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.