The Consumer Decision Journey – source: McKinsey
The article suggests that in the traditional funnel metaphor, consumers start with a set of potential brands and methodically reduce that number to make a purchase.
But today, they say, the funnel concept fails to capture all the touch points and key buying factors resulting from the explosion of product choices and digital channels, coupled with an increasingly discerning, well-informed consumer.
Their research showed that the proliferation of media and products requires marketers to find new ways to get their brands included in the initial-consideration set.
McKinsey also found says that there is a shift away from one-way communication—from marketers to consumers—toward a two-way conversation. This means marketers need a more systematic way to satisfy customer demands and manage word-of-mouth.
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