Buyer’s Journey

A guide to getting the most out of your Wrench subscription

What is the Buyer’s Journey?

This is the process all buyers (you can easily swap buyers with “investors”) go through as they become aware of, evaluate, and purchase a new product or service. The journey is generally comprised of five-ish steps.

For example, you will talk to someone who is just figuring out they have a problem or need at the Awareness stage differently than you would someone who is weighing solutions at the Preference stage.

Each segment of your adoption curve will go through the buyer’s journey; if your marketing efforts are successful, you will see a drop-off in prospects at each stage, but a higher rate of engagement and conversion.  

Buyer's Journey (5)

Buyers identify a goal, challenge, or pain point they want to pursue. They also decide whether or not the goal, challenge, or pain point should be a priority.

Category: Buyer's Journey

Buyers have clearly defined a goal, challenge, or pain point and have committed to addressing it. They evaluate different tools and solutions available to pursue their goal or solve their challenge / pain point.

Category: Buyer's Journey

Buyers choose your solution to meet their goal, or solve their challenge / pain point.

Category: Buyer's Journey

Buyers are satisifed or highly satisifed with the outcome of their initial purchase and either repeat the purchase, or purchase a new offering.

Category: Buyer's Journey

Buyers exhibit a positive net promoter score and provide a testimonial, participation in a case study, or referr new customers. Partner customers are fully engaged in a long-term relationship. Provide them with high-quality champagne at the end of the year, or if they do not drink, artisinal root beer.

Category: Buyer's Journey

Dan Baird

Dan is an innovation strategist and product manager that has developed software, crowdfunding platforms, consumer products, and launch strategy for both startups and some of the U.S.'s favorite household names. His value is in generating unique solutions by combining the strategic thinking afforded by an MBA in Global Branding with the creativity and grit from years as a bootstrapped entrepreneur. Dan's best work at the front-end of any platform innovation: trend analysis, insights, ideation, prototype and launch. Specialties: crowdfunding, innovation, branding strategy, Ai marketing, product management, cross-functional project leadership

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