The New Consumer Journey

McKinsey Consumer Decision Journey 6.25.09

I was recently catching up on some reading and came across this excellent report from McKinsey on the new consumer journey. Most marketers are familiar with the purchase funnel model, which prepossess a funnel process whereby a consumer, when starting on their journey to purchase any product or service, starts with a large initial group of items and narrows their options as they go through various stages and exposure to marketing messages from vague awareness to  consideration to purchase intent and purchase and then loyalty. Well, McKinsey, after talking to and observing behavior of over 20,000 consumers across five different product categories on three continents found that this funnel doesn’t really apply to how consumers actually make decisions now. It was a great model during the heyday of mass media. But, as we’re all discovering, without mass media, mass marketing becomes passe. Instead of the purchase funnel, it looks like consumers go through something that looks more like a purchase circle.

The most astonishing thing the research uncovered, in my opinion, is that during the active consideration phase, when consumers actually add to the number of products in their considered set,  2/3rds of the marketing consumers use to help make their decision is generated by…other consumers! This has profound implications for marketers, agencies and media companies. But, I think it also has profound implications for mobile. Let me help make the connection…

As I posted last week, consumers a engaging in a whole host of activities on their smart phones, while they’re shopping. Increasingly, social media is being accessed. They’re sharing their intended purchases, asking for opinions of others, checking ratings and reviews. This is already changing the way we shop and how and what we buy.

The bottom line is: marketers who don’t have a strategy for dealing with this are late already.

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About Scott Cone
A husband to a loving, lovely wife. Father to six great kids and two grand kids. I'm a marketing, advertising and promotion professional with a keen interest in big ideas, all things digital and especially how mobile is changing all aspects of communication and marketing. I play guitar and sing, write music, write screenplays, act, scuba dive, weight lift, ski and enjoy Christian apologetics, logic, evolution versus intelligent design and the basis for morals, values and ethics.

One Response to The New Consumer Journey

  1. Pingback: https://marketingavatar.wordpress.com/2010/02/09/the-new-consumer-journey/ « Freeman+Leonard's Blog

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