Marketing’s primary goal is to reach consumers at the various moments of truth that influence their purchasing behavior. The problem with the classic purchase funnel is – it is linear and rather pre-determined, assuming prospects would move across the funnel from Awareness to Purchase or intended action.
We know today that this is not true. With the advent of digital media, a prospect can today be exposed to multiple touch points and the one way communication flow between marketers to consumers is now replaced by a 3 way communication happening between brands and consumers and vice versa and between consumers themselves. To make sense of this massive change McKinsey in 2010 conducted a study examining the purchase decisions of almost 20,000 consumers across five industries and three continents, and came up with what they call the ‘consumer decision journey… Read more