The Buyer’s Journey Simplified

The buyer’s journey refers to the stages a buyer goes through before making a purchase. Depending on your industry, product, and other factors this journey can vary in length of time. The buyer’s journey has many variations and if you search around you can find them broken out into more steps but in this module, we are going to use the simplest form plus one extra step. The buyer’s journey can effectively be split into 3 main steps plus 1 extra key step that can change the long-term profitability of your business for the better. The buyer’s journey can be referenced below:

The buyer’s journey in this instance has 4 steps:

Awareness: Refers to the stage where customers become aware of a problem they have. Problem awareness can happen from experiences in daily life or can be brought to the attention of a user based off messaging. Take for example a BBQ brush. Most people have used brushes with steel bristles to clean their grills for years with no issues. However, if a new brush without steel bristles comes along and says that their brush makes it impossible to accidentally swallow steel bristles that could cause you to go to the hospital, then they just created a problem you didn’t know you had. Now when you use your BBQ you will constantly think about swallowing a steel bristle, therefore moving you to the consideration stage.

Consideration: Arguably the most important stage in many cases, and definitely more significant when a user is likely to make one purchase, such as a BBQ brush. If we were a clothing brand the consideration stage would likely consist of different types of considerations. But going with the BBQ brush again, a user once they are aware of their problem will then begin to consider their options. In this case, they would look at competitors and compare things like materials used to make the brush, customer reviews, price, durability, etc. This is the stage where you need to differentiate yourself as the best option for someone to buy.

Action: Really, this is the purchase stage but depending on your position in a company an action can be anything you want a user to do. For example, instead of a purchase maybe you are looking for them to sign up for an event, or become a lead. Going back to the BBQ brush now we start to think okay, how can we get someone to make a purchase who is at this stage? There are several answers to this question and here are a few ideas of what can get people to purchase your product.

• Special offer: “Save 15% off if you order now” or “$10 off your first order”

• Free Shipping: “Get free shipping on your first order”

• Social proof: “Buy now and see why BBQ Weekly rated us the #1 BBQ brush in America”

Retention / Advocacy: This is the key to long-term profitability and we will talk about this more in the next section. This step begs the question how do we get someone to buy again? We have all heard the saying “It’s cheaper to keep a customer than to get a new one” and it really is the truth. Someone who has already purchased your product is likely to purchase again because they know they like it. For the BBQ brush example, once someone has purchased they likely won’t need another brush. However, you can offer other products like grill cleaning solution, or replacement pads. This will increase your CLV and help lead you to long-term profitability.

The buyer's journey serves as a roadmap for understanding and engaging with potential customers. Each stage represents a unique mindset and set of needs that, when addressed effectively, can significantly enhance the likelihood of converting prospects into loyal customers.

Why the Buyer's Journey is Important

Understanding the buyer's journey is critical for several reasons:

• Targeted Messaging: By recognizing the stage a potential customer is in, businesses can tailor their communications to address the specific concerns and needs at that point. This targeted approach is more likely to resonate and lead to engagement.

• Customer-Centric Strategy: Mapping out the buyer's journey encourages a customer-centric view, focusing on what the customer needs rather than what the business wants to sell. This alignment with customer needs helps in building trust and credibility.

• Efficient Resource Allocation: Knowing where to focus marketing and sales efforts can lead to more efficient use of resources. For example, if a significant portion of your target market is in the consideration stage, resources can be allocated to content and strategies that compare and contrast different solutions.

• Enhanced Customer Experience: By understanding the journey, businesses can create a seamless and supportive experience that guides prospects through each stage with the right information and support, reducing friction and enhancing satisfaction.

• Improved Conversion Rates: Tailoring strategies to each stage of the buyer's journey can directly impact conversion rates. By providing the right incentives and information at the right time, businesses can move prospects through the funnel more effectively.

• Long-term Customer Value: The inclusion of the Retention/Advocacy stage highlights the importance of post-purchase engagement. Satisfied customers are more likely to become repeat buyers and advocates for the brand, increasing their lifetime value and generating new leads through word-of-mouth.

The buyer's journey offers a blueprint for developing a marketing and sales strategy that is closely aligned with the customer's path to purchase. It enables businesses to anticipate needs, address concerns, and ultimately, build stronger relationships with their customers.

By integrating an understanding of the buyer's journey into your marketing strategy, you're not just selling a product; you're providing a solution to a problem at the moment your potential customers are most receptive to it. This strategic alignment between customer needs and business offerings is what sets successful companies apart in today's competitive marketplace.