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Purchase Cycle 2.0
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Odd Spot: Chew on This!
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Vol. II/Issue 10 May/2009
Feature Reading Time: 3 min. 19 sec.

Greetings!

How many of you take classes of some sort or another? I take weekly lessons from a riding instructor. She's tough but filled with expertise. I love listening to her stories and have deep respect for her experience and knowledge. When she says, "Jump!" I do. Literally.

A couple weeks ago she recommended I take a clinic from another instructor (who was long-listed for the Olympics). Being rather addicted to riding and eventing I grabbed the opportunity. So I spent the weekend launching myself over jumps and applying a new perspective on my knowledge and skill base. It was awesome.

I've taken the same philosophy when it comes to analyzing and understanding the role written communications has in today's purchasing cycle (you know, what your customers go through to get to that yes).The sooner you can pinpoint WHAT you need, WHY, and HOW, the sooner you can get to the point of saying, "Business is awesome!"

Happy Trailblazing,

curtains
 
Purchase Cycle 2.0
  by Karen Marley
 

Recently, MarketingProfs posted a little article entitled, "Five Stages of the Purchase Cycle."

The stages were listed as:

1) Awareness.
2) Information Search.
3) Alternative Evaluation.
4) Purchase Decision.
5) Post-Purchase Behavior.

In this case awareness was defined as "when someone is beginning to think about a need and to identify solutions, it's essential for a marketer to 'just show up.'"

Yes. But ignorance is bliss. And people don't know what they don't know. Meaning, there are many qualified prospects out there who need basic knowledge and education on a particular topic to get to the point where the light goes on and they say, "Hey, I get it. I need a solution!"

A few days later a presentation on purchase cycles found its way to my desk. This one organized the stages as:

1) Awareness.
2) Interest.
3) Consideration.
4) Trial.
5) Purchase.

The presentation went on to explain advertising's role was to create awareness.

Except advertising creates visibility, not awareness.

This may sound like nit-picking. But it matters. It matters because each stage of a purchase cycle is progressive and awareness is first. It matters if you want to make careful, strategic decisions about where to shoot your marketing budget. And it matters because recent events have changed the purchase cycle equation.

Enter social media.
 
Enter the recession.

Enter advertising bombardment.

Enter the culmination of years of unscrupulous ads pushing hyped-up promises.

Enter Web 2.0.

These are the realities we all have to address. Sorry. Can't do anything about the rules but we can change the way we play. So it's time the purchase cycle received a tune up. Not an overhaul. Just an updated version so it can once again be a tool capable of helping you decide precisely what you need to do to get your potential customers move through to the purchase.

Stage 1: Awareness. A person is exposed to enough information so they become cognizant of their need. They become "educated." The marketer breaks that cycle of "they don't know what they don't know." You can take control here and have brand specific credibility and momentum capable of taking you right through Stage 4.

Stage 2: Visibility. Here is where names can start to show up and actually mean something. Once a person is aware of their need they will notice the ads because the ads are relevant to them. FYI: If your company is making its debut in front of prospects here, you are competing against the credibility, trust, and visibility already established by your competitors who started at Stage 1.

Stage 3: Interest. At this point a person begins to actively accept and search for information relevant to their solution.

Stage 4: Consideration. Evaluation of value and specifics to needs, cost, and brand step forward. Here is where your prospect asks for quotes from other vendors and does some comparison shopping. Help them here and you can increase your visibility and credibility.

Stage 5: Purchase. It's a done deal. This is the place where those time-sensitive offers help the call to action. On sale for a limited time! Special gift if you order today! Don't miss out!

Stage 6: Post-Purchase Behavior. Once a purchase is made are you done? Not if you care about a little thing called word of mouth. Thank you cards, satisfaction check-ups, and continuing education are all ways you can continue to reach your new customer in a positive, supportive way.

Want to use this article in your e-zine, newsletter or Web site?You can as long as you include this complete blurb with it: Karen Marley is an independent business writer who helps businesses communicate their value to their prospects and customers.
She can be reached at http://www.kmwordsmith.com.

P.S. This article was inspired by a lengthy Twitter conversation (by Twitter standards anyway) I had with Allen Weiss, founder of MarketingProfs.

KM Recommends
Twisted Words

Random humor is a great jolt of creativity. Try the Marketing Addictionary. Here you can read about Web 2.0-verload, cusstomers, and bullosophy.


Odd Spot
Odd Spot Chew on This!

Eeeewe! If you put Cool Whip in a bowl and leave it uncovered for days on end...it won't melt! It develops a plastic-like coating you can use as a writing surface. Try it! This guy did.

Maybe this is Cool Whip's idea of added value. Won't melt at your picnic! Reuse it as a white board! 
 
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