Phase 3: Buyers
Attract new customers to a product.
Sustaining revenue growth is difficult because most product markets have a natural life cycle. First, a product has to prove itself with early adopters. Revenue growth then accelerates as more buyers want to buy the product, until it reaches a point of maximum penetration. At this point, growth slows, or even declines. The way to find new sources of product-driven revenue growth is to launch new products to new buyers at the right time in order to enjoy a long life cycle.
- Buyer personas
- Buying process maps
- Buyer value chain analysis
- Critical success factors
With Buyer Data Planning complete, it is now time for Phase 4: Buyer Behavior.