Buyer's Journey - Why It's Important
Understanding why the Buyer’s Journey is so important in your strategic marketing mix will deliver two key results for your business.
- Gets you to revenue quicker
- Stops wasting marketing money
Why is this so important? There are three reasons.
When we start working with our clients we ask them to look at how their last 10 customers came to their business. We look at through what source, so which channel – and we then ask them to explain to us what their business did to them, from touchpoint 1 to when the dollars came in. That’s how we define Buyer’s Journey.
For clarity, we define a touchpoint as a phone call, an email, attending a presentation, attending a webinar, etc. – anything meaning your business touches your prospect’s business.
If you get Buyer’s Journey right in your business, it means you will have achieved the following:
Better Alignment Between Marketing and Sales
The most FAQs we get are about marketing and sales – how do they work together, how should they work together? It’s pretty simple really – if you look at the touchpoints that your business has with your prospects they will be a combination of marketing and sales. It could be that your marketing activity opens and nurtures the conversation and sales closes and converts. Each business is different, but these two functions need to work together for your business to achieve revenue success.
If you get the above right it means you save money and time. If your business understands what constitutes its buyer’s journey, it still needs to be monitored and reviewed; however, in the main you can accept this is a repeatable process that gives you engagement and delivers revenue.
You can use Buyer’s Journey to manage your pipeline. If you know where your customers are on the buyer’s journey and you know how they respond and/or react to your touchpoints, then you can move them to the next touchpoint and ultimately to the sale with control and to your time frame.
Done well, it also allows you to see how many opportunities you have at each touchpoint, which means it’s clear where your business development needs work.
After coming out of a long corporate career I saw that marketing as a sector is woefully underservicing our audiences. My posts and content are all about giving businesses some hints and tips as to how corporate businesses use marketing strategies for growth. I am the translator – running a small business myself, I offer these tips to you in a simple language that you can apply to your business.
I developed the structured formula 9 Boxes from a passion to help small and mid-tier businesses get access to corporate marketing thinking. I want to raise the marketing bar, changing the way businesses engage with marketing.