As part of the spotlight, McKinsey's David Edelman has written a thought-provoking article on how CMOs need to allocate their budgets based on stages on the customer decision journey, not types of media.
Jump to navigation Jump to search An example of a typical purchase funnel The purchase funnel, or purchasing funnel, is a consumer focused marketing model which illustrates the theoretical customer journey towards the purchase of a product or service. Elmo Lewis developed a model which mapped a theoretical customer journey from the moment a brand or product attracted consumer attention to the point of action or purchase.
This staged process is summarized below: Many different business-to-consumer purchase models exist in marketing today, but it is generally accepted that the modern business-to-business purchase funnel has more stages,  considers repurchase intent and takes into account new technologies and changes in consumer purchase behavior.
Conversion funnel Similar to a purchase funnel, "conversion funnel" is a technical term used in e-commerce operations to describe the track a consumer takes through an Internet advertising or search system, navigating an e-commerce website and finally converting to a sale.Increasingly, the user experience and customer journey spans a number of touchpoints, from websites to review sites and social media, with every single experience impacting a consumer’s decision.
But just as the journey becomes more fragmented, consumers continue to demand consistency. We now believe the consumer decision journey needs updating.
In the past few years, brands have been playing catch-up, investing in new technologies and capabilities in a bid to regain relevance with shoppers and exert greater influence over how they make purchasing decisions.
The Consumer Decision Journey: Financial Services 1. The question of how to manage one’s finances is deeply personal. The journey is often wrought with emotion and anxiety over whether consumers are making the right choices.
The consumer decision journey is not an itinerary, but neither is it aimless meandering.
Perhaps we do not wish to follow the well-worn trail laid out by some marketing department. The consumer is free to improvise, not by going where no one has gone before, but by creating personal variation using a common set of journey components shared with. Try a Customer-Journey Map [Template] Editor’s note: Because our readers continue to find this topic valuable, we’ve updated this post.
I recently attended a workshop in which we created a customer-journey map for content planning. Understanding customer experience and the customer journey over time is critical for firms. Customers now interact with firms through myriad touch points in multiple channels and media, and customer experiences are more social in nature.