WHAT IS THE BUYING CYCLE?
The buying cycle, sometimes referred to as the “lead marketing lifecycle,” is a series of stages consumers move through when considering a purchase.
Currently, most marketers agree there are six stages in the modern-day buying cycle that a brand strategist needs to optimize if they want to increase sales and achieve a good ROI value from the leads they acquire. These stages– attract, capture, nurture, educate, convert, and expand– require different approaches, as potential customers are looking for different things in each stage. Typically, a lead will have already completed over half of these stages (about 57%) before a sales person ever speaks with them. With the internet providing instant access to competitors as well as an easily-researchable digital footprint on your brand, the average consumer has more options and information to consider than ever before. To convince them that your product or service is the best choice for them, you need to keep their interest through every stage.
Creating content that moves leads through the buying process towards your end goal (committing to purchase) is one of the best ways to leverage all six stages of the buying cycle. In all cases, the most successful marketers and sales people know that understanding their audience and addressing their specific needs at a specific time will result in a higher conversion rate. Forging real relationships with leads and customers and personalizing your message will help build your brand more quickly and less expensively than traditional one-size-fits-all approaches.