Do you feel prepared to create a marketing strategy?
Successful marketing strategies are built on a firm understanding of the Customer Buying Cycle and a clearly defined target market.
Here’s the info you’ll need to get that project off the ground.
Just who exactly are you aiming for?
While it would be ideal, not every potential customer will be a suitable fit for your product or service. To be successful, you must zero in on the specific subset of the population most likely to value your product or service and get as much information as possible about them. Answers to questions like “Who are they?” “where do they live?” “What is the ‘pain’ they’re trying to solve?” and “How do they shop” might help you better understand your target audience. The backbone of any successful marketing strategy is a clearly defined target market.
Where do they usually shop?
After settling on a specific demographic to sell to, the next step is to learn what factors impact their purchasing decisions.
When deciding to buy something, people often go through six different phases. Some of these actions may be performed automatically when making a relatively essential purchase (like a magazine subscription or a new pair of shoes). More considerable assets (such as a car or a house) may necessitate additional time and consideration on the buyer’s part.
Customers, no matter how much they are spending, go through the same steps in the buying process: learn about, like, prefer, commit to, and finally buy. These crucial stages each have their characteristics and must not be skipped.
Successful marketers strive to get their messages in front of their ideal customers, who will then act to achieve the desired outcome. Customers who are pleased with the service they receive are more likely to continue using it and recommend it to others. Your plan should include actions that direct potential buyers through the purchasing process and into a successful close.
The concept, objectives, and strategies of marketing change with each step. We define the term, discuss the goals of both the target audience and the marketer, and outline common steps.
We’ll use the car purchasing process as an example of each step. Realize that the same cycle and stages would apply if you buy a service instead of a product.
Phase 1: Being Aware
Meaning: to become aware of something or someone
Target Audience Objective
The target audience becomes aware of a problem in the Awareness phase. The customer needs a solution to their transportation issue, such as purchasing a car. They will consider alternatives such as taking public transportation, joining a carpool, or purchasing a vehicle. They should learn about their various transportation choices, such as available automobile manufacturers.
The Marketer’s Objective
As a marketer, you need to get your name out there and grab people’s attention so that they consider you while looking for a solution to a problem. You need to introduce your potential customers to who you are and what you have to offer. To convince a customer to buy one of your automobiles, you must first convince them that your cars are of high quality. The objective is to pique the customer’s interest enough that they actively seek more details about your offering.
Common Routines
Standard promotion methods include placing ads in print and broadcast media, handing out flyers and brochures, and launching a website.
Two, Acquiring New Information
“knowledge” is “a collection of facts accumulated over time.”
Target Audience Objective
In this case, the intended audience wants to learn more about the available choices. To narrow down the options, they will collect data. Using cars as an example, they might look for information about automakers in various media such as brochures, websites, publications, and auto fairs.
The Marketer’s Objective
The marketer’s job is to ensure prospective clients can quickly obtain all the necessary information. In the automotive industry, for instance, the goal is to reach your audience where they are already spending time (at dealerships, on the web, at exhibitions, in in-depth print ads, and reviews).
Common Routines
You need things to do that will let you explain your product in greater depth. Direct mail packages, brochures, and advertisements that include product details or user examples effectively disseminate information.
Third-Phase Affection
Having or characterized by the same qualities; equivalent; satisfying
Target Audience Objective
The market has collected data on various possibilities and must now choose which ones to pursue further and which to discard. They are prepared to take a test drive, read an existing customer’s testimonial, or peruse a car magazine’s in-depth product comparison.
The Marketer’s Objective
A marketer’s job is straightforward: make people want to buy the goods. You should make plans to do things that will improve your standing with the possible client. To sell cars, for instance, you must complete the customer feel good about their time spent in the showroom or reading about the brand in print.
Common Routines
Getting a potential consumer to like your solution can be accomplished through customer referrals, telemarketing, a demo, or a test drive.
Final Choice Stage
selection, in the sense of favoring one thing over another, is defined as
Target Audience Objective
The market must now choose the best choice from those that have been narrowed down. They’re still researching and might even ask their loved ones for advice. In our automobile example, people might take another test drive with relatives or begin to compare more nuanced factors, such as price or safety ratings.
The Marketer’s Objective
The marketer’s job is to convince potential customers to pick his product or service over the alternatives. Remember what your target market values most, and emphasize how you deliver on their needs. You probably already know that your target market places a high value on security and affordability in the case of automobiles. You must emphasize your strengths and show where you excel above the competition.
Common Routines
To help the market settle on a final decision, marketers might employ techniques such as customer testimonials, price comparisons, usability comparisons, and limited-time incentives. Pricing and discounts are two tools that could influence consumer tastes in the car market.
Commitment, Phase 5
To commit; to commit oneself to; to pledge
Target Audience Objective
At this point, the intended audience must settle on a final option. They may reevaluate the data they’ve gathered and seek support to solidify their choice. The planned buyer is prepared to take the next step, whether that’s inquiring about a contract, purchasing alternatives, or incentives, taking the product to the register, or making a purchase through an electronic medium.
The Marketer’s Objective
The contract can be closed quickly and easily for the consumer if you have a channel prepared to help facilitate the commitment at this stage. Establishing and keeping the proper channels supplied with products and designed to fulfill orders smoothly is crucial to a fruitful shopping experience. Educating the sales staff and the media (such as dealers) is integral to any intelligent marketer’s strategy. Financing options, competitive pricing, and a solid warranty all play a role in securing a customer’s purchase intent in our vehicle scenario.
Common Routines
Some examples of marketing initiatives are sales incentives, customer service training, and sales training.
The Buying/Selling/Loyalty Phase
To “buy” anything means to “acquire” something in return for money or belief.
Target Audience Objective
The objective is to acquire the desired alternative. They are ready to settle on a choice and part with cash in exchange for your offer. They wish to place an order, pay for it, and then leave with the product immediately after signing the contract or purchase order. They’ve been born in full and are ready to deliver their brand-new car.
The Marketer’s Objective
The marketer has two objectives: bring in new customers and keep the ones they already have. Customers should feel good about their purchases from you, depart happily, and feel like coming back or recommending you to others. In the context of a car purchase, this could include offering fewer forms to fill out, negotiating a discount on services, or sending a handwritten note of appreciation.
Common Routines
The consumer market is likelier to buy if the process is simple. Activities like a repeat or referral incentive, simple access to service, an online support group, or a newsletter are also valuable after a purchase. This will assist in maintaining interest and satisfaction among your clientele.
Buying Process in a Nutshell
A good marketing plan with relevant activities can be developed by zeroing in on a specific target market and tracking its progress through the Awareness to Buy Cycle. Both the phases and the process are real and significant factors in the final decision made by the customer.
In our eagerness to reach our goal, we may try to cut corners by making erroneous assumptions about our intended audience. This almost always causes delays, extra costs, and additional work to be done. A successful marketing strategy, happy customers, and a healthy return on investment (ROI) are the rewards for putting in the time and effort required to think through and plan these things.
In the next part of this series, we’ll discuss how to zero in on your ideal clientele. Subsequent articles will go into further depth, covering one step of the Awareness to Buy Cycle at a time.
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