The consumer decision journey no longer follows the linear model in the digital era. Enterprises are in the process of creating awe moments for consumers through multiple touch points. Customer retention is one of the arduous challenges facing enterprises in the digital age when small firms are disrupting the consumer buying decision journey. These slides explores the possible interventions in the consumer decision journey, explains the shift the consumer-enterprise interaction behavior, highlights the new model of consumer decision journey and provides recommendations to enterprises on how to capture the top of mind share of the connected consumers. Awaiting your opinion and comments. Thanks.

1. CONSUMER DECISION JOURNEY IN THE DIGITAL AGE
Alok Ranjan

2. BRANDS& CONSUMERSCHEMISTRY
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Consumers today are accessing brands through multiple touch points . On the other hand, brands are struggling to create personalized shopping experience for every customer.

3. DIGITALPURCHASINGDRIVERS
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46.03%
19.19%
86.75%
86.03%
53.37%
59.27%
86.78%
37.59%
89.90%
85.75%
93.50%
62.50%
110%
108%
137.20%
165.20%
138.70%
76.20%
131%
108%
0.00%
50.00%
100.00%
150.00%
200.00%
China
India
United States
Japan
Brazil
Russia
Germany
Nigeria
United Kingdom
France
Mobile Penetration
Internet Penetration
18.30%
21.30%
2.20%
1.80%
5.30%
51.10%
26.50%
17.80%
2.50%
2.30%
4.50%
46.40%
23.00%
14.50%
8.50%
4.40%
3.60%
46.00%
26.20%
11.60%
57.50%
44.00%
11.50%
18.10%
0.00%
20.00%
40.00%
60.00%
80.00%
China
USA
India
Brazil
United Kingdom
Rest of World
Growth 2011-16
2016 market share
2012 market share
2011 market share
Source: Internet Live Stats 2014, Mobithinking
Source: IDC , 2012
Top 5 Markets for Smart phone Sales
+15 percent of students older than 13 with access to tablets have shopped on theirdevices while in school
+71 percent of social media users are more likely to purchase from brands they follow online
+59 percent of households with annual incomes of $200,000 or more have purchased products on their mobile devices while in-store
+Online comparison shopping sites attract72 million monthly visitors
+36.5% of global online sales comes from APAC in 2014 and this is expected to rise to 39.6% by 2016
+Mobile commerce transactions will reach $3.2 trillion in 2017,up from $1.5 trillion in 2013
Source: Internet Sources, CMO

4. TRENDSINDIGITALCONSUMPTION
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69%
67%
63%
38%
30%
28%
20%
20%
20%
18%
6%
Consumer Electronics
Books
Clothing & Apparel
Household Goods
Office Supplies
Consumer PackagedGoods
Type of Products Consumers Purchase Online
Source: Walker Sands 2014 Future of Retail Study
80%
66%
64%
48%
42%
42%
41%
39%
37%
Free Shipping
1 day Shipping
Free Returns & Exchanges
Easier OnlineReturns
Confidence inPayment Security
Multiple VersionsShipped at Once
Same Day Shipping
Easier InstoreReturns
Visual try onCapability
Why Purchase Online? Reasons
Source: Walker Sands 2014 Future of Retail Study
Research & purchase on smartphone
41%
Research on smartphone, but purchase in-store
46%
Research on smartphone, but purchase on computer
37%
Research on smartphone, visited store to check the product but purchase on computer
19%
Research on smartphone, visited store to check the product but purchase on smartphone
18%
Visited the store first, then purchased on smartphone
8%
Multi device Shopping Trends
Source: Google ZMOT, 2012

5. OURPREFERENCESARECHANGING
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Technology has reduced in-store challenges faced by consumers.

6. BRANDSANDCONSUMERSAREATLOGGERHEADS
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73%
71%
69%
68%
67%
64%
63%
63%
61%
60%
60%
51%
53%
49%
52%
53%
33%
37%
22%
34%
55%
61%
Learn about new products
General Information
Submit Opinions
Exclusive information
Reviews and product rankings
Feel Connected
Customer Service
Be a part of a community
Event/promotion participation
Purchase
Discount
Brands
Consumers
What Consumers Wants on Digital Media vs. What Brands Offer?
Source: IBM Institute of Business Value, 2013

7. CONSUMERDECISIONJOURNEY–OLDMODEL
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Awareness
Familiarity
Consideration
Purchase
Loyalty
+The traditional consumer decision journey funnel is losing its relevance.
+Consumers no longer follow the linear path to achieve their moment of purchase.
+Technology is influencing each stage of the consumer decision journey like never before
+The rise of social, mobility and analytics has created new avenues / multiple touch points for brands to connect with consumers
+Consumer decision journey is transformed into a cyclical loop where brands continuously create awe moments to retain their consumers

8. CONSUMERDECISIONJOURNEY–NEWMODEL
8
+The number of brands making through the initial consideration set has become limited due to increase in consumer touch points
+Brands are influencing consumers along the consumer decision journey
+Brands advancing into the next stage equally face the challenge from competitors who were not part of the initial set
+The moment of purchase is creating challenge of providing an outstanding after purchase experience to retain the customer
+Consumers are ready to switch brands and open to competitor messaging
Moment of Purchase
Initial Consideration
Evaluation/Information Search
Brand Loyalty
After Purchase Experience
Trigger
Source: Adapted from the MckinseyResearch

9. BRANDOUTREACHISGETTINGINTERACTIVE
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Source: Intel Interactive signage, Google images
Source: Burberry Digital Store London, Google images
Source: Nike DIY OnlineStore, Google images

10. BRANDTOUCHPOINTSINTHEDIGITALAGE
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Digital Platforms
Campaign Types
Customer quick Interactions
Customer long term Interactions
Personal/Targeted
Mass Market
Twitter
Website
Customer Service
Product
Store
Community
Mobile applications
TV ad. spot
Print adverts
Adwords
Campaign sites
Customer reviews
Facebook/Google+
Printed flyers/Collaterals
Email
Brand-Consumer Interaction Matrix

11. STRENGTHENINGBRANDOUTREACH-RECOMMENDATIONS
Consumer-Brand Interaction Touch-points
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+Create multiple consumer –brand interaction touch points in order to have maximum impact on the consumer decision journey
+Each interaction with consumers should not only inform them about the product/services but also enhance the competitive edge of the brand
+Enable consumers to be part of their consideration set in the purchase decision journey
+Be consistent with your messaging across each channel of interaction

12. STRENGTHENINGBRANDOUTREACH-RECOMMENDATIONS
Tighten Channel Strategy
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+The digital touch points offer brands loosing out in the consideration stage an opportunity to make it to the decision journey at the evaluation stage
+Research confirms that consumers flog to ecommerce sites to gather information and compare products than spending time on search engines
+Consistent messaging along with fixing all broken links on ecommerce channels is the key to engage with the consumers at the evaluation stage
+Develop positive product reviews by 3rdparty, ensure complete product specifications is available online, offer discounts through banner adverts, create social buzz through product videos, confirm delivery timely & organize a hassle free delivery schedule for a successful purchase decision journey

13. STRENGTHENINGBRANDOUTREACH-RECOMMENDATIONS
Content Strategy
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+Engage with the blogging community, seek feedback from consumers, create positive product reviews, ensure message consistency across web, ecommerce, social, TV and print to create authenticity
+Engage with consumers through digital POS, online, email promotions, etc. to have a positive impact on the consumer decision journey
Data Analysis
+Monitor consumer data and purchase behavior across multiple channels to create customized and positive interaction with them
+Analyze consumer-brand interaction results, consumer data received from all departments, online activities, post purchase behavior, and competition to carve a superior engagement strategy at the evaluation stage

14. STRENGTHENINGBRANDOUTREACH-RECOMMENDATIONS
Post-Purchase Strategy
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+Set up product/service community to create positive buzz and influence new buyers seeking knowledge at the evaluation stage
+Allow customer service interaction beyond voice services through social media, mobile messaging and online chats to address consumers post purchase issues immediately
+Value add to consumers experience with fresh content update on product/service usage, new uses and customer service surveys
+Engage with customized promotional emails, discount offers, and alerts to retain consumers
+Monitor consumers online activities and provide them with customized offering to keep them engaged to your brand

15. Feedback/Questions?
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16. LinkedIn:in.linkedin.com/in/ranjanalok/
CONNECT WITH ME
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