Do you really know your customers?
13/11/2019 - Customer Journey2 Minute Read
Every customer begins their customer journey with a desire that is currently unfulfilled. A new set of furniture to replace the tired and old. A new TV to spend your days watching Netflix. Your products or service could fulfil that desire – you just have to be able to locate your customers.
The 5 stages of the customer journey –
Customers typically go through similar stages of the customer journey and upon each stage, the customer’s awareness of the product is strengthened and amplified.
As customers navigate through the journey, there are direct and indirect touchpoints. Direct touchpoints encompass those seen on websites and in magazines or newspapers and typically involve price comparisons, recommendations and any offers at the time. Whilst indirect touchpoints are advertisements done by you and include social media ads, posters and advertising banners.
- Awareness –A requirement is established, and a product or service could be the solution; interest is beginning to manifest.
- Favourability –A customer will begin gathering information about a product they deem appropriate and its potential alternatives.
- Consideration –A customer will consider purchasing a product, though they will usually weigh up the positives and negatives.
- Purchase Intention –The intent to purchase is at its strongest, though they potentially need encouragement via an offer or free delivery incentive.
- Conversion –The decision is made, and the purchase is complete.
The importance of the customer journey
Academic studies have suggested that companies who have an in-depth understanding of their customer journey generate an average of 10% more turnover, additionally, their customer satisfaction is 20% higher. As you map out your customer journey, you can ensure your marketing and advertising strategies are more targeted. The more you target direct and indirect touchpoints, the more you will increase conversation rates, as a result.
Identifying the customer journey
How we use the internet has completely transformed the customer journey. Modern data analysis has made it easier to map website clicks, how long the user spends on your website, the user’s device and their current locations – all of which can be tracked using cookies.
Online users now interact with companies through social media ads, newsletters and banner clicks; with each interaction leading to valuable data regarding the target group. For example, analysis of the customer journey can indicate product desires and expected prices near you.
Summary
Some customers already know the product they require and may have previous experience with that product. However, if you identify touchpoints such as website and discussion platforms, you have the potential to influence the customer journey and purchase decision.
Lenny Davies
Director
BamBoo Smart Growth
By BamBoo Smart Growth - 13/11/2019 - Customer Journey
