+=+=+=+= SIM's INSIDER REPORT =+=+=+=+
September 23, 2003
SIM's INSIDER REPORT is a free bi-monthly newsletter dedicated to helping readers succeed online while saving both time and money with cutting-edge tools, tips and strategies for internet marketing, online advertising and website promotion.
IN THIS ISSUE
==> Tip of the Week
==> Tips, Tools & Resources
==> SIM's Weekly Reports
==> Feedback & Contributions
==> Food for Thought
A warm WELCOME! to all new subscribers!
TIP OF THE WEEK
Understanding the Buying Process Can Increase Your Sales
Most marketers don't give a lot of thought to the buying processes of their customers. That's a shame. Lending due attention to the buying process can have a dramatic effect on your sales.
What is the buying process? Where does your customer fall within it? How can you use it to help bring your customer to the point-of-purchase? Follow me as we take a look at the decisions customers must make before deciding to buy.
Each and every one of us goes through some sort of buying process when we make a purchase. At times the process is long and labored - as when buying a new computer. At other moments it happens almost without thought - when buying a box of your favorite cereal, for instance. But make no mistake. it does happen.
Generally speaking, the buying process consists of five steps. Those products/services that are new to the market, are new to your customer, or are very expensive will require a longer period of consideration in each phase. Products/services that are familiar, that have market longevity, or that cost very little will require a shorter (even instantaneous) process.
Step One - Need/Want Recognition
During this step, buyers realize they want or need something. They recognize that they have a problem or a desire, and they choose to find a solution. If this need or want is something along the lines of lunch, the buying decision can be made relatively quickly, without much thought of the actual buying process. Hunger is a quick problem to solve, most options are familiar to buyers, and the cost is usually low.
If the need or want is a new car, however, the actual buying decision can take weeks or months. There is a greater risk, new models and features come out all the time, the cost is high, and the possibility of making a "mistake" when buying is great.
Step Two - Information Search
Once the choice has been made to fill a need or want, your customer begins to search for information in order to make a quality decision that is in his/her best interest.
Web sites may be visited (in which case you should offer some way for the customer to remember you, such as printable versions of information, downloadable brochures and catalogs, a way to bookmark your site, etc.). Brochures may be gathered (be sure to offer your contact information). Phone calls might be placed (check to ensure you or your call staff has the information they need to answer questions). Free samples, test drives, and other means of "trial" work wonderfully to guide your customer through the information search stage and onto the evaluation and purchase stages.
Step Three - Evaluation
After your customers have collected all the information they feel is necessary, they begin to evaluate their options and narrow their choices until they finally pick the one thing that they are comfortable with, and that they can afford.
This is the time to follow-up with your customers. Is there additional information they need in order to choose? Did they have problems with the free sample that can be corrected?
Your "presence" during the evaluation stage is important, so do your best to retain customer contact information in order to "gently" offer any additional details the buyer might need. (Nobody likes a hard sell, or to be pushed into buying.)
Step Four - Purchase
Once all the information has been evaluated, a purchase is made, and your customer walks away happy. right? Well. not always.
Step Five - Cognitive Dissonance (Post Purchase Anxiety)
While customers may have thought they chose the best solution when they purchased, many times customers later experience cognitive dissonance, a.k.a. buyers' regret. They second guess their decision and begin to feel uncomfortable about their decision. This is where trial periods, guarantees, and/or warranties come into play.
Customers will have more confidence in their decision, even after it is made, if they know they aren't "stuck" with their purchase. Having a guarantee to fall back on gives them the comfort to know that - should something go wrong - they won't be left stranded.
Generally speaking, a guarantee is a psychological support rather than a literal one. Most customers never take advantage of guarantees. they don't think they need to. However, if a guarantee wasn't offered, the anxiety of feeling "all alone" would overcome many buyers and persuade them into asking for a refund.
Understanding each step in the buying process can help you structure your selling process and your marketing materials to cater to the customer. Take the time to consider what your customer goes through when making the choice to buy, and alter your business accordingly. In doing so, you'll increase your chances of making more sales, and landing more satisfied customers.
Copyright © 2003
About the Author
Most buying decisions are emotional. Your ad copy should be, too! Let Karon Thackston write targeted copy and ezine articles for you. Visit her site at http://www.ktamarketing.com, or learn to write your own copy at http://www.copywritingcourse.com. Don't forget to subscribe to Karon's free ezine. (http://www.ktamarketing.com/ezine.html)
SIM's "Tip of the Week" back issues available at... http://www.startupinternetmarketing.com/ezines
TIPS, TOOLS & RESOURCES
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SIM WEB BOOKS
The Birth of a Professional Website
This free download is brand new and available from the SIM site ONLY. It's a compilation of 10 articles by Shelley Lowery that completely covers the job of launching a professional website, as only Shelley can. HIGHLY recommended... http://startupinternetmarketing.com/birth.htm
Internet Marketing Basics
If you're not TOTALLY familiar with the BASICS of marketing online then you owe it to yourself to grab AND read this dynamic 39-page report by Shelley Lowery. She discusses the many aspects involved with bringing your business online. Shelley is tops! http://startupinternetmarketing.com/shelley
* For more great tips and tools, visit our website:
FREE 5 DAY INTENSIVE COURSES
*Mastering Search Engine Placement
*Becoming a high-earning affiliate champion
*Creating, producing and selling your very own infoproduct
*Finding the Perfect Price that will maximize your profit
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SIM's WEEKLY REPORTS
Web Site Credibility: 10 Simple Guidelines
Marketing The Real You
Web Site Headlines That Work
Setting Parameters Within the BODY Tag
Cascading Style Sheets (CSS); Learning More
FEEDBACK & CONTRIBUTIONS
Elements Of Trust
For all its benefits, the Internet poses a particular challenge when it comes to selling. Because your customers can't walk into your store or office and see you face to face, it's much more difficult to build a sense of trust. People need to feel comfortable with your product, and simply put, computers are impersonal.
So, how do you build trust with someone you've never met? Credibility. Establishing credibility in your sales message is critical to putting buyers at ease. Credibility comes in many forms, and you simply cannot add enough examples of it into your sales message.
Where does credibility come from? First, it comes from other people. More importantly, real credibility comes from people with whom your prospect can easily relate. Use success stories and testimonials liberally. Tell the stories of all the people that have benefited from your product, especially if a story accurately represents the one big benefit you're trying to convey. Nearly any format for displaying them on your site is effective. So if you have them (real ones!), use them.
Secondly, credibility comes from the media. That is, if you know of newspaper/magazine articles, TV shows, academic or scientific reports, or any other factoids or public media references that support your claims, use them to provide specific support in your sales materials. Quotes from industry experts, graphs and charts, and statistics are effective ways of building credibility. And these references do not have to be directly related to your product - rather, they might be used to make a certain figure more definite ("plenty of folks" versus "67% of respondents to a CNN poll" - which is more credible?).
Lastly, credibility can come from your track record. Remember, the internet and its users are hyper-sensitive to credibility (for good reason). It's not enough to say that you've been in business for years, or that you were in this business offline before bringing it to the internet. If you're selling information, talk about how many people use and benefit from it already.
Putting together the elements of credibility for your product involves some of the hard ground work and research required to create effective sales messages. But doing that work upfront, and continually updating it, can make a huge difference in your sales.
. . .
Patrick Malcor is a freelance copywriter who specializes in direct response promotions and Internet advertising. Patrick is a former US Army officer with a BA in English from Davidson College. For a free 20 minute consultation with Patrick, complete the web form at http://firstname.lastname@example.org
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FOOD FOR THOUGHT
Worry is the dark room where negatives are developed.
-- Unknown Author
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