What is a Buyer’s Journey- and Why is it Important?

Where trends and platforms shift rapidly, one fundamental principle remains constant: knowing and understanding the buyer's journey is a crucial component of successful social media marketing.

It’s no secret that social media metrics are not exactly the most digestible of fruits…what on Earth does “reach” mean anyways?

If you’ve been following along with our blog and podcast recently, you should notice that we’re painting a picture here. Starting with creating your brand and content pillars, when to hire a team (either internal or external), how to set goals (REAL, actionable goals)...and now finally landing us here at one of the many treasures at the end of the rainbow.

Drumroll please….ROI- Return on investment!

ROI can be measured financially, in terms of revenue and profit, but with social media marketing specifically it can take a few different shapes.

Today we are going to break down the measurable, non-financial metrics of social ROI and how they relate to the buyer’s journey so that you, as a business owner, can understand a few more pieces of the puzzle to help understand your return on investment. 

In general, being privy to your buyer’s journey aids you not only in setting goals but also achieving them by easing 6 fundamental processes:

• Meeting customer expectations  

• Effective marketing and messaging

• Optimizing customer experience

• Building trust and credibility

• Increasing sales and revenue

• Data-driven decision-making

Within social media specifically, the core processes look a tad bit different, but all meet the same end goal:

• Targeted content creation

• Audience targeting

• Engaging with prospects

• Retargeting and remarketing

• Gathering insights and feedback

What does any of this mean? We’re SO glad you asked!

Truly, it all goes back to listening to your audience, understanding their thought processes and habits, and using that information to make informed decisions about your business. Think about it like a relationship, the longer you spend time with someone, the more likely you are to know their likes and dislikes as well as their routines and habits. Chances are that the more you know about someone you are dating, the more harmonious your relationship becomes. 

Would you take a vegan to a barbecue on the first date? Maybe…by accident…But would you take that very same vegan back to the very same barbecue 7 months later? Probably not…at least not if you’re listening!

The buyer’s journey typically consists of three main stages: awareness, consideration, and decision. 

Here's a breakdown of each stage:

Awareness Stage:

   - Problem/Need Recognition: The buyer realizes they have a problem or a need that requires a solution. They may become aware of a challenge, a desire for improvement, or a new opportunity.

   - Information Gathering: The buyer begins researching and gathering information to better understand their problem or need. They seek educational content, articles, blog posts, videos, and social media discussions to gain insights into potential solutions.

   - Identifying Options: In this stage, the buyer identifies various options available in the market that could address their problem or need. They may explore different brands, products, or services and compare their features, benefits, and pricing.

Consideration Stage:

   - Evaluation of Alternatives: The buyer narrows down their options and evaluates the alternatives in greater detail. They delve deeper into researching specific products or services, reading reviews, comparing prices, and seeking recommendations.

   - Comparing Solutions: The buyer carefully compares the features, benefits, pricing, quality, and reputation of the available solutions. They weigh the pros and cons of each option and consider how well it aligns with their specific requirements and preferences.

   - Seeking Validation: At this stage, the buyer may look for social proof and validation from others who have used the product or service. They may read customer testimonials, seek recommendations from friends or online communities, or look for case studies or success stories.

Decision Stage:

   - Purchase Decision: The buyer has reached the final stage where they are ready to make a purchase decision. They have identified the preferred solution and are prepared to take action. Factors such as pricing, payment options, delivery terms, and warranties may influence their final decision.

   - Post-Purchase Evaluation: After the purchase, the buyer assesses their decision and the overall experience. They evaluate whether the chosen solution met their expectations and if they are satisfied with the product or service. Positive experiences can lead to customer loyalty and advocacy.

***It's important to note that the buyer's journey is not strictly linear, and individuals may move back and forth between stages or skip certain steps depending on their unique circumstances and the complexity of their purchase/investment***

Much like dating…right? No, just me? Anyways. Social Media metrics and analytics fit seamlessly into this journey like so:

Awareness Stage:

   - Reach and Impressions: These metrics indicate the number of people who have been exposed to your social media content. Higher reach and impressions suggest that your content is gaining visibility and attracting attention, contributing to increasing awareness of your brand or product.

   - Follower Growth: Tracking the growth of your social media followers can indicate an expanding audience and increased awareness of your brand.

Consideration Stage:

   - Engagement Metrics: Metrics such as likes, comments, shares, and retweets demonstrate audience engagement with your social media content. Higher engagement indicates that your content is resonating with your target audience, encouraging discussions and interactions. It signifies that your brand is being considered and that your content is compelling enough to prompt engagement.

   - Click-through Rate (CTR): CTR measures the percentage of people who clicked on a link in your social media post, taking them to your website or landing page. Higher CTR suggests that your content is driving interest and prompting users to explore further, indicating consideration of your offerings.

Decision Stage:

   - Conversion Metrics: These metrics track specific actions taken by users that indicate a conversion, such as completing a purchase, signing up for a newsletter, or downloading a resource. Conversion metrics, like conversion rate and cost per conversion, provide insights into the effectiveness of your social media marketing efforts in driving users to take the desired actions and making purchase decisions.

   - Return on Investment (ROI): ROI measures the return you gain from your social media marketing investment. It helps assess the financial impact of your efforts, including the revenue generated from social media-driven conversions. Positive ROI indicates that your social media efforts are contributing to driving decisions and generating revenue.

Now let’s put it all together. 

ROI is directly contingent on the financial return of several non-financial metrics. These metrics and measurements work hand in hand to foster growth, scalability, efficacy and success. In order to properly measure your success, taking a deeper dive into the journey of your clients, patients and sales..oh my!...allows you to move the ticker (so to speak) across the sales process in real time. 

This pathway can be segmented down into three distinctive markers: awareness, consideration and decision. Each step of the way, your social media is working behind the scenes not only to advance progression, but to track forward momentum. 

In the awareness phase, reach, impressions and follower growth are directly indicative of a problem/need recognition. You’re hungry, you’re browsing restaurants on Uber Eats and saving the ones who stand out to you. 

In the consideration phase, engagement metrics and clicks are painting the picture evaluating alternatives and seeking validation or proof through your accounts. You’re torn between two sushi spots, better check the reviews to be sure the fish is fresh.

In the decision phase, conversion metrics like completing a purchase, signing up for a consultation or booking an appointment are representative of the purchase decision portion of this stage. You picked your spot and Meghan is on her way to you with your food. Please give her five stars.

XO, TJ Team