Saturday, October 21st, 2017

Buyer Mindset Mastery, 3 Phases Leading To Purchase

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Buyer Mindset Mastery, 3 Phases Leading To Purchase

Superaffiliate Program Content: Consumer Purchasing Lifecycle
Source: Wealthy Affiliate University
From The Desk Of: Barbara Brinkmeyer

Welcome Fellow Online Entrepreneurs!

In this post, I talk about understanding how your target audience precisely thinks to that you can directly aim your messages at your most willing buyers. Miss any steps in the purchasing lifecycle and you’ll most likely target people at starter phases of their research. Know what they buy and when they buy it, and you’ll hit them at “just the right time”!

If you’ve been online surfing for the perfect answer to solve all of your business problems, I will be the first to tell you that online gurus will try to sell you everything under the marketing sun!

What I often tell people is to put their credit cards on ice. The last thing they need to do it head out on the open Internet range by spending every last nickel they own on miscellaneous marketing tools designed to do one thing — confuse them and make them broke.

The truth is — you don’t have to buy everything. In fact, many things can be found for FREE!

To start you on the right track, I’d like to ask you for some of your time.

Have you ever thought about these main challenges most new business owners face online?

1) They spend themselves into debt before they know what’s involved to make a decent profit?

2) They get so confused that they often quit! It’s no fun seeing this happen.., all to frequently.

3) They spin their wheels not knowing which direction will work for them?

I will be the first to tell you that there’s a lot of information involved in setting up a campaign that will be profitable.

To let you in on some superaffiliate content you can sample ahead of time, to begin the Oct. 27, 2010 Facebook marketing group by starting with the consumer purchasing life cycle. This is something I teach all of my superaffiliates! Tomorrow’s post will cover TIME MANAGEMENT in online marketing so please stay tuned!

Enjoy!

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Consumer Purchasing Life Cycle

Before you decide which selling course to take online, you need to first determine who your customer is. This is important so that you’ll know precisely what they purchase, realize what they pay for the things they buy, and identify exactly why they are purchasing what they’re purchasing.

Miss this boat and you’ll spend major time, effort, and $$ needlessly!

One of the most common mistakes I see people make online (and offline) is promoting to a customer or audience before they entirely understand who their target audience is. It is very easy to waste money promoting what you “think” people want, rather than knowing what they are actually looking for.

Before I go any further, it’s important that you understand the steps a consumer takes between the time they learn about a product or service…to the time that they actually make a purchase.

It is a known fact that it typically takes a person 7 times (this could be website visits, email newsletter, blog readings, etc.) before they make a purchase online.
I am going to show you how to catch people later in their buying cycle so you can increase your chances of someone buying from your website or blog!
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Purchasing Phases

Research Phase -> Decision Phase -> Purchasing Phase

(1) Research Phase

People love to learn before they buy, so they’re naturally hungry for information detailing the benefits on some product/service they may want to purchase.
Although some purchasing decisions are more spontaneous than others, people usually learn about a product long before they purchase it, and this “learning” is done by using many mediums.

These mediums can include television, Internet, magazines, friend referrals, celebrity reviews, roadside billboards and more.

People naturally gravitate online to complete their research because cyberspace is now known as the “information highway”.

You can find information on anything by using a simple search at Google.

This is the most common reason why a majority of the research is done on the net. It’s easy, fast, and private.

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(2) Decision Phase

Some people have already made up their mind as to what product they are going to buy, and they want it NOW.

While others go through a decision phase longer than some, they will research a number of products/services to ultimately decide which one best suits them best.

Someone’s decision can be easily persuaded by reviews and personalized opinions of others.

This is where a good Internet marketer can intercept an individual, showcase certain products that are similar, and deliver a convincing review to promote a decision.

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(3) Purchasing/Action Phase

The final phase of a search is the one that is profitable to us as Internet marketers.

No commissions are paid unless there is an action that takes place!

Whether this is a click, a lead, or a sale, or a visitor…it needs a customer to fulfill the life cycle by clicking, submitting their content on a website or a blog, buying something, or clicking and viewing a link you want them to see.

It’s at this point where many Internet marketers forget to invest in people.

Because we’re online, we’re still in a people business. No matter what other marketers tell you, you still have to spend some time with people before they’re really going to trust you — let alone buy from you.

If you withdraw from their “emotional bank accounts” (Marshall, P., 2010)…, faster than you contribute to their emotions, you will experience high drop out rates.

But…, during the purchasing phase, it is very difficult to detour someone from making their final purchasing decision.

They have done their research…, made the decision, and they are now are fully prepared to buy.

In an ideal world, you would be able to target all of the people appearing at this point within this search phase, most often…, research and searching is complete at this point.

An example of a search term that would target people in this phrase would be “purchase product_name, order product_name, buy product_name”.

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Misconceptions of Advertisers

If you are trying to sell golf clubs online and you want to deliver traffic coming from general keywords like “golf” (words someone enters into Google search)… or if you want to leverage a particular keyword phrase in your campaign like “golf clubs”, chances are you will not have a high conversion rate.

The reason is — “golf clubs” won’t convert because you’re picking up this visitor very early…OK…far too early inside of their purchasing life cycle. At this point, they are typically looking for information about golf clubs. They are not looking to buy, and will usually perform several more searches before they do decide to make a purchasing decision..

Let’s get into purchasing psychology a bit further by asking yourself, “What happens if I catch someone a little further along in the purchasing lifecycle”? We know they’re further along in their research. They’ve made product comparisions. They’ve probably read a few reviews by now and they’re ready to make a purchasing decision.

We now know that “golf” & “golf clubs” as an online search phrase won’t convert very high. After visiting a few forums, you can easily discover that people are searching for irons, putters, drivers, wedges, or specialized clubs. So, chances are that the keyword “golf clubs” (although seemingly targeted) is actually far too broad.

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Think In Terms of Actual Products And Brands

If you start promoting here at this point in a campaign, it will take a lot more work to actually sell than if you were to dig a little deeper into the golf clubs people buy — drivers, wedges, irons, and putters. These descriptors are still too broad and people want to learn more about brand names, types, loft, and reviews before they make a purchase.

Ideally speaking…, you would hyper-target someone who types in Taylor Made r5 Driver, or hyper-target (using a laser beam, targeted ad that’s very focused) someone who is searching for a 56 degree Cleveland Gap Wedge. People that are searching these terms are SERIOUS buyers…and they are on the edge of transitioning between research and actual purchasing.

It is much more work to walk someone through all the stages of the life-cycle, and so …it typically requires several follow-ups.

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Take Advantage of Company Advertising & Branding

When you see an ad in the newspaper, on the radio, on TV, or in a magazine, you should see this as an opportunity to take full advantage of these customers online. People oftentimes learn about different products/services offline before they migrate online to do research… and quite often, make a purchase online.

People who see advertising offline are also likely to be much further along in the purchasing lifecycle. This is because they have become knowledgeable of the brand, they know what the company has to offer, and if the advertisement was effective, they may now be ready to purchase.

Another effective method of using company advertising is to use infomercial’s to your advantage.

Infomercial’s do a great job of selling, and by the time someone is done watching the show, they have made the decision whether or not to buy.

Traditionally speaking, people would make a purchase over the phone as if it were the only method of ordering. However, many now use the Internet to order infomercial products. This is a great opportunity for you to offer people searching the product keywords either the product, or a related product that will work just as good…, if not better.

To take advantage of company advertising, you have to use product-type keywords. This could include company names or the actual product names. People will be more likely to buy if they are already familiar with a brand and have seen an advertisement prior to visiting your site.

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Product-Related Keywords

Many advertisers don’t take advantage of product related keywords. When we say “product-related” we are referring to search terms that include the product name or the company name of the product that is being searched.

For example, if someone was searching the term “Wealthy Affiliate Review”, this would be a product-related keyword for Wealthy Affiliate, as would “wealthy affiliate”, “wealthy affiliate program”, etc.

People who search product-related keywords are typically very far along in the purchasing lifecycle because they are already knowledgeable in the subject area and they have already been exposed to some form of branding or advertisement.

I will use the Wealthy Affiliate University example again.

Someone who is searching the term “wealthy affiliate” has probably already done a significant amount of research.

They may have started by searching the term “affiliate marketing” and found a website promoting Wealthy Affiliate.

They then did some additional research and analysis on Internet marketing related schools to decide which program would be best suited for them.

Finally, they search the program they are interested in joining, Wealthy Affiliate.

It’s the same for any other major Internet marketing guru offering an educational program. No matter who the buyer chooses, it’s up to the advertiser to know what these phases of research entail.

As you can see, people who are searching product-related keywords are usually on the verge of becoming a customer.

If you can deliver the information that they are looking to find (the program is excellent; the program is good, however check out this better alternative), then you will convert that person into a buyer.

If you are marketing network marketing, it is the same principle. Know and define the consumer purchasing lifecycle phases by research terms at the beginning, middle and end of that search leading to buy. Then offer a review talking about what’s great out there (leave out company names and offer specific recommendations about the herbs or plants that deliver huge benefits)…and offer your product, telling people why your juice delivers every benefit they’re looking for on 1 fell swoop of a drink.

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What is Your Purchasing Lifecycle?

How to peer into the mind of your target audience.

I going to ask you to get involved in this exercise to see what I’m saying directly.

Doing this (no matter how much time, research, and effort will pay off). Miss the boat and assume you know what people want — they’ll go elsewhere.

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Here’s The Mind Map

Take a look at the last purchase you made online. I want you to think in terms of what you did to embed what others do.

1) Where did you start and where did you end up?
2) Did you purchase the same day that you started looking, and why or why not?
3) Were you exposed to positive or negative advertising about a product?
4) Did you see the product/service in a magazine or on TV before you saw it online?
5) Was the price an issue for you, why or why not?
6) What was the last phase in the analysis process before you actually purchased the product?

There are many things that you can learn from taking a look at how you purchase something online.

You probably follow many of the steps that your visitors take when purchasing.

Master this part and you have your smaller buying group (sub-niche) down pat.
Identify the many angles at which they’ll solve “joint pain”…, list the different ways joint pain can appear:

* Is it vitamin D deficiency?…,
* Is it degeneration of the joints through a specific disease type?
* Specifically, list the number of ways something like this might happen…?

Then list how many ways symptoms appear:

* Listlessness…, pain…, stiffness.., rigidity in walking…, can’t run…, can’t handle small objects (if the pain is in the wrists or there’s pain the neck or shoulders)?

Targeting a campaign using these different marketing angles means that you’re expressing a variety of ways consumers will think. That means that you’re targeting a specific area of the body someone wants to address.

Then, you’re aligning the bennies of your product to the challenges that person faces benefit-wise as you talk about how your product will meet those needs TODAY!

The better you do this, the better you stand at meeting someone’s paid need.

You will find that if you research things slightly differently from other angles…think in terms of someone’s major pain …and note… that when it comes to making a purchase…, the last few steps in the process (before one makes a purchase) will probably reflect that same search for all customers residing in that sub-niche.

You want people to feel good about making the purchase to very same way you would want to feel.

The closer you are to matching best service with greatest need, the better you stand to gain a repeat customer.

Repeat business sits at the heart of a most successful campaigns so customer retention is a biggest thing for merchants (at least…for the ones who truly care).

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Conclusion

Understanding why people buy and knowing how to define the different steps they take before they make a purchase allows you to understand how to best and most effectively promote a product. This will also allow you to gain a better understanding in terms of how to better isolate your keywords targeting someone who is further along in the research process…most ready to buy (life cycle end).

Highly profitable marketers make loads of money because they understand the mindset of a customer. They know not only how to turn their traffic to qualified customers, but they understand how to take a visitor, walk them through the steps of the life cycle (usually through a mail-out or through a live phone teleconference) to get them to the buying phase sooner rather than later.

Learn how to master the customer purchasing life cycle, and you will be able to apply these tactics while making any industry/market profitable!

Now that you have finished working through this resource, you can add it to your folders saved on your computer.

I have massive content available for my superaffiliates. This is but one learning resource.

If you’d like to ask ANY question, I may very well have the working answer completed!

Also, please rate this resource on a scale of 1 to 5:

1 = Poor
5 = Great!

Your feedback will help me and others improve the resources offered here on my blog and accompanying websites!

Toasting Your Success Online,

Barbara Brinkmeyer, MBA

Don’t forget to check out my new blog at:

http://www.barbsinternetmarketingmastery.com/

I will present time management in the morning, October 28th, 2010 so stay tuned for more MLM/Internet Marketing help!

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