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Ditch the Funnel: 'Purchase Loop' Echoes New Buyer Behavior

by Lenna Garibian  |  
February 13, 2013
  |  5,682 views

With the advent of digital, social, and mobile media, the consumer buying process has become more complex than simply identifying a need, exploring options, and making a purchase, according to new research conducted by Latitude and About.com.

Even so, buying decisions appear to happening more quickly than before, the study found.

Below, additional findings from the study titled "The Purchase Loop," by Latitude Research and About.com.

Winding Purchase Path

Most consumers move along a complex, nonlinear pathway to their final purchase:

  • 87% of those surveyed say shopping is "more happening" than identifying a need, exploring options, and purchasing.
  • 83% say their path to purchase may involve a greater number of "stops," but it takes less time than it used to overall.
  • 73% say their path to purchase is more complex and less direct than before.

Also, shopping today is a more personal and emotional experience:

  • 79% of consumers say their relationship with brands is much more personal than ever before.
  • 68% say shopping today is "less about the brands/products themselves and more about me (e.g., what I'm feeling or needing)."

Purchase Funnel Tells Only Part of the Story

The concept of the purchase funnel first appeared in the late nineteenth century as a linear customer journey toward the purchase of a product or service.


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Lenna Garibian is a MarketingProfs research writer and a marketing consultant in the tech industry, where she develops engaging content that builds thought leadership and revenue opportunities for clients. She's held marketing and research positions at eRPortal Software, GAP Inc., Stanford University, and the IMF. Reach Lenna via Twitter @LennaAnahid and LinkedIn.

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Comments

  • by Jim Kurtz Wed Feb 13, 2013 via web

    Nice article!

    A key difference in the sales funnel now vs before is that consumers tend to stay in the "funnel" a lot longer. It used to be fairly straightforward to move customers through the decision-making process. Now, prospects tend to need several interactions at each step to reinforce their interest. Your article highlights what needs to be done at each phase to help move the cycle along.

  • by Pam Wed Feb 13, 2013 via web

    Where's email in that Platforms Used/Relied on for Purchasing? It could be in mobile/tablet, etc, but that chart doesn't really break channels out well.

  • by Marcus R. Thrall FInstSMM Wed Feb 13, 2013 via web

    Okay.
    This won't be my measured response but I felt compelled to contribute straightaway. I loved the concept of the Purchase Loop and in it's context sense, it's something I have been witnesses and harking on about recently. The traditional sales funnel has changed, it become more diverse but it is shortening and influence(s) / choice and experience are all factors in that.

    2013 will see the rise of 2nd / 3rd Screen interaction and how this will influence this Purchase Loop. Customer sat digesting broadcast media then interacting with a brands website / ecommerce and while this all going on chatting about that digital retail experience with their friends on social media channels.

    Only this afternoon I witness this is real time while having lunch in Leeds. A group of female students chatting, viewing websites for clothes while posting comments via Facebook on the range and their experience and thus likelihood to purchase.

    The challenge is the movement along the component parts of loop / funnel whatever and how we can can generate a smooth seamless journey. All in all a thought provoking and inspiring article that makes me want to read the full report tomorrow.

  • by Sue Duris Thu Mar 21, 2013 via web

    Nice. Thanks. The issue with the funnel/purchase loop is that for the most part, prospects already know what they want by the time you put them in a funnel/loop. That's where great content and meeting them in their comfort zones create a win for you.

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