The Buyer’s Journey: How to Create a Customer-Centric Sales Funnel
The process through which a person becomes aware of a need, evaluates products or services in light of that need, and decides whether or not to buy one of those products or services is known as the buyer’s journey. The path of the buyer’s journey, from awareness of a problem through a possible purchase, is called the sales funnel. Companies that understand the buyer’s journey and how buyers move through it can use that insight to craft effective, customer-centric marketing strategies.
To learn more, check out the infographic created by Suffolk University Center for Continuing & Professional Education’s Marketing Strategy Certificate program.
The Buyer’s Journey
Not all buyer’s journeys result in a decision to buy; however, each stage of the journey is similar, regardless of the end result.
Stage 1: Awareness
At the awareness stage, the buyer first recognizes their need or want. The buyer begins to research possible solutions to their situation or problem.
Marketing at the awareness stage can include: content marketing, like social media posts and informational blogs; online ads; influencer campaigns; informative print ads and store displays; and sponsored in-person events.
Stage 2: Consideration
At the consideration stage of the buyer’s journey, the buyer has identified potential solutions and is evaluating the pros and cons of each.
To influence the buyer at this stage, a company needs to showcase its product’s value proposition and how it stands out from the competition. The buyer is seeking information at this point, so the company needs to be sure its content answers all the buyer’s questions.
Marketing at the consideration stage can include: informative videos, how-to articles, newsletters, livestreamed events, and checklists or decision trees.
Stage 3: Decision
At the decision stage, after considering the best alternatives for the money, the buyer chooses a specific product or service and then makes a decision to buy it or not to buy it. While the buyer has made a decision, they likely still have questions or concerns before they buy.
Marketing at the decision stage can include: a list of FAQs, customer reviews, blogs explaining value-added services, influencer or customer-generated social media posts, and unboxing or testing videos.
Importance of the Sales Funnel
A sales funnel is a symbolic tool, similar to a road map, that visualizes the stages of the buyer’s journey. It shows where a buyer is in their buying process.
What Makes a Sales Funnel an Important Tool?
A sales funnel helps shape a company’s marketing strategy. It helps the company engage buyers’ interest, encourage their involvement, persuade them to make a purchase, and convince them to become loyal followers of the brand.
Some terms to know related to the first stage of the buyer’s journey are ToFu, or top of funnel, and a “just looking” buyer attitude. Some second stage terms are MoFu, or middle of funnel, and a “tell me more” buyer attitude. Some third stage terms are BoFu, or bottom of funnel, and a “ready to buy” buyer attitude.
Chapter 3: Customer-Centric Marketing Strategy Tips
Here is an example of a buyer’s journey:
- Awareness. A buyer uses their headphones to listen to podcasts on neighborhood walks, but traffic noise makes it hard to hear the episodes. The buyer wants a better listening experience during outdoor walks.
- Consideration. The buyer researches headphones and starts evaluating the pros and cons of each type and brand.
- Decision. The buyer chooses one specific pair of headphones, and then uses these criteria to decide whether or not to buy them: whether the buyer has read negative reviews that give them pause and whether the headphones appear to meet their list of requirements.
Here are five tips for creating a customer-centric marketing strategy:
- Know the company’s customers. Surveys, research, and social media and web analytics can help marketers create buyer personas.
- Spotlight the customer experience. Tailor everything from the company, such as its website design, sales approach, and marketing materials, to add value to every interaction with buyers and potential buyers.
- Lean on data. Gather data at every stage of every marketing campaign and buyer interaction. Use it to understand how buyers interact with the company and why they move through the buyer’s journey.
- Tailor the company’s marketing efforts. Using the information gathered in steps 1 and 3, customize all email campaigns, site content, online ads, and social media messages to the buyer personas. Know where buyers are in the journey and what they need to move them to the next stage.
- Iterate and improve continuously. Continue to seek out feedback and improve the marketing strategy based on that information. Try new campaigns and test those results. Keep gathering data and tailoring the company’s marketing efforts. It’s an ongoing process.
Influence Buyer Decision Making
A customer-centric approach to marketing hinges on using data to develop an understanding of buyers’ purchasing decisions and why they choose a company’s products or services. This will inform marketing efforts that can convert browsers into buyers and buyers into advocates.
Sources
Asana, “Customer Journey Map: How to Visualize the Buyer Experience”
Bevelroom Consulting, “Building a Customer-Centric Sales Funnel”
Click Funnels, “Sales Funnel Terminology—A Full Glossary of Commonly Used Terms”
Constant Contact, “The ToFu MoFu BoFu Marketing Guide: A (Not-So-New) Strategy”
HubSpot, “How to Craft a Successful Customer-Centric Marketing Strategy”
HubSpot, “What Is the Buyer’s Journey”
LinkedIn, “Building a Customer-Centric Marketing Strategy”
LinkedIn, “Sales Funnel: Definition, Stages and Template”
TechTarget, “Definition: Sales Funnel”
Zendesk, “What Is the Buyer’s Journey? Definition, Stages, and Examples”
Zendesk, “What Is a Sales Funnel? Strategies on How to Create One (+ Examples and Templates)”