The NEW funnel | The consumer journey reinvented

(bright electronic music)
(birds chirping) – A few weeks ago, I railed
against the marketing and sales funnel. It's antiquated, it's
old, it doesn't work, and a bunch of you, my
loyal fans and followers and friends, asked me a ton of questions. But the most-asked
question about that video was hey, Drew, if the funnel is broken and it doesn't work anymore,
what is the new model? (ding) Well, thank you for all
the great questions. And, to be honest, I've
spent three years trying to answer this question, and I finally got an answer for you. So today, for this very special
episode of The Loyalty Loop, I am going to be debuting The Loop. Let's do it from right here in foggy, chilly Cape Cod, Massachusetts on this episode of the The Loyalty Loop.

(fast-paced, upbeat electronic music) Okay, welcome back, or
maybe you never left because you already watched that video or you already believed that the marketing and sales funnel is broken,
and you're here to find out what we should be using instead. Well, we are going to use this. (bright, chiming melody) Yep, this. I know it's not filled in yet, but here's what's important
to just understand when you're looking at this. This is a series of interlocking loops. It is not one way, which the funnel is, and it doesn't rely wholly
on you raising awareness for your brand if you
need to fill the funnel or generate leads or get more sales.

It is a series of interlocking loops that I think reflects
today's consumer journey. So here's the deal. You can start anywhere on this loop. Yeah, anywhere on the Loyalty Loop. But we're gonna start right here at the moment of inspiration. A moment of inspiration
is an instant in time that sends you on a
journey you never expected. So let's say you're standing in line at a convenience store,
and you're thinking, hey man, I just had a tuna
salad sandwich for lunch, and I have really bad
tuna salad salad breath.

You have just experienced a moment of inspiration. Remember, it's an instant in time that's sending you on a
journey you never expected. Or let's say you are sitting in a meeting, and you've missed the third deadline on the third client
project in three weeks. And you're thinking to yourself, man, there must be a better way to manage projects for this company. (ding)
That is a moment of inspiration. Now there are multiple types
of moments of inspiration. Maybe we'll talk about
those in a future episode. Or, if you have questions
about 'em, leave 'em below. But the second thing that
happens unintentionally and subconsciously in
the mind of your consumer is a trigger question
pops into their mind. Yes, every time there is
a moment of inspiration, a trigger question pops into your mind. So you're standing in line
at the convenience store. You realize you have bad breath. You realize you need some gum. The first question you ask yourself is what gum am I going to buy? That is a trigger question.

Or you're sitting in that meeting, and you're wondering to yourself, man, how are we continually
missing these deadlines? What software or technology could help me manage projects better? That is your trigger
question for the moment of inspiration that just occurred. So a trigger question is
the first question that pops into your mind anytime a
moment of inspiration occurs. And then, subconsciously
and unintentionally, the third thing happens
very, very quickly. The third thing that happens
is a prime brand pops into your head, a prime brand. The prime brand is the first brand that pops into your head when
that trigger question occurs for that moment of inspiration.

So you're standing in line
at the convenience store. You realize you've got bad breath. You ask yourself, man, what
kind of gum should I buy? The first brand that pops into
your mind is the prime brand. Go ahead, yell it out. What's your prime brand for that moment of inspiration and that trigger question? Aha! There it is, your prime brand. I said Trident; that's the prime brand that pops into my head as soon
as that question is answered. Now there are no wrong
answers for your prime brand, but if you understand your
moments of inspiration for the customers and clients you serve, the trigger questions that pop into their mind the instant
that question is asked and the prime brand, you're on your way to building a better, more
understandable consumer journey. Now let's take that other example. You're sitting in the conference room, you realize you missed three deadlines in three weeks for three projects, and you wonder to yourself, man, there must be a better way
to manage our projects.

What software or technology could I use to manage that project better? Immediately, the first brand that pops into your head, it's the prime brand. Now for me, I don't know any
of those software projects. So the first brand that
pops into my head is Google. And you should know right now that Google is the center of the
online marketing universe. It is the first place that people go when they can't think of a prime brand. Maybe you think, man, I
know that I've heard Trello can manage projects better. Maybe I should check out Trello.

Well, now that's your prime brand. Now the fourth thing that
happens is right here. It is called active evaluation. Active evaluation is the process of adding and subtracting brands as you move over here towards
a moment of commitment. Now we'll get to a moment
of commitment in a second, but first, just be aware that, as you're moving along this journey, moving closer and closer to
the moment of commitment, you're adding and subtracting brands as you interact with blog
posts and friends and family.

You're doing Google searches,
you're hitting the back button and, at any moment,
you might decide to add or subtract a brand given
what you've read or consumed or watched in the digital universe. I wanna be really clear. Sometimes, you're not even online. In fact, in active evaluation, we know that 72% of all consumers know what brand they wanna work with before they've ever
interacted with the brand, which means they're not
even on your website.

They're over here somewhere
on active evaluation, and they've spent a huge
amount of time and energy, mental energy, even, thinking about what brand they want to work with. For B2B customers, it's about 50%. 50% of B2B consumers know who they want to work with before they've
ever interacted with the brand, which means you have never heard of them. You don't know them because
they're in active evaluation. Now we gotta pause for a second. Ah, (laughs) because it is right here where, at any moment, active
evaluation can be interrupted with a new moment of inspiration. Remember, a moment of
inspiration is an instant in time that sends you on a
journey you never expected. Maybe you read a blog
post, or maybe you notice at the convenience store that
some kind of brand of gum that you've never heard
of before is on sale. That is a new moment of inspiration. It leads you back down to
a moment of inspiration where you ask yourself a new question, and you now have a new prime brand in that specific instance.

Now let's assume that you're making it through active evaluation. You've made it all the way over here to the moment of commitment. Now the moment of commitment
is unbelievably important. A moment of commitment
is an instant in time in which you trade money,
data, or time for information, a product, or a service
or to support a cause. That's right, that is
a moment of commitment. We need to remember
that, in a digital age, data and time are just
as valuable as cash. Now maybe in the bad breath example, you have decided that you are
going to purchase some gum. You are committing by buying
a product in that instance. However, in the B2B example,
if you are thinking, man, I still don't know which
product solution I want, you might be willing to sign up with an email address to
download a white paper or get on a six-week email program that will help you make a better choice. That is the same kind of
commitment as buying a product. You are committing by trading your data, your email address, for
some valuable information, and we need to take that very seriously.

That is a moment of commitment. Are you guys still with me? I hope so because I
know this isn't simple. It doesn't look like a
funnel, but it's really, really important because,
at the moment of commitment, we're moving into the new next phase. Down here, you have the beginning of the next step in the consumer journey. Now this is called the Loyalty Loop. The Loyalty Loop is the
experience you deliver after a moment of
commitment that's designed to create new moments of inspiration that trigger new questions in the mind of the consumer where
you're the prime brand, and you move very quickly back to a new moment of commitment. You see, what it does is
it eliminates the noise of active evaluation. So the goal for acquiring
new leads and customers and clients isn't just raising
awareness and getting them to buy and getting them
to show some interest.

It's actually focused
on all the right things. Can you use a moment of inspiration to answer a trigger question
where you're the prime brand where they commit with
information or data or time to actually make a
commitment to your brand before they end up going
through the loop a few times to buy your product to make
a new moment of commitment? Now this is the new model. This is the model for a new age. This is the equivalent of what
Saint Elmo Lewis developed in 1898 back in Detroit. And I hope this helps you
rethink the consumer journey, re-understand where
you can make an impact, even how to measure it. I wanna know from you, what do you think of this new world? What do you think of this new model? What questions do you have, and how can I help you
understand the value of thinking this way in
a modern marketing world? And I'll see you next
week in my Loyalty Loop.

(intense electronic music).

You May Also Like