Tuesday, 30 July 2013

Death of the Sales Funnel

An article worth reading is... Death of the Sales Funnel as we know it 

In summary,

  • Buyers don’t follow a linear path
  • Distraction is the number 1 barrier to sale
  • Tracking is flawed at best
  • Reporting is abysmal
  • Should the sales funnel be transformed to a neural network?
so maybe we need to think more about...
The Customer Decision Journey  (see www.mckinsey.com) 

It’s a pretty simple concept really but clients like it because this visual highlights and isolates the most important aspects/steps of the journey:
  • ConsiderWhat brands/products do consumers have in mind as they contemplate a purchase?
  • EvaluateConsumers gather information to narrow their choices.
  • BuyConsumers decide on a brand and buy it.
  • Post-purchaseConsumers reflect on the buying experience, creating expectations/considerations that will inform a subsequent purchase
  • Advocate: Consumers tell others about the product or service they bought.

See also The Consumer Decision Journey and Aligning with the Consumer Decision Journey

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