As a retail consultant, I've examined how your customer's buying cycle is predictable. As the economy has gotten stronger, I've been called on to share the Bob Phibbs Experience with more luxury brands with average tickets in the thousands.
Why is that?
Because many were frustrated with the "old school" selling about manipulation and maneuvers.
Many brands and businesses cling to these sales tactics because they haven't explored their buying cycle.
Not sure what one is? Here's your primer.
A Retail Customer's Four Stage Buying Cycle
When I am called on as a retail consultant to do business makeovers, I explain the four stages of a customer buying cycle:
- Critical Parent
- Joy of Purchase
A customer say - you, sees an ad for a beautiful diamond watch, a product in a movie, a leather jacket on someone's back, a motorcycle racing past you, or a cool HDTV adorning someone's living room .
Never forget that was their original feeling about the product or service...child-like wonder.
Next they let that hunter-gatherer come out to find what they are looking for. In the old days they might shop several stores to find that item or something that would do the same job. Nowadays they probably start with the computer or smartphone. This is simply the "looking" stage.
Next comes their critical parent stage that, once they find the item or one like it, comes forward to say all the critical/analytical questions. I call it the Aunt Jean phase where the subconscious asks, "Can you trust this person?" "Can you afford this?" "Will it do what you want?" "Is there a cheaper deal?" and the kicker, "Be careful -you don't want to be taken advantage of."
Finally comes the joy of purchase. If you have a great sales team, they are carefuly trained to heighten the child-like wonder and lessen the Aunt Jean voice. The customer leaves happy they have what they were looking for and tells their friends about it.
Tomorrow: what price can lead to in the sales cycle....