The Buyer's Journey
It's important to understand the different stages a buyer encounters during its purchasing-decision journey because the buyer will have different information needs at each step.
In the Awareness stage, a buyer recognizes it has a problem or opportunity. During this time, its research is focused on editorial content that is vendor-neutral and explanatory. The buyer seeks educational, third-party or vendor-neutral content.
In the Consideration stage, the buyer gives a name to the problem or solution and identifies the group of products that can provide help or opportunity. During this time, the buyer's information consumption is directed toward understanding all available solutions. This could include vendor, editorial or user-generated content. There's a commitment to solving the problem and a focus on solutions and comparisons.
In the Decision stage, the buyer defines its solution, strategy, method or approach. During this time, the buyer is focused on finding supporting documentation, data, or benchmarks to make or support its final decision.
The key take away here is that you have to be able to reach a buyer when it can be the most influenced. In other words, you have to be able to identify and engage the buyer at the Awareness stage. Otherwise, the buyer has already made its short list and in the Consideration and Decision stages, it is often too late to make an impression. The buyer has already drawn up its short list or made a final selection.
What's needed is a solution that allows marketers to recognize buyers early in the Awareness stage. Given 1105 Media's unique position as a producer of independent content, we recognized we could identify people early in the buyer journey by looking at what they were reading.
In my next post I will review how we tackled this problem.
Posted by Eric Choi on 09/19/2017 at 9:47 AM