Phase 3: Buyers

Attract new customers to a product.

 

The Problem

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.

 

The Solution

  • 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.