Understanding A Customer’s Buying Cycle

  • By Team Mosspaper
  • 17 Feb, 2016

From the time you first contact a prospective client to the time you seal the deal, each step of the process fits into what is known as the customer’s buying cycle. This refers to the phases they go through when determining who they will select to perform a job or service for them. There are roughly three stages that customers go through: awareness, interest and purchase. Awareness is when they have only just begun to understand who you are and what you offer. Interest is when the customer has become informed of what you offer, and expresses a tentative desire to purchase from you. Purchase describes the final stages of a customer’s interest; it is the point where they are evaluating your prices and offerings. This is the phase where you give them a direct sales pitch.

When attracting customers to your business, you want to make sure that your advertisements and sales pitches are targeted to their mentality at the time. The following three steps will show you how to approach your customer’s buying cycle, so that you maximize the chance of securing them as a client.

1) Gather your customer’s requirements and needs

Every customer’s needs are different and unique to them. As such, never take a one-size-fits-all approach to dealing with your customers. Take the time to reach out to them and understand the specific nature of the products or service they require. When you are presenting them with a prospective offer, ask questions that pertain to their needs. This will prove invaluable in giving you the knowledge and understanding of what exactly they are looking for. Even if your customers do not buy from you initially, getting to know and understand their needs will encourage them to cultivate a relationship with you; this can eventually lead to that person becoming a repeat customer.

Presenting an attractive deal to a customer can only be done if you took the time to understand what it is they were looking for in the first place. When you present the offer to your client, you will have the opportunity to show them why you are best suited for the job and how you can solve their unique challenges and problems. Gathering this information beforehand is crucial to presenting them with the best offer, and potentially moving a customer past the “awareness” stage.

2) Agree on what products and services will be provided

This is a crucial part of the buying cycle. Not only will it determine what the final price quote will be, but this will help the customer decide if what you are offering is right for them. Once you have a customer interested in your product or service, they will want to know what you are offering them. This is where you can truly stand out from your competitors. You have the opportunity to present them with a list of services and products that reflects the specific nature of the job they need done, rather than just giving them a generic list of services that would be sent to every prospective client. Companies often make use of “triggers” in this phase of the buying cycle. A trigger is an event that pushes a customer’s want to a need. Since they have already expressed an interest in what you have to offer or say, you have the opportunity to tailor your offerings to these wants and make them feel as though they need to buy from you. If you follow step one in the buying cycle, you will have a good understanding of what triggers your prospective clients and customers will be receptive to.

3) Create a value-based quote

A value-based quote is the best way of generating a price quote for your customer. It focuses more on the value that you are bringing to a client, rather than just focusing on the dollar and material cost of the products or services you intend to provide. Put another way, it reframes the issue: rather than reminding the customer of how much money you are costing them, instead you show them the value proposition and savings you bring to their business. The point isn’t to avoid showing them the costs of your services and products, but rather it doesn’t make it the central focus. Brevity is important. It’s not good to go into a pages-long list of reasons as to why you are the best candidate for the job, or you will lose their interest. You want to hold their interest while still providing a convincing reason as to why you should be selected over everybody else. This concept is not unlike that of creating a resume. Only towards the end should you place the estimates of the costs and time needed.

Creating a value-based quote for your potential customer is the final touch in courting them – it gives them one last reason to choose you and serves as a final reinforcement of the idea that you are the best person for the job. You want your customer to leave your sales pitch with a good aftertaste, and creating a value-based quote is an excellent way to leave them with a positive message and a touch of professionalism.

Understanding the buying cycle of your customers will give you the power and knowledge you need to court them at every step of the way. The approach you will use for a customer who is only just becoming aware of your product or service will be different than the one used to court a customer who has expressed an interest in buying from you. Knowing how to leverage the mindsets they have at each point in the cycle will help you turn potential clients into repeat customers.


Mosspaper Blog

By Team Mosspaper 26 Jun, 2017

With so many online resources, yоur customers has a lot of information about your business before they decide to become your customer. It can be a lengthy process and a bit more complex than ѕіmрlу saying; "I need tо purchase something and I know precisely from who". 

The customer buying cycle is defined in 3 steps. First, you have awareness which can be described as the moment the customer sees your product while there is a need for it. Second, there is moment of consideration where they are evaluating your product or services for a possible purchase. Lastly, the final step is purchase, where the buyer makes a purchase.


Here are some ways to market to these buyers:

1) Awareness

Having an online presence such as a website that describes your product and services will help your buyer find you. It’s always good to have testimonials to provide credibility as well as recommendations through sites such as yelp or google business.


2) Consideration

When your customer has found you,  it’s best to introduce your product as a solution to a problem the buyer may be having. The buyer is trying to see if your offering can meet their challenges and how you will be doing it.


Having a quote or contract that describes your methodology with a breakdown of costs associated with how you will be address their needs will be beneficial at this stage. describe the value the buyer will be receiving if they choose you as a vendor and include reviews or customer references.  


3) Purchase

The buyer is ready to be your customer. If the customer requires more time, you should consider giving them a discount or coupons.  Having a simply way for them to agree to your terms through electronic signature and payments will be helpful to ensure you close the deal quickly.

By Team Mosspaper 14 Jun, 2017

Successful businesses maintain good habits and it is one of the reasons why they managed to be where they are now. Habits they have picked along the way, such as good   contract management , has helped them get to where they are at the moment and take their business to the next level. The bad news is that there are small businesses that don’t have any good habits at all. The good news is that they can start changing their attitude and practices in order to develop good habits.

 

In a highly competitive landscape, it’s important and vital to make sure you ensure good habits are enforced so your business continues to thrive. Here are some good habits that can help small businesses include:

 

1)   Focusing Your energy

To ensure you utilize every minute and hour of each day, it’s important to learn how to focus on the most rewarding tasks. Take care of the low hanging fruits first. Review your list of things to do and evaluate which task you can do now that will bring forth the most value to your customers and team. Give each task a percentage of impact and ask yourself what are the top 3 things I can do that will benefit my business the most.

 

2)   Prioritize

Ask yourself what is the most important thing you need to do today in order to set a foundation for your business. It’s always important to think about how something can help you to increase revenue or reduce your operating cost. The vital part of any business to knowing when you should create a strategy for long term goals while balancing short term objectives. Most businesses have 3-5 simple objectives they want to accomplish each quarter. Everything else you do should coincide with those objectives. Never lose sight of the goals you have set out for yourself. Once you have a goal in place, work each day to get closer to those goals.

 

Having ways to measure performance or data analytics in your business helps you prioritize your business. Based on that data, you can start to formulate patterns and understand what works and what doesn’t. Focus on what works and continue to improve business workflow to ensure your success.

 

3)   Create Task and Execute

With each of your goals or objectives, it’s essential to follow through to ensure long-term success. Most of the time a goal has a few steps in between until it’s completed. Write it all down. Sometimes, it helps to work backwards if there are dates involved. Write down and revise as needed. With each task, you get closer and closer to where you want to be.

 

The use of software to streamline task and follow up is very useful in situations where there are a lot of repetitive, mundane work. Try to look for solutions like Mosspaper, a quote and contract management platform, to help you execute your business goals in a more orderly fashion. Mosspaper focuses on different aspects of your business such as operations, finance, and sales. With built-in workflows, it helps you consolidate the management of your team’s workload all in one platform.

 

4)   Positive Mindset

Being happy and having a positive mental outlook can help with any situation. It is always said that you don’t have control with external factors, but you do have control over how you handle situations. With positive thinking regardless of what you are going through, you will continue to work through situations and reach your goals. A great attitude for success and having gratitude can go a long way.  If you understand what you’re trying to achieve and have patience with the process, you will be ahead of the rest.

 

It’s important to have good habits to succeed as an entrepreneur or small business owner. There are many different ways to get to where you want to be. Having disciplined habits can make or break your company as you face the challenges limited time and resources on a daily basis. Working smarter is always better.


By Team Mosspaper 12 Jun, 2017

For any interior designer, being able to provide accurate and effective sales quotes to your clients can be one of the best ways to drum up recurring business. When you are able to give your clients something that they can actually understand and feel comfortable with paying, you give off a far more professional approach and style. However, being able to give quotation services that are accurate and detailed can be quite tricky, and for many interior designers it can be easier to just stick to the basics. Here are some of the best ways that you can start changing your mindset and increasing the quality of work that you provide by using a value-based quotation system.

Here are some of the best ways that you can start changing your mindset and increasing the quality of work that you provide by using a value-based quotation system.

1) Provide a Work Summary

It’s always important to make sure that your clients are able to get a summary of the upcoming job so they can always refer to what is going to be taking place. This will be a list of goals that are to be achieved throughout the process; include key benefits within the work summary and an overall price of the job as a well. Dealing with part of any quote management system can be tough for an interior designer, but looking for software packages that help you manage this – for example, we recommend checking out Mosspaper – can be a massively beneficial way to keep things flowing.

 

2) Include Suggestions

One thing that always helps your clients out is to give them easy feedback and suggestions as to what they could improve moving forward; by having this within the quotation you are providing a bit more authority and helping them see things they maybe would have missed themselves. This helps to build extra trust between you both and makes your sales quotes a bit different to the rest.

 

3) Itemize Your Pricing

You need to make sure that your clients are able to see why the price is the way it is. If you can give them a fully itemized list to help them see what their money is paying for, the quote will feel far more authentic. Some designers aren’t comfortable doing this, but it’s an absolute must. Again, Mosspaper can help you do this. The administrative side of the software is excellent and will make creating references to items being used on the job so much easier.

 

4) Include Terms & Conditions

You always need to have the right legal information included with a quotation – especially in something as expensive and serious as interior design. Please make sure that your quote includes the terms and conditions section so the clients really understands what is required of them. Mosspaper can help you audit track all documents like this so you can be sure that the client reads and agrees to everything that is mention on the sales quote.

 

5) Provide References

Lastly, make sure that you provide some kind of reference to your potential client with a quote. This adds such an extra layer of value to proceedings and will really go a long way to help you become a favored option for the job. If you want to benefit from getting more work and the best kind of jobs, then working towards a value-based quotation system can be the best way to go.

 

As an small business, it's important to make sure you provide customers with the right information in an organized matter. It makes it 10 times easier on you in the end. Thus, it's imperative to provide your customer with a value-based quote when you start working with them. Professionalism, attention to detail, and thoroughness goes a long way.

By Team Mosspaper 24 May, 2017
Here are some feature highlights:

1) Favoriting

Reduce the creation time of a quote or contract by 50% with favoriting. You can now add any quote or contract to your favorites by clicking the heart icon.  Your favorites are saved to the "favorites" folder so you can easily find them again. You can categorize all your templates by creating different collections and saving as many documents as you like to be reused. 
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