Why Businesses Need to Consider the Consumer Decision Journey
Marketing is an essential component of any successful business. It involves analyzing the market, identifying customer needs, and developing strategies to satisfy those needs. The process of making decisions in marketing involves several factors that need to be considered, one of which is known as the Consumer Decision Journey (CDJ).
The Consumer Decision Journey, also known as the McKinsey Model, documents the decision-making process a consumer goes through before deciding to make a purchase. It looks like the illustration below.
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Business owners need to consider the CDJ so they can best appeal to the thought process of their potential clients. In this way, they distinguish themselves from the competition and ultimately turn a profit. Marketing companies like Thump Local help businesses reach buyers at the moments that most influence their purchasing decision.
The Consumer Decision Journey Process
As a marketer, Thump Local carefully considers each step in the CDJ – consideration, evaluation, purchase, post-purchase, and loyalty, and develops campaigns customized to a business. To optimize the benefits of a marketing strategy, it’s essential to consider factors that may influence a consumer, including:
- Consumers make decisions based on their personal preferences. These preferences are shaped by a variety of factors, such as their upbringing, cultural background, and values. For example, someone who was raised in a household that valued eco-friendliness may be more likely to purchase products that are marketed as environmentally friendly. Additionally, consumers may have individual preferences, such as for a particular brand or product that they have used in the past. These personal preferences can greatly influence consumer decision-making, and businesses can use this information to tailor their marketing messages to specific audiences.
- Consumers are more likely to purchase a product or brand that they have had positive experiences with in the past. For example, if a consumer has had a great experience with a particular restaurant, they may be more likely to choose that restaurant again in the future. On the other hand, if a consumer has had a negative experience, they may be less likely to choose that product or brand again. Understanding the role that previous experiences play in CDJ is important so businesses can focus on creating positive experiences for their customers.
- Marketing messages also play an important role in decision-making. Potential customers are inundated with marketing messages from a variety of sources, such as television commercials, social media ads, and email and text marketing campaigns. Competition for consumer attention is intense. These messages can influence consumers by creating awareness of a product or brand, highlighting its unique features, and positioning it as the best choice in the market. Effective marketing messages can persuade consumers to choose a particular product or brand over others, even if they have not had previous experiences with it.
- External factors can influence consumer decision-making. These factors include economic conditions, social trends, and cultural shifts. For example, during times of economic uncertainty, consumers may be more likely to choose lower-priced products or brands, while during times of economic prosperity, they may be more willing to splurge on luxury items. Social trends and cultural shifts can also influence consumers, and they may be more likely to purchase products or brands that align with their values or social causes.
At Your Service
Consumers make decisions based on a variety of factors, including personal preferences, previous experiences, marketing messages, and external factors. Understanding how these factors influence consumer decision-making is essential for businesses to remain successful. Thump Local is experienced in developing effective marketing strategies and products that meet our customers’ needs, and we work closely with clients to ensure their marketing plan is as customized as possible so they can best reach their own clients.
*Court, D., Elzinga, D., Mulder, S., & Vetvik, O. J. (2009, June 1). The Consumer Decision Journey. McKinsey & Company. Retrieved April 4, 2023, from https://www.mckinsey.com/capabilities/growth-marketing-and-sales/our-insights/the-consumer-decision-journey