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Modern day purchase funnel

My name is Mark Waymouth and I have been in marketing, one way or another all my life. I like to stay fit, love my cars, motorsport, and cooking to name a few. My passion is local businesses and even though I am digital through and through, marketing is about the right message in the right place at the right time. Competition of the products & services you sell is no longer local, it’s global. My blog post are going to outline the stages of the Modern purchase funnel which every business needs to consider. Followed by more detailed blog posts on individual parts of the purchase funnel.

Google says that for every 1 person buying a product or service there are 1000 people considering buying the same product or service.

Modern Purchase Funnel

So what is a purchase funnel? The purchase funnel is the process people go through when considering and buying products or services. Each stage of it should be covered in your marketing plan. Why would anybody want to promote a product or service only to find out after all your hard work, it was purchased elsewhere. Or maybe how do you piggyback on someone else’s marketing for your own gain? Let’s have a look the stages in a little more detail.

Pre Awareness

This is almost exclusively social media & its like the conversation you have down the pub or at work on a global scale. The conversation normally starts with “have you seen this”

Awareness

This is the where we see an official advert, TV, Radio, Press, Bus, Web, Showroom. This is where we create an want or need for this product or service. That is always easier if the customer has already been exposed to it in the pre awareness stage. which could be a friend checking in on facebook, mentioned in a tweet or even a conversation in the pub or at work.

Familiarisation

This is the stage you don’t want to miss. The customer has decided they like the sound of the product or service & wants more information. Customers perform an average of 10 searches before buying. This can be manufacturer site, review sites, independent sellers sites, a visit to a showroom talking to friends, relatives work colleagues. You have to be in it to win it, this is where your brand should be strong, you website ranking well, your PR ranking well, your previous customers singing your praises. Adword and retargeting campaign working hard. Consideration of who to buy from has just about done.

Consideration

Who am I going buy from. This stage is not just driven by price, service, reputation & location are all important. As per familiarisation you need to sell yourself, building trust & confidence through a website that represents your values & your brand.

Purchase

This is all about, access, stock and ease of purchase. Do you have parking, are you open, do you take cards offer finance? Online purchase, do they feel safe, confident in the returns procedure, the least clicks to payment the better. Don’t ask for more information than you need. You can ask for it after purchase. If they don’t complete this stage, re target. Collect data & refine the process.

Loyalty

The internet is a dangerous place to let your customers go. There is always someone looking to tempt them away. Keep in touch with customers via phone, email, social media, App or post. Getting a customer to buy from you is a huge journey if you look after them not only with it be an easy choice for them next time but more importantly how many stages of this funnel can they have an influence on others?

For every person that purchased there are 1000 more looking to purchase.

Thank you for taking the time to read my post, please feel free to share, love to know your thoughts. If you need any advice please call.

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