Understand your customers buying process

They’re a pretty integral part of your business, but how thoroughly do you understand what your customers are looking for, which features will best fulfill their needs, or the journey they’ll embark upon before choosing the product that best suits them? It’s absolutely vital that you know what’s going on in your customers’ heads at every checkpoint during their buying process; their habits, and the decisions they make, are an important part of your sales strategy, after all. Luckily John Dewey laid out the art of understanding the buying process, or the buying decision process, in 1910. We therefore have a reasonably established model on which to work. Read on as I guide you on an adventure through your customers’ thoughts…

1. Recognising a need

Just as you’re unlikely to buy a new television unless your current model fails you, your customer can’t establish a relationship with your business until they have a need to address, or a problem to solve. Why would they be looking at your products otherwise? This is stage one of the buying process, a journey that begins as soon as the customer recognises that need.

2. Searching for information

Okay, so your customer now has an appetite to satiate, or a broken television. Their next step, as you no doubt realise, is to begin their quest for information, taking to the Internet, print media, or television advertising in search of the product they desire. Your customer cannot hope to make an informed decision without first weighing up their options, so this becomes an important step during the buying process.

3. Evaluating their findings

Having made the decision to buy a new item, and sought out their options, your customer must now weigh up the pros and cons of each example they’ve found. Which item is the cheapest? Which boasts the most special features? Which, ultimately, will fulfill their wish list for the most agreeable cost? It’s at this point during the buying process that different customer characters will emerge; there are some that will base their decision solely upon cost, while others are most happy when they’re purchasing from a brand they recognise and trust. A customer’s attitude at this point has the power to establish, or dismiss, that relationship with your business.

4. Deciding to make a purchase

That final purchase is now in sight. Your customer has covered a lot of ground during their buying journey, but there are still two steps to go. Now that they’ve decided which brand they’d like to try, and have committed to spending a particular sum of money, there are just two factors that stand in their way; feedback from other customers, and an unforeseen event, such as a loss of employment or unexpected bill, that may prevent them from making any further purchases. All being well your customer will be inspired by positive feedback, and remain in employment – and thus, a new relationship is born.

5. Evaluating their buying experiences

It would be naïve to assume that the buying process finishes as soon as that till drawer closes. As soon as a customer has made their purchase they’re likely to compare the item, and the service they received, to every other similar experience, and to subconsciously rate their experience with the vendor in question. At this point the business, in this case you, will carry out its own evaluation; creating a loyal database of customers, and reflecting upon past transactions, is key to success.

So, what have you learned during the course of this blog post? Firstly, that your customers are somewhat methodical, and predictable, when it comes to their buying process. Secondly, and more seriously, that you now have a job to do; when a potential customer recognises that initial need or problem are you there to proffer a solution? During their hunt for information are you visible amongst the competition? Has your sales team been trained and prepped so that they may build relationships with customers and fulfill their initial demands? Understanding your customers’ buying process is about so much more than psychology; it’s strategy. Have you perfected yours?