The Marketing Cycle

For many, many centuries marketing has been in practice. It is highly effective and yet there are still many companies who do not follow its guidelines. Contrary to widespread belief, marketing has a lot more to it than colourful prints and payoff lines. Marketing is important, crucial actually, as it focuses on product, prices, and sales. For your business to succeed you should understand how marketing works. There are a few things you should most definitely want to know:

  • How to generate the most leads
  • How to increase revenue
  • How to expand to new markets
  • In the next few weeks we will highlight all that is needed to know and learn about starting your own marketing campaign and maybe even be the catalyst for deeper research.

What is the industrial buying cycle?

The industrial buying cycle is the starting point, be prepared for a lengthy and complicated journey. This is a six-step process can be challenging and your potential customers can fall in at any stage during the progression. Make it your priority to meet them where they are and gently guide them to their decisions. It is also important to know what the six steps are and where your client might be, these steps include:

  • Realising they need or want a product or service
  • They then go about gathering more information on ways to satisfy this need or want
  • Potential suppliers are evaluated and who can best provide a solution
  • A shortlist of suppliers is made
  • The buyer purchases from the supplier they have chosen and match most criteria.
  • The buyer then reassesses their decision after their purchase.

There are obviously more steps in the buying process, but these are the main ones. If you think smart you can reach a buyer at any step in the cycle and prove yourself. These days there are many ways a buyer does their research and makes their decisions. The following could make or break you:

  • Word of mouth
  • The layout of your website and how easily it can be found (concentrate on SEO’s)
  • Your presence in the market
  • How strong is your brand? (jingles are annoying, but they stick in your head)
  • Your past sales or services, the quality of your workmanship, after sales service, longevity of your products
  • Your environmental and socioeconomic status
  • And social media, perhaps the youngest, but the most dangerous or the best advertising

Just a few things to think about

Sit down and consider the above article, let it sink in. It makes sense if you use yourself as an example. What process do you follow when your lawn mower breaks? Do you open the yellow pages and go to the place at the top of the page? I should hope not. Do not underestimate your potential buyers, they make sure they are well informed before making decisions.