What is buyer journey
All the interactions a target customer has with your company/brand are termed to be part of that customer's buying journey. Whether these interaction are seeing a social media ad about your product or customer visiting your website to know more about your product or purchasing your product and becoming an advocate for your brand all these are part of customer/buyer's journey.
Even though a buyer journey is not always sequential or does not always follow an ideal path as you envisioned, it is very beneficial to layout what that ideal buyer journey should be as consecutive stages. One of the most common ways to represent a buyer journey is as below:
What is buyer journey analytics in Rev.Up
Rev.Up supports a visual, scalable and highly customizable buyer journey analytics. There are two main parts in Rev.Up buyer journey analytics:
- An admin section where only selected few admin users in your organization can build buyer journey map templates. Here one or more buyer journey maps customized to your definition of what are the signals contributing to each stage can be defined. Read more about how to build buyer journey maps here.
- A new segment dashboard page where each segment (i.e. list of accounts/contacts) shows where do accounts in that segment fall in their journey map. I.e. how many and what are accounts at which stage of their buying journey. Read more about using a buyer journey in a segment here.
Why is buyer journey analytics important
A recent study from Salesforce shows that today customers are engaging with a brand over at least 3 different channels. Customers also increasingly want highly personalized experience in their buying journey. Clearly a winning strategy for brands is to provide a highly coordinated, consistent and personalized experience across different channels and touch-points with their customers. To achieve this brands have to bring together their data, people and processes to device a highly coordinated strategy guided by data.
Some of the benefits of using a buyer journey analytics are:
- Provides a common view of campaigns executed, channels engaged and customer touch-points to all the go to market teams including Sales, Marketing, Customer Support etc.
- Helps to pinpoint bottlenecks in your processes - which of the sales/marketing channels are not working as expected, at which stage do accounts stall and not move forward etc.
- Helps to also identify what worked - which sales play or an ad campaign resulted in getting that decision maker onboard etc. so that you can do more of that
- Helps in marketing attribution - markets now have a view beyond MQLs and see how the accounts are doing once sales takes over. Marketing can now a clear view of expected revenue once the accounts reach a certain stage
- Helps sales to know all the history of customer's engagement, marketing touch-points so that they can be more informed and craft highly personalized messages as they engage further with the customers