Breaking Down the Buyer's Journey
Jul 12, 2022
The buyer’s journey lays out the process the buyer takes when buying a product or service. Understanding this journey allows you to be better prepared to meet your customer’s needs each step of the way.
Stage 1: Awareness
In this stage, the customer is made aware of a problem they would like to alleviate. They research this problem so they can better identify it.
Actions you can take in stage 1.
You can provide the prospective client with information to educate, entertain, or inspire them.
For example, your company could provide information through brochures, blogs, website content, press releases, videos, and social media. Not only will you inform your client base, but you will also grow your clients. According to HubSpot, blogging increases your website traffic by about 55%.
Stage 2: Consideration
Now, the prospect has identified the problem and begins to research ways to alleviate it. The prospect will start to compile a list of products and brands.
Actions you can take in stage 2.
You’ll want to effectively communicate to the prospect how your business can solve their problem and why you can better provide what they need over your competitors.
Continue to provide resources to your prospect, this time focusing on what makes your product or service stand out through your unique selling proposition.
Stage 3: Decision
Now it’s time for the customer to decide which company and product to go with.
The customer has done their research. Throughout their research, your company has hopefully come up multiple times as a reliable resource for them. This in itself will subtly make your company more attractive.
Actions you can take in stage 3.
You must be able to respond to potential objections or hesitations the customer may have about buying from your business.
Provide a unique selling proposition to better help your business stand out. This will help your business maximize conversion rates, turning prospects into customers.
Stage 4: Post-Purchase
The customer has completed a purchase and will eventually consider buying from you again.
Statistically, past customers are much more likely to buy from you compared to prospective customers. According to the book Marketing Metrics, businesses have a 60-70% chance of selling to an existing customer compared to only a 5 to 20% chance of selling to a new one.
Actions you can take in stage 4.
It’s your job to continue interacting with your client, so they purchase again.
Perhaps send them flyers through a direct mail campaign to accomplish your goal of turning a one-time customer into a loyal one. Thank them for their purchase and provide a call to action.
Every buyer’s journey is unique.
Knowing the buyer’s journey framework is helpful, but keep in mind it breaks down an extremely complex process into the simplest form.
The exact buyer’s journey varies depending on the industry and the buyer. Therefore, do your own research into your customers’ unique buyer’s journey. Perhaps try asking for feedback and providing gift cards as an incentive.