Download - Customer Decision Making Process
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Customer Decision Making process
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Why should a business owner or marketer need to understand the customer evaluation process?
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What we will cover today
• The 5 step process in customer decision making
• Psychological influences of customer decision making
• 5 areas where you can position yourself in the consumer’s mind
• 8 ways to build raving fans
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How do customers buy?
• Research suggests that customers go through a five-stage decision-making process in any purchase.
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General buying decision making process
Need Recognition & problem awareness
Information Search
Evaluation of Alternatives Purchase
Post-purchase
evaluation
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•Hungry?
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• A customer can obtain information from several sources:• Personal sources
• Commercial sources
• Public sources
• Experiential sources
• Customers value and respect personal sources more than commercial sources (the influence of “word of mouth”).
Customer information sources
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How does the customer use the information obtained?
• High-involvement purchases
• Low involvement purchases
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General buying decision making processWhich of these stages can you influence?
Need Recognition & problem awareness
Information Search
Evaluation of Alternatives Purchase
Post-purchase
evaluation
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Post-purchase evaluation - Cognitive Dissonance• Common for customers to experience concerns after making a
purchase decision -> cognitive dissonance
• Services normally carry higher risks due to their intangibility.
• Manage the post-purchase stage• Persuade the potential customer that the product will satisfy his or her needs.
• Post purchase -> customer should be encouraged that he or she has made the right decision.
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Perceived risks – how can you help buyers to alleviate high levels of risk during pre and post purchase stages?• Acquisition of information (mass media, WOM, personal
selling)
• Brand loyalty, rewards
• Use of guarantees, third party endorsements
• Money back offers, trial samples
• Assurance
• Product installation and usage instructions
• After sales service and follow up
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Psychological influences on customer decisions
Customer decision
influencers
Motivation and
personality
Beliefs and Attitudes
Lifestyles
Socio-cultural
influences
Personal influences
Family influence
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General buying decision making processWhich of these stages can you influence?
Need Recognition & problem awareness
Information Search
Evaluation of Alternatives Purchase
Post-purchase
evaluation
“Stop trying to sell, start helping them buy.”
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ARE YOU IN YOUR CUSTOMER’S MIND
Pause for thought ......
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Customers are buying into your product or service• Where are you placed in
your customer’s mind?
• Are you even in it?
• How do you get in?
• Which part of the brain are you in?
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Positioning: The fight for your consumer’s mind
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• Attention• Knowledge• Comprehension• Understanding
• Attraction• Conviction• Interest• Desire
• Liking• Curiosity• Action
• Preference
• Recommendation• Word of mouth• Raving fans
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Awareness
Consideration
Trial
Repeat Purchase
AdvocatesAdvocacy
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BONUS TIPS FOR YOUR BUSINESS SUCCESS
Customer advocacy – a key to business growth
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Advocacy drives growth
Focus on customer success
The main intent of organisations with a customer advocacy strategy is “customer success”.
They aim to create more authentic customer relationships by
providing expert levels of individual customer protection and support.
As higher levels of trust, accountability and
transparency build, customer advocacy is a means for organisations to resolve their customer’s problems, and help them make important
decisions.
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8 Tools for Driving Growth by Optimizing Customer Advocacy
Customer advocacy
Referral programs
Tryvertising
Empowered involvement
Brand ambassador
programsCausal
Campaigns
Influencer outreach
Advocacy tracking research
Innovation
Ref: Advocacy Drives Growth, London School of Economics
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NOW, IT’S YOUR TIME FOR CONSIDERATION AND ACTION
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Awareness• What can I do to
increase Awareness in my business?
• ___________________
• ___________________
• ___________________
• ___________________
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Consideration• What can I do to
increase Considerationin my business?
• ___________________
• ___________________
• ___________________
• ___________________
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Trial• What can I do to
increase Trial in my business?
• ___________________
• ___________________
• ___________________
• ___________________
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Purchase• What can I do to
increase Purchases in my business?
• ___________________
• ___________________
• ___________________
• ___________________
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Repeat Purchase• What can I do to increase
Repeat Purchases in my business? ___________________
• ___________________
• ___________________
• ___________________
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Advocacy• What can I do to
increase Advocacy in my business? ___________________
• ___________________
• ___________________
• ___________________
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What we have covered today
• The 5 step process in customer decision making
• Psychological influences of customer decision making
• 5 areas where you can position yourself in the consumer’s mind
• 8 ways to build raving fans
![Page 30: Customer Decision Making Process](https://reader033.vdocuments.net/reader033/viewer/2022052522/54c41efb4a7959e8508b45c8/html5/thumbnails/30.jpg)
Another Bonus - Thanks for staying till this bit
• Register your name and email at our website www.gameplancoaching.com
• You will automatically get:• GAMEPLAN Life Bytes Welcome Newsletter
• E-book GAMEPLAN Strategies to Happiness and Success
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Before we conclude [email protected]
• I will send you a template with the 5 key areas, for you to complete with your business action points.
• All registrants today will receive our
free e-report Recession Busters: 30+ Tips and resources You Can Use Immediately to Thrive in a Recession
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Thank you!Email: [email protected]
Website: www.gameplancoaching.comTel: +61 (0) 422 475 225
P.O. Box 6317, North Ryde, 2113 NSW, Australia