Digital Buying Journey
There are a number of different marketing and sales strategies that companies can use to improve their conversion rates. However, the most important one, by far, is the buying journey of the customers.
There are five different stages of the buying journey into the digital space that customers go through when they’re trying to make a purchase from a business.
Awareness Stage
The first stage in the buying journey of every customer is the awareness stage when the customer realizes that they have a problem and need to find a solution for it.
With the right marketing strategies or campaigns, companies can reach the target audience during this stage to get potential customers more familiar with the business and its solutions.
For instance, if a potential customer is trying to use less plastic, and they are looking for a water filter or a water bottle alternative, they might come across an ad for reusable water bottles.
Then, this potential customer that has a problem has looked at a potential solution to that problem, and they’re ready to go onto the next stage of the buying journey.
Consideration Stage
The second stage of the buying journey is when the potential customer is considering all the options they have regarding making a purchase.
During this stage, companies can provide their audiences with a number of different solutions that pinpoint the issue that they’re trying to solve.
During this stage, it’s important for the product, marketing, and sales team to work together to create the right type of content for the target audience. The right type of content includes giving potential customers a lot more information to explain to them how the business and its solutions can help solve their problems.
Using the example above, when a potential customer has opened the ad and arrived at the company’s website landing page the business can list all of the benefits that the customer will get from purchasing a reusable water bottle, such as the environmental impact.
When the potential customer finally understands that it’s the company’s product that can truly solve their problem, they’re ready to move on to the next stage of the buying journey.
Intent Stage
During the intent stage of the buying journey, it’s time for the company to start building up a trusting relationship with potential customers.
That means convincing potential customers that the company’s solution is the best possible solution for their pain points or problems.
This is achieved through social media campaigns that develop the relationship with potential customers, showing them reviews from past customers, and highlights that showcase the benefits they will receive from using the product.
Purchase Stage
At the purchase stage of the buying journey, the potential customer is finally ready to make a purchase from the business.
To get them to convert, companies need to ensure that the price they offer for their solutions is reasonable and that the entire purchasing process is as simple as possible.
However, this isn’t the last stage of the buying journey, because every company should strive to have repeat customers. That means maintaining the relationship with that customer to ensure that they will return in the future.
Renewal Stage
The last stage of the buying journey is when a company tries to convince past customers to continue building a relationship with the business, remain inside the buying journey, and continuously purchase the company’s solutions over a long period of time.
To generate more repeat customers, companies need to ensure that each customer is satisfied and happy with the business and its solutions. The best way to figure that out is to ask past customers for reviews or feedback on the purchasing process.
Co-CEO at 5W Public Relations, Dara Busch oversees 5W’s Consumer PR Practice, which includes Travel & Entertainment, Apparel & Accessories, Non-Profits, Home & Housewares, Health & Wellness, Mom & Baby, Beauty & Grooming, and Consumer Packaged Goods.