The Three Steps of the Customer Buying Cycle
Ask of their opinions, most people would describe business transactions as just simple processes. They probably do not think that much work goes into buying and selling. However, this assumption is far from the truth and business owners understand this too well. It is not enough for a customer to show interest in a particular product. By the time a sale is closed, several steps are to be followed and both the seller and the buyer are equally involved. For starters, the following are the three phases involved in the buying process:
Potential customers will not come to you if they do not think or know that you have anything of interest to them. This is the one fact that necessitates awareness. You will need to first identify your target market and know where to find them. After this, strategize on how to get their attention and convert them to potential customers who will finally by the form you.
In this phase, the customer has been made aware of your product and has come to you as a sign of showing interest. At this stage, customers do not yet give any commitment to buy but you can seize the opportunity and cause them to commit. If your products and service impress them more than your competitors’, then they can end up buying from you.
This is the phase where the customers are now ready to make actual purchases after making their final evaluation. At this point, there is almost a guarantee that the sale will be made even though the customer can still back-off. The sales team should put maximum effort to serve the potential buyer and help them through the negotiation process. The level of persuasiveness determines whether or not the customer will finally buy.
As an ActionCOACH and member of the International Coaching Federation, Mark has tools, resources and accreditation’s, which have enabled him1 to transform over 100 businesses and business owners’ lives including achieving an average of 50% growth in both revenue and profitability while creating an improved work life balance.
Through our one to one programs I will help you create a plan, actions and time lines and hold you accountable to them, along with helping you to develop the necessary business skills
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