July 2011 Archives
I was interested to see the post from marketing-made-simple , which summarizes some of the different models of purchase funnel optimization that have been created. A few of the key points made include:
1. The shape, number of stages and duration of the purchase will vary depending on the consumer and the nature of the product. What's important to identify the key stages in your funnel and work out how to maximise the chances of a progress to sale.
2. The purchase funnel focuses on the decision-making process of a typical buyer. This is different to the sales funnel which dictates the typical process a salesman can take to close a deal.
3. Whilst different models use different labelling, the stages will all be the same, moving from pre-awareness, to awareness, research, consideration, decision, action and then re-purchase.
4. The traditional purchase funnel may be too linear and a variety of complex factors are at work, with social media at the centre. In other words, you shouldn't think that purchase decisions are simple and that people are influenced by many different factors such as customer reviews.
5. The McKinsey model highlights the importance of understanding the trigger, appreciating that your brand is just one in the consideration (short list) and the importance of paying attention to all customer touch points.
Base One recently published the results of their Buyersphere report, asking 1k business buyers about the actions they took when making a purchase. It provides some useful insights to help b2b marketers evolve their practices to ensure their brands are promoted in the places that customers are looking today. A few of the highlights include:
1. Buyers are using an even greater variety of channels to form an opinion about a brand.
2. Digital channels are playing an increasingly important role
3. More and more buyers are attending webinars
4. Buyers are becoming more cautious about sharing their data
You can read the full article and download the Buyersphere report for free on the IDM blog.
If you need help to communicate your brand messages in an increasingly fragmented media world, then don't feel you have to do it all alone. Publishers and agencies can create content assets for you and then promote these across multiple channels, helping you focus on understanding your own customers and optimize your own funnel.
Reed business information offers creative media solutions to help reach and influence the following business buyers: farmers, hospitality operators, hairdressers, aviation workers, commercial property agents and opticians. Find out more.
Here's a useful list of things to avoid doing unless you want your green marketing efforts to be labelled 'green washing'. The full list is from the Marketing Leadership blog and includes:
'Sin of Fibbing. This sin involves misleading customers about the actual environmental performance of a company's products.
Sin of No Proof. Also known as the sin of "just trust us;" this involves manufacturers being unable to provide proof of their environmental claims.
Sin of Irrelevance. Factually correct, but irrelevant, environmental assessments. Examples include "CFC-free".
Sin of the Hidden Trade-Off. Focusing on one or two environmental facts, but ignoring other significantly more important environmental concern.
Sin of Vagueness. Broad, poorly defined environmental claims (e.g., "100 percent natural"). In the U.S., where "organic" is a label without much regulatory heft, that can sometimes qualify, too.
Sin of Lesser of Two Evils. A product can be the most environmentally preferable product in its class, but still be an inappropriate choice (e.g., "organic cigarettes")'