The customer value journey for tech companies is a little different than for other types of businesses. Potential customers tend to be more research-oriented, and they’re looking for specific solutions to their problems. That means that the customer value journey for tech and online-based businesses should be designed with those needs in mind.
In this blog post, I will discuss:
- Customer Value Journey by definition
- Stages of Customer Value Journey
- Key Differences in Customer Value Journey for Tech/Online Businesses vs. Traditional Businesses
- Risks of Not Having a Customer Value Journey For Your Business
The Customer Value Journey Defined
A customer value journey is the process that a customer goes through when they’re considering a purchase. It begins with the customer’s initial search for a product or service, continues as they compare different companies, and ends with their decision to buy (or not).
Businesses can use this framework to better understand their customers and create marketing materials that speak to them at each stage of the journey. The customer value journey typically consists of four stages: awareness, interest, consideration, and purchase.
The customer awareness stage is simply when the customer becomes aware of a need or want. They might start to search for a particular product or service, but they haven’t yet decided on a specific choice.
At this stage, it’s important for businesses to provide helpful information that will educate the customer about their options. This can be done through blog posts, infographics, or even social media posts.
It’s also important to focus on SEO at this stage, as customers are likely to use search engines to find information about potential purchases. By making sure your website appears high in the search results, you’ll be more likely to capture the customer’s attention.
The customer interest stage is when the customer begins to compare different companies. They might read reviews, compare prices, or look at product features.
At this stage, businesses should focus on creating content that highlights the unique features of their products or services. Case studies, customer testimonials, and demo videos can be particularly helpful in this stage.
It’s also important to make sure your website is easy to navigate and provides all the information a customer might need. If a customer has to search for too long to find what they’re looking for, they’re likely to move on to a competitor’s site.
The customer consideration stage is when the customer decides whether or not to buy from a particular company. They might compare prices one last time, read more reviews, or reach out to customer service for more information.
At this stage, businesses should focus on providing a great customer experience. This means having friendly and helpful customer service, offering fair prices, and making it easy to purchase your product or service.
The customer purchase stage is when the customer finally buys a product or service from your business.
After the purchase has been made, businesses should focus on customer retention. This means creating a customer loyalty program, offering customer support, and continuing to provide great customer service.
It’s also important to ask for customer feedback at this stage. This can be done through surveys, customer interviews, or even social media monitoring. By understanding what customers think of your product or service, you can make improvements and ensure that future customers have a positive experience.
Customer Value Journey For Tech/Online Companies versus Traditional Businesses
The customer value journey for tech or online-based businesses is different in a few key ways.
First, tech companies tend to have longer customer journeys, as customers usually need more time to research and compare products before making a purchase.
Meanwhile, the customer value journey for traditional companies may be more simple and straightforward. For example, a customer may be aware of a local business because they see it every day when they drive by. They may decide to give it a try based on word-of-mouth or personal recommendations and voila, a purchase has been instantly made!
Second, tech companies should focus on creating content that highlights the benefits of their products or services. This is because customers are often looking in terms of how your product or service benefits them.
Traditional companies, on the other hand, may focus on customer service or providing a great customer experience. This is because customers may be less concerned with product features and more concerned with convenience or customer service. But this is not to say that tech companies should dismiss the importance of great customer service.
Risks of not having a customer value journey in your business
There are a few risks associated with not having a customer value journey.
First, your business may miss out on potential customers if you’re not targeting them at the right stage of their journey. For example, if you’re only targeting customers at the purchase stage, you may be missing out on potential customers who are still in the research or consideration stage.
Second, without a customer value journey, you may have a hard time creating targeted marketing campaigns. This is because it’s difficult to create an effective marketing campaign without knowing what stage of the customer journey your target customer is in.
Third, without a customer value journey, you may struggle to understand what your customers want and need. This is because the customer value journey provides insights into customer behaviour.
Finally, without a customer value journey, you may have difficulty retaining customers. This is because the customer value journey can help you identify customer pain points and address them.
In a nutshell, overlooking your customer value journey simply means you’re flying blind and risking your business’ success. But with trusted help, you can create a map that will guide your team to providing exceptional customer journeys that result in more sales and happy customers.
Ready to get started? Book a call with me at https://calendly.com/natalianicholson/coffeebreak?back=1&month=2022-05 for a strategy session on customer value journeys. We can brainstorm ideas and strategies tailored specifically for your tech or online-based business. Together, we can make sure your business is headed in the right direction by putting the focus on your customers and their needs.