Marketing Secret Weapon #1

Understanding the purchase process is your secret weapon for investing marketing dollars wisely, creating engaging content and maximizing your pipeline of potential purchasers.

What is the Purchase Process? 

You may have heard the purchase process called the buying cycle, or the customer journey. What’s important, is the understanding that every purchase is a process. For a low-priced product, like deciding where to stop for lunch, your process may only take a few minutes. For a high-priced product, like a new home, the process may take many months. 

A Quick Look at Each Phase of the Purchase Process:

I’ll use my recent deck purchase as an example.

• Awareness: I noticed a few boards in our deck were worn out and I was concerned the boards might break.

• Discovery: I started to explore a few options for next steps. I could replace a handful of boards and then re-stain the existing deck, or I could replace it. 

• Intent: I decided to replace the whole deck and got a few estimates for both wood and composite decking material.

• Purchase: I purchased the materials and hired installers.

• Loyalty: The composite decking we chose has a lifetime warranty. We like our deck so far and I would recommend both the material and the installers to others.

Often businesses aim the majority of their marketing investment at the intent/purchase phases of the process. Where you need to focus will depend on your goals. If you want to have a healthy pipeline of leads, the discovery process is essential. If you are launching a new business, awareness is key. And, if you depend on repeat purchasers, cultivating loyalty is more cost-effective than acquiring a new customer.

 So, what do you do with this secret weapon to maximize your sales and beef up your pipeline?

Purchase Process Recommendations:

1.     Map your current marketing efforts and messaging by stage, for example: 

a.     What are you doing to create awareness? 

b.     What messages do customers receive after a purchase?

2.     Map your marketing budget by stage. Where do you need to adjust?

3.     How are you measuring each stage? One of the most common issues I see is trying to measure a tactic designed for awareness, by sales/revenue instead of  by reach and engagement. 

4.     Look at how your website and other content addresses each piece of the buying process and add content/tactics for any gaps. For example, do you have charts, comparisons, or other tools that help answer customer questions about your products/services?

5.     Get customer input to fine-tune your customer experience.

If you continue to evaluate and adjust each phase of the purchase process you will see improved results.

Need help to evaluate your current marketing approach and build a plan? Get started with a free consultation.