Businesses create a competitive advantage in 3 basic ways - you either have (A) - the best product, (B) - the cheapest product, or (C) - you deliver the best customer experience.
Of the three, the only way to create real long-term advantage (and blow your competition out of the water) is to know your customers better than anyone else out there - and deliver what they want and need when they want and need it.
Thanks to social media, we have better access to information that gives us a better chance to understand their needs and wants now better than ever. But what do you do with all of that information, with all of those conversations? And how do you turn a conversation on Twitter into a sale?
It's going to be different for every product, service, brand and company of course, but there is a 5-step process that every customer goes through as they're trying to make a purchasing decision.
This 5-Stage Process is called the CUSTOMER BUYING PROCESS.
(1) NEED RECOGNITION - people have to acknowledge that they have a need before they'll do anything. After customers recognize (and admit!) that they have a need, they start to
(2) SEARCH FOR INFORMATION - for solutions that are available to solve their problem. Once they've gathered information on what's out there, they'll start to actually go through that and
(3) EVALUATE THE ALTERNATIVES to determine what they think will be the best solution from them.
After that, they'll make a decision and actually (4) PURCHASE.
But, it doesn't stop there. How many times have you picked up a new pair of shoes only to return them a week later?
That's the (5) POST PURCHASE EVALUATION period and something that's so important to consider.
The point in understanding this process is to help ensure that you're making the information about your product or service AVAILABLE at all the 5 different stages.
Often times businesses focus on the stage 3 - "evaluation of the alternative" and stage 4 - "purchase decision" points only. But, if you're never showing up when people are in stage 2 - "information seek" mode, you'll NEVER be on their radar - but your competitors may be!
That's why employing an SEO and social media strategy is so important and empowering for your brand. It will force you to create valuable content based on the information they need to support their decision to ultimately buy from YOU.
To learn more about getting exposure for your business + leveraging the internet to increase your reach + revenues, schedule a free consultation with Like a Celebrity or call (917) 512-6192.