions while looking at physical products in stores. That's according to a new study from the Pew Internet and American Life Project.

Your Competitive Advantage Is Your Customers Buying Experience We have all been through a “buying experience” that was anything but pleasant. For some it was purchasing a car from a stereotypical “used car salesman” or an over-the-top pushy life insurance salesperson. For most of us it was not the features or the uniqueness of the product service that lead to purchasing, as it was the experience of going through the buying process. It is a well known fact that companies who create a superior buying experience are able to truly differentiate themselves in the marketplace. 70% of customer’s buying experiences are completed before the first contact with a salesman is made (Sirius Decisions).

Changing Dynamics – The Rise of New B2B Marketing Funnel This post was first published in DemandGen Report It has always been Sales that is responsible for the revenue, measuring how leads move from one stage to the other, with the ‘Funnel’ as the foundation. This ‘Funnel Diagram’ over time, has been recreated and modified in different forms to enable a better understanding of the conversion process. Make your soul grow Back in 2006, a group of students at Xavier High School in New York City (one of whom, "JT," submitted this letter) were given an assignment by their English teacher, Ms. Lockwood, that was to test their persuasive writing skills: they were asked to write to their favourite author and ask him or her to visit the school. Five of those pupils chose Kurt Vonnegut. His thoughtful reply, seen below, was the only response the class received. Transcript follows. (Letter kindly submitted by JT; Image: Kurt Vonnegut, via.)

Accenture, comScore, and dunnhumbyUSA Study Shows Direct Correlation Between CPG Brand Website Usage and In-Store Purchase Behavior January 30, 2012 Accenture, comScore, and dunnhumbyUSA Study Shows Direct Correlation Between CPG Brand Website Usage and In-Store Purchase Behavior CPG Brand Website Visitors Spend 37% More on the Brand and 53% More on Product Category in Retail Stores