The Conventional Buying Cycle is Relevant No More- Meet MartJack’s Diamond Consumer Model

MartJack's Diamond Consumer Model

MartJack’s Diamond Consumer Model

The traditional buying cycle ( Awareness- Interest- Research- Purchase) is taking a new shape. Given that the consumer often compresses stages at other times sometimes skips them altogether, the journey is fairly amorphous by nature. Eg: You might buy something instantly because your friend bought it as soon as you are aware of it. The internet of things has reduced the interest and research phase of the buying cycle from months to just a few minutes.

The traditional buying cycle is no longer relevant in the Omni-channel world

The traditional buying cycle is no longer relevant in the Omni-channel world

 

In the connected world, a buying decision can be made much more easily and convincingly leading to a quicker decision. The aware – consider-  research phases of the traditional buying cycle happen simultaneously and not in linear progression. An ‘aware’ consumer might start ‘considering’ buying a product because of inherent need (influenced a lot by peers in social world and content) in a short span of time. The research phase might be very quick (if it takes place) or the consumer might jump on to buying the product directly (impulsive buying)!

MartJack's Diamond Consumer Model

MartJack’s Diamond Consumer Model

In the post-purchase phase, a customer is highly likely to recommend the product to one’s friend even before making multiple purchases. Omni-channel world provides easy and interesting options such social media sharing, which is a very powerful means to create word of mouth in the social world.

Based on the work that Mart Jack has done with its various Clients we believe that messages across Omni-channels will create a different customer engagement story. The below table indicates the role of various channels across the buying cycle:-

Omni-channel Engagement at Different Points of the Consumer Journey

Omni-channel Engagement at Different Points of the Consumer Journey

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