Do you know your Customer? Buying Cycle & Triggers
Enrique Suarez Presenting:
Founder of For Entrepreneurs
This article written by David Skok looks at why customers expect different interactions with you depending on where they are in the buying cycle. It also examines how specific events trigger them into a buying mode. It then explains how you can use this information to make your marketing more effective.
The Customer Buying Cycle
A simple way to look at the buying cycle is to break into three stages:
1. Awareness – when a customer first becomes aware of your product. Or could also refer to the point where a customer first becomes aware of a need that they want to fulfill.
2. Consideration – when a customer starts evaluating solutions to their need
How Buying Cycle impacts the sales approach needed
Imagine that you wandered in to a clothing store while walking around the neighborhood. You didn’t have a particular idea of anything you want to buy. You are approached by a hungry salesperson who is convinced they can get you to buy something. You are annoyed by too much attention, and feel that they are ruining the peaceful browsing experience that you hoped to have.
Now imagine that you have gone into the same store. However In this situation, you have a urgent need to purchase a black sweater, and don’t have much time to waste. You want a salesperson to help you immediately, so you don’t waste your time looking for the item. However you can’t seem to get the attention of any of the salespeople. You are highly irritated by the lack of attention.
What’s the difference?
The difference between these two examples is where you are in the buying cycle. In the first situation, you are early in the Awareness stage, and in the second example, you are right at the end of the purchase cycle.
You can read the rest of this article I have originally posted on LinkedIn below: