Lead Management Tip: Brand Awareness Doesn’t = Buying

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Saw a link to a Harvard Business Review article this morning on Twitter (thanks @abneedles) that had something interesting to say about the “sales funnel.”

“A global consumer electronics company embarked on a CDJ [Consumer Decision Journey] analysis after research revealed that although consumers were highly familiar with the brand, they tended to drop it from their consideration set as they got closer to purchase.”

A fairly critical warning note to those of us in marketing, wouldn’t you say?

A brand with high awareness, but low conversion.

In other words, awareness /= buying, and getting farther down the funnel before a prospect drops out isn’t a net benefit. It’s no different whether they drop out at the top (before they even begin their initial information search) or if you’re the last to get “cut” from the final decision.

I’ve heard in several places now that research by SiriusDecisions shows that today’s typical customer is 70% through their buying cycle before they’re ready to meet with a sales person. Sure, it’s good to be at the top of the funnel and to be considered at all, but “awareness” is only the first step to being considered in the decision-maker’s criteria.

After that, it’s not just about awareness, but consistent response, lead management, marketing automation, quality sales skills to maintain awareness once contacted, and providing useful information and content–all with the goal of educating the prospect to find a solution that is right for them.

Author: Ken Krogue |
Summary of Ken Krogue’s Forbes articles

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