Know Your Customer:
The buying cycle acts as a check list in order to define where your customers stand, what sorts of options they might be looking at – which could be your competition, and how you need to understand their position to target them efficiently, as opposed to the hit-and-miss style of trial and error.
So what are the questions you need to be asking? Here is a list:
- Problem faced and previous solutions
First you need to understand what their problem or need is. Then remind yourself that your potential customer may not necessarily be experiencing the need to a particular solution for the first time. Understanding what solutions they have tried and why it worked or didn’t will help you position yourself accurately.
This helps you get a grasp of who you are dealing with, their behavioural and psychological characteristics, and from what angle they can be reached out to.
- Who makes decisions – This person may not always be the purchasing party but they directly influence the client’s choice. They need more convincing than the person who might want your product.
- Earning & spending capacity
This might seem like a subsidiary point to demographics but earns the right to stand out as a separate pointer because without moolah your marketing persistence is moot.
What do you do?
To put it simply, once you know the buying cycle and your customer parenthesis, you put the two together to easily channel people down the marketing funnel with properly tailored material that is well aimed at each category.
- You understand how not to price yourself out of the market
- You pare off extraneous material and, thereby, expenses
- You leverage the stages of buying
- You create stellar marketing material tailored to catch your audience at the right junctions
- You create FOMO (fear of missing out)
Logically speaking, once you know your customer’s buying patterns, you just need to fit your designs.