LeadMD Benchmarking Buyer Journeys

Benchmarking the Buyer’s JourneyAligning buying behavior to your revenue model

John Muehling | Director, Solution ConsultingSeptember 4, 2014

April 10, 20232

Speaker Intro

Benchmarking the Buyer’s Journey

LeadMD

@myleadmd

/company/leadmd-inc.

leadmd.com/blog

John MuehlingDirector, Solution Consulting LeadMD

@johnmuehling

/in/johnmuehling

[email protected]

April 10, 20233

Outline for Today


Understanding Buyer Behavior Mapping Behavior to Revenue Models Benchmarking Your Results Buyer Persona Specific Models Avoiding Lip Service

April 10, 2023Benchmarking the Buyer’s Journey4

UNDERSTANDING BUYERSHow we build trust


Traditional Buying Concept


Look Familiar?


How we really buy


MAPPING BEHAVIORBuyer Journeys & Marketing’s Effect on the Journey


Perception vs. Reality


A.I.D.A.

Awareness – the customer is aware of the existence of a product or service

Interest – actively expressing an interest in a product group

Desire – aspiring to a particular brand or product

Action – taking the next step towards purchasing the chosen product


A.I.D.A. Evolution

A.I.D.C.A.S. – added elements of Confident & Satisfaction

C.A.B. – refined version focusing more on cognitive thinking, feeling & emotion

T.I.R.E.A. – breaks down components further & begins to define as a progressive journey more aligned with today’s buyer’s journey

R.E.A.N. – Reach, Engage, Activate, Nurture


Combining the Two Models


Traditional Terms Have Value

Identify & Research– (MAL): Marketing Accepted Leads – MQL: Marketing Qualified Leads

Evaluation & Formal RFP– SAL: Sales Accepted Leads– SQL: Sales Qualified Leads

Opportunity Pipeline Stages

Use & Loyalty– Customers– Lost Opportunities

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BENCHMARK



PERSONA REVENUE PATHSAll buying journeys are not equal


Research Models

Company vs. Consumer– Company Driven

Initial Awareness

– Consumer Driven Active Evaluation

– Social Interaction– Online Data Gathering– Word of Mouth


Breaking Down the Conversation


Marketing Meets The Buyer

Content

Research

Mark

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ng

Eff

ecti

ven

ess


AVOIDING LIP SERVICEShifting Away from a Fundamental Approach


Barriers to Success


Murder by Numbers

Only 22% of marketers use analytics to manage campaigns (beagle)

Only 38% of marketers have a single view of interaction with content across digital touch points (forrester)

82% of Marketers report being incented on lead volume (leadmd)

Only 27% of B2B leads are sales-ready when first generated (marketing sherpa)


The Final Blow

90% of business buyers say when they’re ready to buy, they’ll find you

(DemandGen Report)


Final Thoughts

We need to evaluate the model We have to change our thinking We need seek out the conversation We need to focus on nurture


QUESTIONS?

April 10, 202325

LeadMD combines the resources of a digital marketing agency with revenue-focused sales and marketing alignment strategy, all through the use of on-demand cloud technology. Creating, managing and converting quality leads in higher numbers is how we enable our clients to out-perform their competitors and out-market their peers.

The most effective way to engage more prospects and convert better leads is through Conversational Marketing. At LeadMD, we will help your team leverage email and online channels to build buyer trust and engagement through cutting-edge technology such as Marketing Automation. When your focus is on building a demand generation process that truly drives revenue, it’s time to engage LeadMD and fix your funnel.

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LeadMD Benchmarking Buyer Journeys

Marketing

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