The Consumer Decision Journey from Harvard Business ReviewPosted: November 16, 2010
A fascinating article today in the Harvard Business Review about the changing expectations and behaviors of consumers. They way they make decisions, and the number of touch points that brands have with them is changing. The journey according to the author David Edelman, is more iterative and less reductive process that has four basic stages: a) Consider, b) Evaluate, c) Buy, – d) Enjoy, Advocate, Bond.
These insights are based on a study of 20,000 consumers. One of the fascinating factoids was that 60% of facial care customers would research a product online AFTER they had purchased it to learn more about what others thought of it, how they used it and that post purchase research would then have an impact on their loyalty and advocacy of the brand.
Another great quote was "Up to 90% of spend goes to advertising and retail promotions. Yet the single most powerful impetus to buy is often someone else's advocacy."