Archive | May, 2017

The newer consumer decision journey

27 May

The consumer decision journey traditional

According to McKinsey, the way consumers purchase and the journey they travel to get to that purchase has changed. The traditional model (above) suggests that the process is fairly uncomplicated from awareness of a need > to familiarity with a range of solutions > to the consideration stage > next to purchase and finally loyalty (we hope.)

The consumer decision journey

The newer consumer decision journey model describes a more circuitous approach which fits with the digital age where research and comparison shopping is far easier and online reviews can make or break a product/brand. It also looks at buyer perception of brands which in itself is no new thing.

This old coke ad is all about building brand perceptions which they do nicely with their image – modern for it’s time.

old coke ad

To quote the authors ‘Our research showed that the proliferation of media and products requires marketers to find new ways to get their brands included in the initial-consideration set that consumers develop as they begin their decision journey. We also found that because of the shift away from one-way communication—from marketers to consumers — toward a two-way conversation, marketers need a more systematic way to satisfy customer demands and manage word-of-mouth.’ (+ online reviews.)

The research, according to the article, identified two different types of customer loyalty, challenging companies to reinvigorate their loyalty programs and the way they manage the customer experience. It also reinforced the importance of aligning all elements of marketing—strategy, spending, channel management, and message—with the journey that consumers undertake when they make purchasing decisions but also of integrating those elements across the organisation.

No more silos!

Source: McKinsey Quarterly

Image

The Fourth Wave

20 May

Digital Age: The Fourth Wave of Technology

How to study

11 May

Recently my son had to study for up coming exams. I realised that he didn’t know where to start. So I put together this simple and practical infographic.

Great thingsto do with just