4 ways in which technology has changed the user’s buying journey
Oct 18, 2022
6 minutes to read
For businesses to succeed in the 21st Century, the adoption and implementation of technology is of great importance. The incorporation of technology and business is something which has revolutionized sales across a vast variety of sectors and industries. Alongside this is the way in which technology has changed the buying journey experienced by customers. This article will delve into four examples of this.
CPQ functions as an acronym for Configure, Price, Quote. The software is most widely recognized for the way in which it streamlines such processes and centralizes pricing information. CPQ makes the buyer journey quicker and more efficient. As a direct result from this time reduction, the relationship between a customer and a member of the sales team becomes increasingly collaborative. This is because with CPQ, administrative tasks become automated. In turn, sales teams have more time to dedicate to customer interactions. Customers are then in receipt of a more engaging buying journey, alongside better communication and responses.
In addition to the above, the buying journey increases in accuracy regarding configurations and quotes. The customer therefore has a more straightforward buyer journey with improved experiences. Thirdly, CPQ software makes the buyer journey better tailored to meet customer requirements.
Ecommerce refers to the buying and selling of products through the Internet. Four key stages have been defined within ecommerce: discovery, interest, intent, purchase, and engagement. Ecommerce means that buyer journeys are more fleeting yet common. This form of the buying experience ascribes independence and jurisdiction to the buyer, who is in complete control of their own journey. Customer satisfaction and efficiency reports become increasingly positive under ecommerce due to this complete autonomy.
Ecommerce does not merely transform the buyer journey, but equivalently the selling journey too. The use of online cookies allows companies to derive more data about consumers, enabling more effective marketing techniques, and ultimately an increase in lead generation.
VR is able to create what feels like a genuine shopping experience, materializing in the comforts of the customer’s domain. This removes all stress or angst from the buyer experience, encouraging buyers to extend their process for a longer time period. VR also means that buyers will receive different formats of advertising during their journey. The brand Northface is well known for their virtual reality campaign in 2015, where buyers were invited to take a step into the South Pole. This profound experience offers something which will truly stick with consumers, equally strengthening their internal relationship with the brand and encouraging them to become loyal and consistent customers. VR also strengthens the quality of customer service, improving communication and eradicating the number of complications which arise from the use of online chat bots. Finally, it is also notable that through the use of VR customers can more effectively experience their product or service of interest.
Transformations in consumer behavior
There are three key ways in which technology has transformed consumer behavior. These are: the use of multiple channels in the buyer journey, increased connectivity between consumer and vendors, and the increase of buyer expectations.
With the rise in availability of technology, buyers in the modern era purchase goods and services by using a variety of channels and devices. Advertisements may be received on one device, such as through email marketing or through televised adverts. Buyers then tend to proceed to conducting research on what was advertised, typically on their cellular device. Some buyers use the same device to finalize their purchase, whilst others then opt to finalize it on their tablet or laptop.
Similarly to ecommerce, the widespread adoption of social media means that connectivity between consumers and vendors is strengthened. As a result of this, buyers are enabled to make enquiries about products. In turn, companies are able to better engage with their clientele and market products to a larger target audience.
Increasing buyer expectations
The widening of the technological market means that there is also a widening of competition. Due to technology becoming more dispensable, customers have higher expectations for the products they are buying. Consequently, in their buying journey they will use previous experiences as a point of reference. Furthermore, buyer journeys are becoming increasingly common due to the scale of the market. Customers have become expectant of quick response times. They also demonstrate a preference for well tailored products and services, meaning companies are expected to provide self configuration tools.
To conclude, technology has significantly transformed the experience of consumers throughout their buying journey. The implementation of CPQ software, Ecommerce, and Virtual Reality means that buyers are given more authority over their experience. Many steps have also been taken to enable buyers to consume goods and services from the comfort of their own home, which in turn has led to more sales being made. Beyond the buyer experience, technology has also lead to changes in consumer behavior.
Every month, I share an insights newsletter with thousands of marketers.
Content Lead at Talon.One
Wiener Strasse 10
41 Church Street
B3 2RT Birmingham
One Boston Place, Suite 2600
02108 Boston, MA
1 Scotts Road, #21-10 Shaw Centre