News & Opinions
The latest news and insights from Hanley Wood’s outspoken experts and key thought-leaders throughout the residential and commercial design and construction industry.
New Research Defines Buyer’s Journey to 3 Steps
Mathew Sweezey / ClickZ / July 30, 2013
I’ve heard the term “buyer’s journey” more than ever over the past year and a half. Marketers have been talking about understanding the buyer’s journey for some time now, but I haven’t seen any hard data to define what exactly this term means. I decided to research the buyer’s journey concept to better understand how to leverage it in modern marketing. To understand the buyer’s journey concept, I surveyed 400 B2B buyers and compiled their answers to create the first definitive guide to the modern buyer’s journey.
Why I Surveyed Buyers Instead of CMOs
I’m tired of reading surveys from chief marketing officers (CMOs) when the average CMO only drives a 5 percent click-though rate on emails. That means most CMOs fail 95 percent of the time when trying to drive engagement in the buyer’s journey. So to understand the buyer’s journey, I knew I had to survey the real buyers – not CMOs – if I wanted to get to the bottom of things.
What I Found
When asking buyers, I wanted to really understand their habits and their process much better. From understanding habits and processes, we can then map our marketing to those two behaviors and increase our engagement. So my questioning started with understanding how they research. Understanding research is the key to understanding the buyer’s cycle, because every buyer’s cycle starts with research.
- The buyer’s journey starts online. The buyer’s journey begins with research, and 76 percent of my respondents said that they start with Google. In contrast, 15 percent of people said that they ask their peer groups first, but they still engage with search at some point in their buyer’s journey. A stunning 99 percent of respondents agreed that their search terms change as their research deepens.