Direct sales and marketing firm Source Marketing Direct has published a valuable guide for new entrepreneurs that outlines how consumers determine which products or services they choose to buy.
Research confirms that consumers’ buying decisions are not random. Inspired by an article published on Business2Community.com, Source Marketing Direct unveils a guide for new entrepreneurs to help them understand peoples’ buying decisions. Hector Montalvo, Managing Director of Source Marketing Direct, explains: “We believe that the buying process consists of six different steps. Identifying these steps allows businesses to market their products and services more effectively and overall achieve better results.”
Step 1. Problem Recognition
In order to make a buying decision a customer must identify that there is a problem, a reason or desire that is different from the current situation. Source Marketing Direct says that marketers must create an opportunity to get the consumer to start the buying process by creating a need for the purchase. This could consist of sharing facts about what they offer and comments from testimonials.
Step 2. Information Search
Once a consumer has recognised the problem, the search starts. “Nowadays, people have plenty of options available and select carefully who to buy from,” says Hector Montalvo of Source Marketing Direct. “They will check out your website, compare reviews and service delivery,” adds Hector Montalvo. He insists that businesses must be on top of their marketing and remain consistent throughout all channels.
Step 3. Evaluation of Alternatives
Today’s customers want value for money and make business with a trusted brand. Source Marketing Direct emphasises that businesses must be transparent, honest and show they care to create the foundation of building long-lasting relationships with consumers.
Step 4. Purchase Decisions
At this point, the customer has evaluated several options and understands the product or service, pricing and payment options. Source Marketing Direct says that once a consumer has decided to purchase from a specific brand, it is crucial to convert this into a sale. “Support the customer through the process and reinforce why you are the best one to make business with,” explains Hector Montalvo of Source Marketing Direct.
Step 5. Purchase
It is important that the buying process runs smoothly to secure the sale. Source Marketing Direct encourages businesses to test their buying processes on a regular basis, no matter what channel: online purchase, in-store, at events or with a sales representative. “Make it as easy as possible for them,” says Hector Montalvo. “You don’t want to lose a customer at this stage. Instead make them loyal to your brand.”
Step 6. Post-purchase Evaluation
Source Marketing Direct underlines the importance of this stage. The buying process does not end with the purchase but with the assurance that the customer is happy. “It is absolutely crucial to follow up with every customer after the purchase. This is a great opportunity to enhance the customer experience and strengthen the relationship,” says Hector Montalvo of Source Marketing Direct. “If the customer is not satisfied, then this is your chance to make it right,” continues Hector Montalvo.
Based in London, Source Marketing Direct is a leading customer acquisition company that provides effective sales and marketing solutions for their clients. The firm uses the six-step consumer buying process to help tailor their clients’ campaigns to a specific target audience. With years of experience, Source Marketing Direct is committed to supporting new entrepreneurs and has therefore put together their beginner’s guide to explain the consumer buying process that has helped them increase their clients’ sales over and over again.