The buying cycle is a process that consumers go through when deciding on new products. Marketers must tailor their messages to each stage of the cycle, which includes understanding a need, gathering information, deciding between alternatives, and confirming the product meets their needs. Marketers must tap into this process for optimal results.
The buying cycle is a process that most consumers go through when deciding whether or not they need new products and determining what those products should be. This is a process marketers need to leverage, reaching out to each stage of the cycle and tailoring the messages sent to the stage in the cycle consumers may have reached. In general, the buying cycle consists of a series of challenging phases. First, a consumer understands a need or lack, which leads them to gather information about alternatives to satisfy this need. After deciding between the alternatives, the consumer makes his decision and thus ensures that the product or service delivers on its promise.
Many people consider marketing to be all about the products and services that different companies have to offer. While making sure these products and services are of the highest quality is certainly important, marketers must always remember that their purchasing decisions are ultimately subjective. People follow a process to make decisions, and marketers need to tap into that process for optimal results. This process is known as the buying cycle, and companies that understand the cycle have an edge in their sales.
In general, the beginning of the buying cycle comes when the consumer or shopper realizes that something is missing that constitutes a need. This could be because their old products no longer meet their needs or because consumer situations have changed to create new needs. At this stage, marketers need to reach out to represent their products or services as a response to these needs.
If a consumer simply decides they need a product but hasn’t yet decided on a specific brand, the buying cycle continues as alternatives are considered. At this point, marketers need to send out messages making it clear that whatever they are offering is superior to competitors’ offerings. Consumers often perceive their potential purchases as risky, and marketers need to send messages that alleviate these concerns.
Once the alternatives have been considered, the consumer will complete the purchasing cycle by choosing and buying a product. Marketers need to realize that their job isn’t done at this point, however, especially if they have an existing and long-standing relationship with a client. There should be some kind of confirmation that the products sold meet the needs of customers. At that point, the cycle begins again, meaning marketers and salespeople need to remain vigilant in their approach to their customers.
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