The Three Stages of the Buying Cycle

Each and every person, whether they realize it or not, enters into a buying cycle when shopping around for a service or product. Much of the process is done without really thinking about it. And this is where you can get them!

As a business, you obviously need to be aware of this buying cycle. To be a real contender in the world of business, however, it’s essential that you not only be aware of its existence but that you learn to master it. The good news is that it isn’t rocket science. With some hard work and dedication, you can effectively master the three stages of the buying cycle:

Stage #1: Awareness

It may seem obvious, but we’ll say it anyway — no matter how good your product or service may be, you can’t sell it if a potential customer has no idea that it exists. In some cases, someone may be searching for exactly what you offer and all you need to do is get it out in front of them. On the other side of the coin, putting your company out there for the whole world to see can help elicit a response in someone who becomes interested in your product when they possibly weren’t even looking for it. Both of these scenarios are handled by the proper use of advertising. In online circles, this primarily consists of the proper use of SEO (Search Engine Optimization) and PPC (Pay Per Click). Take advantage of the advertising capabilities of social media by creating pages on Facebook, Twitter, Pinterest, and various other sites that will make it easier for customers to find you. The more exposure you achieve, the better off you’ll be.

Stage #2: Consideration

This is where your first big opportunity lies. The customer has discovered that your product exists, he or she has clicked on a link that matches their interest, and are now on your website. This is often the make-it-or-break-it point, where you have the chance to either grab their attention or let them fade off into the ether of the Internet. The key here is to develop landing pages that successfully utilize the keywords that the customer may have been searching for. When a potential customer visits your website by clicking a link, they want to be taken to the page that most accurately represents what they were searching for. If you attempt to bait-and-switch them or simply fail at targeting the keyword via the landing page, you’re likely to lose them. And on these landing pages, use everything at your disposal to grab their attention and keep it, whether it’s an informative article, quirky video, or another form of media that grabs their attention.

Stage #3: Decision

After all of your hard work at bringing the customer to your business and showing them why your product or service is better than the competition or simply something they cannot live without, this is the moment of truth. If you’ve successfully done your job up until this point, there’s a good chance that you’ll get a slam dunk, i.e. an immediate purchase. If you don’t get that quick order, however, be sure not to panic. Follow up with the customer to further entice them to your product. Use what you’ve learned about their clicking and buying habits to your advantage. If you can stay in their minds and remind them why they need or should want your product, you have an excellent chance at making them a customer for life.

As you can see, mastering the buying cycle isn’t too difficult once it’s been broken down for you. Focus on the tips we’ve provided and you’ll find yourself succeeding in no time. Good luck!