From a funnel to a circle???

For a long time marketers have relied on the age-old model of a purchase funnel as the cycle that consumers move through in making purchase decisions. From Awareness, Consideration, Preference to Loyalty. This model made sense when consumers played a more passive role (presumably) where they received messages pushed to them by marketers. For those of us in marketing roles we know that has changed - where consumers are not only actively seeking information but in many cases serving a role to create it and act as influencers. The question now is how to marketers adapt to this change?

In a study published by McKinsley Quarterly in June of this year titled "The consumer decision journey" a new model is proposed suggesting that instead of a funnel where consumers have more brands at the top and slowly narrow their selection - that they now start with a few, then move to active information gathering where they greatly expand the number of brands and then ultimately make their decision at the point of purchase. Essentially moving from a funnel to a circular approach.



What's driven this paradigm shift? The leading cause is technology (dare we say web 2.0 - I swore I wouldn't use that term ever again!). With consumers ability to connect, share and be more vocal to other consumers and brands technology has greatly impacted the way they make purchase decisions. As a result, marketers are trying to figure out how to engage in this new world. Be sure to read more for yourself at www.mckinseyquarterly.com.