Marketing funnel dead?
Mckinsey has an interesting new article in which they examine how consumers research and buy products. Here are some tidbits:
- The marketing funnel is dead (well sort of). It’s replaced by a less linear flow.
- Brand awareness matters. People choosing PCs add an average of 1 brand to their initial consideration set of 1.7; people choosing cars add 2.2 brands to their initial set of 3.8
- The point of purchase is important. Up to 40% of consumers change their minds based on something they see, learn or do at the point of purchase. Wow.
Should be a must read for marketers. More online here.