Customer Journey Marketing: Increase Revenue

Length: 00:00

Customer Journey Marketing: The Largest Opportunity to Increase Revenue Today’s customers have endless opportunities at their fingertips when it comes to finding products and services that meet their needs. Not only is there lots of competition, but also there are so many streams of advertising and channels of social media, that the difference in a customer choosing one product over another may be as simple as seeing one ad on Facebook and not seeing another. Or seeing the advertisement on Instagram instead of on a website. These streams of advertising, customer exposure, and market targeting are all components of the customer journey. Understanding the journey The customer journey is the path that your customer follows to get from the point where they are thinking about a product or service that they need, to then choosing and purchasing your product or service as a result. This involves several stages, including everything from first company interaction, to buying the product, to customer service or complaints down the line. Many current models depict the customer journey as an hourglass, whereby the purchase – at the narrowest part – is only a small component of what makes up a strong customer base, and therefore only a segment of what can help generate company revenue. Understanding the customer journey is an incredibly important part of advertising and marketing, and represents a tremendous opportunity for increasing revenue. Generating revenue The critical part of this understanding comes from recognizing that how well a company can perform along a customer’s journey is more closely linked to economic incomes than performance at any single touchpoints alone. In other words, if your business is consistent across all segments of the customer experience, providing an overall superb business-to-customer interaction, this is more valuable to the customer, than say merely delivering a fantastic product at the end but having less than remarkable service along the way. Moreover, delivering a perfect customer journey creates value for the customer in and of itself: the customer soon becomes happy to pay merely to have the hassle-free, enjoyable journey, as much as they are willing to pay for what they get at the end. With this in mind, as a business, you can’t solely focus on whether your product or service is good enough: you have to focus on every aspect of getting your customer there, including marketing and advertising, customer service, troubleshooting and retention and expansion after the sale has been completed. Don’t let yourself narrow in on the smallest part of the hourglass: the top and bottom are far more significant, and therefore need even more of your attention. Understanding your customers and their journey is not easy. As you may have experienced, there are a lot of paths your potential customer can take that lead their journey away from you instead of toward you. Instead of watching this happen, contact the friendly team at Diffactory and learn how we can help you strategize a plan that will have potential customers on the journey to you, not to your competitor.

Category:  Business Ops

koldhamdiffactory-com


Member since: February 02, 2017

Kevin Oldham is the CEO at Diffactory, a B2B business in the Advertising industry with 1-10 employees.

A bit more about me, I'm a dad, husband and son whose focus is on my family and my faith. My business is not who I am, but it helps me provide for the important things in my life. I've been fortunate enough to enjoy success in business and am on a new journey (18 months in) building a new company from the ground up. I'm highly curious, loving, and grateful. My two rules in life: 1) Abundance in all things 2) It's either a "hell yes," or it is a "no." I'm not rich, but I'm wealthy as I have an awesome family, good health and I value time over anything..

A brief description about my business, Diffactory is a digital marketing and growth consultancy for recurring revenue-driven companies who want more customers. Unlike other marketing companies, we focus exclusively on businesses with licensing, subscription or membership models. This gives us a benchmark to determine how much we can help you grow and a concise way for us measure and report your return on marketing investment. We also build our own products that make the world a better place. Arsenal of tools: Technology, strategy, math and marketing..

I'm an expert in:

Customer Service, Marketing, Building Branding, Hiring, Building Culture, Creating Differentiation, Business Strategy, Digital Marketing

I can also help you with:

Human Resources, Sales, IT

I prefer:

Strategy over Operations

Ideas over Plans

Data over Intuition

Flexibility over Control

Accuracy over Speed