Paying attention to the buying process

Understanding customer behaviour in regards to purchasing products and services is crucial to improving a business’s marketing strategy and increasing its sales and profits.

And while business marketing techniques and strategies have changed over time, the decision-making process customers undertake before making a purchase has generally remained the same.

Understanding how this decision-making process applies to your business and its customers, can help business owners create a marketing strategy that provides customers with the right information at the right time.

Stage 1: Problem identification and evaluation
No matter the industry or business type, the buying process always begins in the same way: the customer realising that they have a need. Once a customer’s need has been identified, they usually begin seeking information to find a way to address that need. This is where business owners should step in to provide valuable help and resources in order to establish trust and authority.

Stage 2: Narrowing down and decision-making
Customer decisions are based on a number of factors. Businesses need to identify those factors to understand what would make a customer choose their products over others, so they can present those reasons to customers during this stage.

Stage 3: After purchase
A business’s marketing strategy should not stop after a customer makes a purchase. Building and maintaining customer loyalty involves staying in contact with customers after they have made a purchase to ensure that their experience with a product is a positive one. Some customers may feel unsure after making a purchase, so it is important for the business to reinforce that their purchase was a good one. The better a customer’s experience of your product or service, the more likely it is that they will recommend you to others.

Categorised in: Firm journal

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