Customers have more choice than ever before. This is true whether they are deciding which food to buy in a supermarket or they are deciding which company to partner with on a million dollar contract.
The internet has changed the game, and the “Buyer’s Journey” is a term given to the steps a potential customer goes through, from first being aware that a service or product exists, all the way to making a purchase.
It is estimated that takes place online, so it is vital that a company makes the right impression through their branding, marketing materials, and communication.
Let’s explore the Buyer’s journey stages, and the considerations a potential customer will usually go through before committing.
What is the Buyer’s Journey?
It is all about the time and mental steps between realising there is a need for a product and service, choosing a supplier, and making the purchase.
Buyer’s Journey Stages
The buyer’s journey can usually be split into three distinct stages. These may vary depending on whether we’re talking about buyer journey Vs. customer journey in the sense of B2B or B2C, and higher purchase-price products may need more consideration.
Generally, though, the stages are:
Awareness
For instance, in a B2B buyer’s journey the example may be: “my website traffic isn’t really converting to sales”.
B2C buyer’s journeys can start with a thought like “my favorite shoes have started to give me blisters”.
The awareness step in the buyer’s journey plants the seed for more intense research. Some research may take part in this part of the journey and a lot of this involves Google searches. “Why do my shoes give me blisters?” could be the next step in the journey.
Consideration or Evaluation
The buyer has worked out the problem and has a clearer idea of what it is. To continue with our two examples above, the thoughts at this stage are likely to be more in line with:
My website isn’t converting because I haven’t done anything to showcase my products.
My shoes have become worn and aren’t giving me the support they once did. Time for some new ones.
The pain point is clearly identified, and the buyer can start to look at solutions. At this point, they delve into more research.
The B2B buyer might start researching the benefits of visuals, and improving their branding by using to build trust and showcase their products. They might even take a tentative look at some services at this stage.
The B2C example continues with our shoe buyer looking into the best shoes for their needs, offering good arch support and avoiding blisters.
The Decision Stage
The final steps of research, when a buyer has decided that they are interested in a service or a product that could potentially solve their pain point, but need to finalize their research before making a purchase.
This step will include looking at testimonials or a company’s portfolio to help make the decision of whether they want to go with their product or service. To use the B2B buyer’s journey example of a customer potentially looking to work with a video production service, they are likely to want to check their before they make a final decision on whether to proceed.
Finally, the decision is made and the buyer completes their journey.
Looking for guidance through the buyer’s journey, and how a marketing plan involving video and branding services can help you to convert new customers? .
Using Buyer’s Journey in Marketing
The main difference in how people buy now compared to 20 years ago is arguably just content. Brands can provide the content required at every stage of the buyer’s journey.
If we think of the buyer’s journey as a , as mentioned above, then it is easy to understand how companies can embrace it by becoming part of each step.
For example, if we take the example of new shoes once again, you can see how the shoe company has a chance to insert itself into the buyer’s journey.
At the very top of the funnel, they may be using adverts to appear on social feeds, or even blog content and editorial features to get into peoples’ consciousness. This is where brand awareness plays a big part.
As a potential customer advances through the funnel, you can help to simplify their journey. For example, as they want more information about your product or service. In our shoe example, this might mean providing information about the shoes. Videos of them in action, testimonials, and an appealing product description. This is why the focus for so many companies is on how they set themselves apart from the competition.
By making it easy to do the research, and providing information that will be relevant to the buyer, you simplify the funnel. You’re engaging the customer and building a relationship in time for them to make the decision on what to buy.
A customer is less likely to go elsewhere or to continue looking if you provide them with the answers to their questions, and a solution to their problems.
The conversion part of the funnel is about an appealing offer. Fixing the pain point at an acceptable price, having built enough trust for your new customer to proceed with the purchase.
B2C Vs B2B Buyer’s Journey
Price makes a big difference, of course. If you spot a cheap item in the store and think it looks useful then your buying journey is going to be quick. When buying a car or a home, you are likely to do so much more research along the way as you establish whether it is right for you.
Another huge contributing factor is whether the customer is buying a B2C or B2B product or service. Buying some shoes is very different to entering into a long-term commercial partnership.
Let’s look at some of the differences in the B2B buyer’s journey when compared to B2C.
More People Are Involved
When signing off a B2B deal there are likely to be more people involved. B2B buyer’s journey research by suggests that the buying cycle is longer, and 80% of B2B purchases involve up to six people.
This can mean more due diligence, too. Online resources are used to check business credentials and feedback, which is another reason for companies making great content such as blog posts and corporate videos to aid sales engagement.
The Price Point May Be Higher
Products and services that cost more often require more research. The funnel or buyer’s journey is inevitably prolonged.
More Interaction May Be Needed
In a B2B transaction it may not be as simple as hitting the “buy” button on a website. Instead, the buyer might bok a free consultation or ask for a quote before committing to any sort of purchase. Interaction between buyer and seller can be a chance for both to see if they are a good fit.
Bottom Line: The Importance of Buyer’s Journey
Every marketer needs to understand the buyer’s journey.
It is the fundamental process of making any decision on what to buy, both in business and your personal life. While it can vary in length and involvement based on the price and nature of the transaction, the journey tends to follow the same pattern every time.
Are you using the buyer’s journey to your advantage?
Before we start with any client it is important that you know that we have a discovery session. During the discovery session, we address important questions that will help us understand your goals and how we may be able to help you to strategically insert yourself into a buyer’s journey, building trust and improving conversions.
Ready to take the next steps? .