Marketing to the Buying Cycle
Does your marketing strategy market to buyers or researchers? Have you ever asked yourself this question when you begin to choose online mediums? You should.
We sometimes give little thought to whether our marketing efforts are attract prospects throughout the buying cycle. If you're like me, you probably find yourself or your clients spending most of time targeting buyers rather than researchers. This however may not prove to be the most useful strategy when you consider the long-term implications.
Yes, adding to the immediate bottom line is important for all of us. But how can one build branding or market awareness without marketing to researches that may not be ready to buy? Am I starting to plant the seed in your thinking?
Lets examine the traditional buying cycle:
1. Need recognition
2. Information Search
3. Evaluation of Alternatives
4. Purchase Decision
5. Purchase Evaluation
As you can see, the buying cycle originates from an identified need. This need is not simply satisfied from a purchase nor does it end with it. The fact matter is that all stages influence purchasing behavior. Therefore, strategies that focus entirely on "buyers" may be missing great opportunity in capturing prospective buyers throughout the entire cycle. Additionally, planting a seed early can have a dramatic effect upon purchasing decisions and your brand.
Now lets examine and identify some popular online mediums that can widely influence each stage:
1. Need recognition- Articles, Press Releases, Search Engines
2. Information Search- Search Engines, Directories
3. Evaluation of Alternatives- Shopping Comparison Websites, Review Sites, Search Engines
4. Purchase Decision-, Shopping Comparison Websites, Search Engines, Merchant Sites
5. Purchase Evaluation- Review Sites, Search Engines, Articles
When you consider the above, search engines have an amazing power to attract buyers through all stages of the buy cycle. Perhaps this is why most online marketers agree on its general effectiveness.
Interestingly, articles and press release are great for creating need in the market place, which makes them an excellent choice for planting the seed early and obtaining brand awareness. Shopping comparison websites on the other hand, are quick to grab buyers ready to make a decision, however will most like have more impact if earlier stages in the buy cycle have been addressed. Lastly, reviews and feedback will ultimately affect future purchasing behavior and therefore should not be ignored as effective for acquiring additional business.
Whether or not you think your marketing to buyers or researchers, marketing to all the stages of the buying cycle will ensure consistent stream of buyers. Finding the ultimate mix will be a challenge, however the payoff will increase sales, market awareness, and enhance future purchase behavior. So do some research and I think you'll find those buyers!
We sometimes give little thought to whether our marketing efforts are attract prospects throughout the buying cycle. If you're like me, you probably find yourself or your clients spending most of time targeting buyers rather than researchers. This however may not prove to be the most useful strategy when you consider the long-term implications.
Yes, adding to the immediate bottom line is important for all of us. But how can one build branding or market awareness without marketing to researches that may not be ready to buy? Am I starting to plant the seed in your thinking?
Lets examine the traditional buying cycle:
1. Need recognition
2. Information Search
3. Evaluation of Alternatives
4. Purchase Decision
5. Purchase Evaluation
As you can see, the buying cycle originates from an identified need. This need is not simply satisfied from a purchase nor does it end with it. The fact matter is that all stages influence purchasing behavior. Therefore, strategies that focus entirely on "buyers" may be missing great opportunity in capturing prospective buyers throughout the entire cycle. Additionally, planting a seed early can have a dramatic effect upon purchasing decisions and your brand.
Now lets examine and identify some popular online mediums that can widely influence each stage:
1. Need recognition- Articles, Press Releases, Search Engines
2. Information Search- Search Engines, Directories
3. Evaluation of Alternatives- Shopping Comparison Websites, Review Sites, Search Engines
4. Purchase Decision-, Shopping Comparison Websites, Search Engines, Merchant Sites
5. Purchase Evaluation- Review Sites, Search Engines, Articles
When you consider the above, search engines have an amazing power to attract buyers through all stages of the buy cycle. Perhaps this is why most online marketers agree on its general effectiveness.
Interestingly, articles and press release are great for creating need in the market place, which makes them an excellent choice for planting the seed early and obtaining brand awareness. Shopping comparison websites on the other hand, are quick to grab buyers ready to make a decision, however will most like have more impact if earlier stages in the buy cycle have been addressed. Lastly, reviews and feedback will ultimately affect future purchasing behavior and therefore should not be ignored as effective for acquiring additional business.
Whether or not you think your marketing to buyers or researchers, marketing to all the stages of the buying cycle will ensure consistent stream of buyers. Finding the ultimate mix will be a challenge, however the payoff will increase sales, market awareness, and enhance future purchase behavior. So do some research and I think you'll find those buyers!
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