Customer buying cycle: meaning, stages and benefits

Did you know that the user goes through a series of stages before deciding to buy a product or use a service? Do you know what the Customer buying cycle is?

Yes, before purchasing, the user identifies a need or problem within their customer journey, looks for a solution and compares different options.

If you want your prospects to become customers, you should take a close look at this article.

What is the customer buying cycle?

The customer buying cycle is the process that a user goes through from the moment he discovers a need or problem until he decides to buy the product that satisfies him or solves the problem.

In marketing it is also known as the “buyer journey”. It is related to the 5 states of consciousness that Eugene Schwartz describes in his book “Breakthrough Advertising”. These are the states:

• Unconsciously. The target group is not aware that they have a problem.
• The problem is known. The audience recognizes that they have a problem but doesn't know the solution.
• Aware of the solution. The public is aware that there are solutions to their problem, but does not know which products to choose.
• The product is known. The audience knows that our product is a solution to their problem, but is not convinced that it is the ideal solution.
• Supply conscious. The audience is aware that our product is the ideal solution and wants our product, but wants to negotiate the conditions, price, etc.

This cycle can be measured both offline and online, although it will always be easier to analyse the steps that the consumer goes through when moving through the online channel, since in each of the stages users have a specific type of information looking for or needing or performing various actions to move towards purchasing.

Stages of the customer buying cycle

A customer's buying cycle goes through a series of stages, usually represented in the form of an inverted pyramid. At the top of this pyramid, that is, the widest, is the first stage of the process: discovery.

discovery

In this phase, the consumer realizes that he has a problem, a deficiency, a need that needs to be solved. Then he begins to look for information to clarify his doubts and find an explanation for his situation or a solution. In many cases, this search is done through Google, so it is important to appear on the first page of the search engine, either organic or paid.

To reach these users organically, we advise you to keep a blog where you cover topics related to your business. For example, if you have a computer repair and sales business, your blog can try to answer questions like: “What can I do if my Mac won’t boot,” “Why is my computer slow,” or “The keyboard doesn’t work?” . This way, if it's a small problem, he'll solve it himself and remember your brand for future reference; if the problem is more serious, he will contact the technical service of your company or purchase the necessary equipment.

On the other hand, you can invest in advertising (both Google Ads and Facebook and Instagram Ads) to reach these users who are in the discovery phase. Following the example above, you can advertise your computer repair services.

consideration

Once the user gets past the first phase, it's time to get their attention: get them to rely on your brand to solve their problem or need. To do this, you need to offer alternatives and solutions to choose from.

In this second phase of the buying cycle, the user must evaluate the different options and choose the best one. This can depend on something as obvious as your store's location, so we recommend that you work on your local SEO and appear on Google Maps.

It's important to know exactly what your competitors are offering to give them reasons to choose your products or services. For example, you can set up a section on your website to showcase the value of your brand: what makes you different from your competitors, why should people buy from you and not them?

decision

We have reached the third and final phase of the customer buying cycle. This is the final stage where the customer goes from potential to official and the company makes a sale or contract.

This decision does not have to be made in a completely linear process. The ZMOT or “Zero Moment of Truth” is present throughout the entire buying cycle and refers to the need to be present and provide users with valuable content so that they find us and rate us positively. The ZMOT has more weight in the consideration and decision phase as it allows the user to compare other users' opinions about products and brands and form a positive or negative opinion before experiencing the brand.

In the so-called decision phase, certain things must be taken into account so that the customer does not back out at the last moment.

It is very important that the process is as simple as possible.

At the moment before the customer abandons the purchase or service, it is good to offer gifts, offers, benefits or similar promotions that make the customer happy with their decision.

If the purchase has been programmed so that it can be completed in a few steps, the website does not have any technical problems and the customer is presented with all possible options, the process has been successful and the customer's purchase cycle is completed satisfactorily.

What content should you offer at each stage of the customer buying cycle?

These are the contents you should offer your audience at each of the corresponding stages:

In the discovery phase

If we assume that a user is in the discovery phase, we need to give them as much information as possible to make them aware of their situation or problem. To do this, we recommend writing content that is based on problem finding, e.g. B. on the blog or on YouTube.

Guides, ebooks, and other downloadable content that delve deeper into the pain point and serve to convert these users into leads also work very well. At this stage, you should not talk about the company or its products, but it is advisable to convey knowledge to the user in a simple way.

In the consideration phase

In the consideration phase, we can mention our solution, address the benefits the user would receive, and try to eliminate the customer's problems. This is the right time to highlight the value proposition and explain why the customer should choose your product over the competition.

Comparative content, product samples, demos, tutorials and instructions are very suitable. We also recommend email marketing and sending in-depth content such as videos or webinars to users who have already been identified as leads.

In the customer decision phase

The decision phase is the purely commercial phase, since in this phase users have already decided to look for a solution to their problem and your company is one of the options they are considering. You can offer them product samples, success stories, free trials, discounts and offers…

But what arguments can you make to show that you are the best option? This is where the competitive strategy of the brand, product or service comes into play.

You can compete on price or you can compete on differentiation. The first option is dangerous because there will always be someone who can do it cheaper than you. Given two equivalent solutions, the user will choose the cheaper one.

However, let's say you're trying to provide value to the user. In this case, you take into account what aspects your buyer persona values ​​most (e.g. customer service, personal attention, location, etc.), you try to be different and unique, and the user will choose your solution without hesitation.

Can the user interrupt the buying cycle?

Even though these are the stages of the buying cycle, you should know that the consumer can interrupt it at any time.

To avoid this, we recommend that you monitor these stages, analyse your strategies and optimize your messaging according to the stage of the buying cycle your users are in. You can do this with the help of marketing automation tools.

Why you need to know the customer buying cycle

A clearly defined buyer's journey that users follow until they become customers allows you to improve the overall experience with the brand, create the most appropriate content and messaging for each moment, and improve business results in the long term. It also helps you generate interest in your products or services and even create a need for them.

It is important that you analyse and understand your ideal customer to better plan your sales and marketing strategy.

With QuestionPro CX You can connect with your customer and empathize with their concerns and motivations.

This is also important for conversion and loyalty. You need to analyse the points that fail during the purchasing process and what improvements can be made to ensure that as many users as possible complete a purchase.

Measuring all of these factors allows you to make decisions based on facts. Assumptions and intuition rarely work in marketing and sales.

Ultimately, understanding the customer buying cycle will help you significantly increase your company's sales. And you, have you identified the needs or problems that might drive your buyer persona to buy your products or use your services?

Start tracking your customer journey. QuestionPro offers some of the most advanced customer experience tools on the market. Gain valuable insight into your customers' thoughts and feelings by using QuestionPro CX today.

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KEYWORDS OF THIS BLOG POST

Customer buying cycle | Buying cycle  | Customer