What Is the Buyer's Journey?
The buyer's journey describes the steps a potential customer takes from first becoming aware of a product and through making a purchase. It maps out how customers behave at every step in the buying process.
A typical journey is usually segmented into three stages: awareness, consideration, and decision.
The Buyer's Journey vs. Sales Funnels
The buyer’s journey and sales funnels go hand-in-hand. They help businesses better understand how to convert potential customers.
But while both the buyer's journey and a sales funnel outline the steps a prospect takes before converting, there are some notable differences.
The buyer's journey focuses on a consumer's experience and needs at each stage. A sales funnel details the methods used by businesses to guide prospects from one stage to the next.
When Does Selling Start in the Buyer's Journey?
In terms of messaging, selling refers to selling prospects on our product. While it might be tempting to start selling right away, it's essential to wait until a prospect has moved from the awareness to the consideration phase.
This is because during the awareness phase, a customer is only seeking more information. It’s only once they reach the consideration phase that they start weighing up their options. This phase is the optimal time to highlight the unique benefits of a product or service.
Operationally, selling refers to giving prospects 1-on-1 attention from sales reps. This usually happens later in consideration and through the decision stage.
Buyer’s Journey Content Strategies
Content strategies should complement the different stages of the buyer’s journey for them to be effective.
- Awareness. During this stage, potential customers are looking for a solution to a problem. For this reason, content should be educational and focus on providing clarity. Blog posts, infographics, and webinars are effective forms of content for this stage.
- Consideration. With a better understanding of their problems, prospects will now start considering solutions. At this point, you should provide comparison content: expert guides, podcasts, or case studies are good examples.
- Decision. This is the final stage before a customer makes a purchase. It’s time to demonstrate why your product or service is the #1 choice. Demonstrations and testimonials are effective at this crucial stage. So are free and paid trials.
Buyer's Journey KPIs and Metrics
You can track the success of your buyer’s journey by focusing on some key metrics:
- Traffic by Stage. Understanding which phase of the journey attracts the most traffic can help you optimize your content strategies. If prospects are falling away at a specific point, you know which areas require more attention and refinement.
- Conversion Rate. A conversion rate measures the percentage of individuals that move from one stage to the next. Again, this is a clear indicator that a strategy is either working or hindering the buyer’s journey.
- Time Spent in Each Stage. A prolonged duration in one stage could indicate bottlenecks or information gaps that need to be addressed. Make sure your messaging is clear and that it’s easy for a customer to move on to the next phase.
- Content Engagement. Metrics like page views, time on page, and bounce rate can provide insights into the effectiveness of your content. A customer who is spending more time on a page is interested in what you have to offer. Even more so if they move through to the next stage quickly.
- Sales Metrics. Metrics such as lead-to-customer ratio and average deal size are indicators of how often prospects are converting. It can also tell you how valuable the average lead is.
