The modern buyer is more informed than ever, and companies are struggling to keep up with different marketing and sales strategies. To acquire and convert the modern buyer, companies must have a thorough understanding of a buyer’s journey with their business. With this understanding, they can optimize different parts of the buyer’s journey to improve retention and conversions. In this post, we’ll cover what the buyer’s journey is and the different components you need to optimize to get more sales for your business.
What is the buyer's journey?
The buyer’s journey is simply the buyer’s path to purchase a product or service when they come across your business. The buyer’s journey covers all the experiences that a customer has when interacting with your business. This includes pain points, touch points, representatives from your company and more. The better a business can understand their buyer’s journey, the more improvements they can make to retain and convert the existing and future customers.
Stages of the buyer’s journey:
The buyer’s journey includes three main stages: awareness, consideration, and decision. These stages will impact whether a customer decides to continue in their buyer’s journey. It’s important to understand each one to retain your customers in their buyer’s journey.
The Awareness Stage of The Buyer Journey
Awareness: The awareness stage is when the customer is experiencing a pain point. They are aware of their problem, and they start to look for informational resources to help alleviate their issue.
An example of this is a company that has zero organic traffic to their business. They are starting to look for informational resources on how to get organic traffic, so they can get organic sales and improve their profitability.
The Consideration Stage of The Buyer Journey
Consideration: The consideration stage is when the customer has clearly identified and named their problem. They are aware of what their problem is, and they are starting to look for solution providers for their issue.
Continuing from the example above, the company is now aware that they need SEO services to start getting organic traffic to their site. They are looking at online resources to decide on how to pick a SEO company to solve their organic traffic issue.
The Decision Stage of The Buyer Journey
Decision: In the decision stage, the customer has formed a strategy and they have a clear method to picking a provider to solve their pain points. Customers in the decision stage often have a list of different vendors and are beginning to shorten their options and make a purchase decision.
Continuing from the example above, the company has now made a list of different SEO providers and is starting to narrow down their options based on their specific needs and goals for organic traffic. They are ready to make a purchase decision and they are getting quotes from different SEO companies.
These 3 stages are what constitute the buyer’s journey. It’s important to be familiar with each stage and understand what your customers are experiencing in each stage. The more value you can provide in each stage, the more likely it is that a customer will make a purchasing decision involving your business.
To learn more about the buyer’s journey and how your business can utilize it, get a free consultation here.