By David Edelman, Patricia Ellen, and Christoph Erbenich
Today’s consumers are different. They have access to much more information than ever before, including from other consumers, who are not shy about expressing their opinions. As a result, the rules of engagement have changed, but most companies have not figured out to deal with that reality. In fact, they continue to invest too much in areas that were decisive in the past but are less so today, and traditional, one-way media such as TV, radio, and print.
In 2009, McKinsey devised a model, the consumer decision journey which takes into account the ways in which the Internet, particularly social media, affects the purchasing process, from the initial consideration to the creation of brand partisans. Drilling down into the insights revealed through our work with the CDJ, and working with clients in industries ranging from cars to personal care, we have identified four steps organizations can take to engage consumers at every stage in the CDJ.
Four steps: Align, link, lock, and loop
The CDJ is not an easy journey: Completing it may require companies to restructure their marketing functions, rebalance their marketing budgets, and develop new capabilities. In just about every case, though, these four steps are crucial.