When the same insurance company was facing slow growth in Asia for their life insurance product, they needed to reframe the conversation around aging. In their book, Why People (Don’t) Buy: The Go and Stop Signals, marketing professors Amitav Chakravarti and Manoj Thomas say, “effective marketing entails strengthening GO signals and weakening STOP signals.” We as marketers need to think about what might motivate our customers to buy, but also “ what’s stopping my customer from buying.” It takes both fuel (motivation) and removal of friction (barriers) to propel itself forward. Adding motivators (incentives, rewards, benefits, promotions) and removing barriers (uncertainty, perceived high effort) are equal counterparts to effective behavioral change. Motivating customers to imagine life with your product or service and removing barriers that are preventing them from taking action. There are two sides to stimulating problem recognition. It can be easily changed with the right choice of words or structure of information. The perceived effort is not about what your customers have to do, but how difficult they feel it is. This is one of the biggest mistakes marketers make. A strategically targeted advertisement that superficially creates a want or a legitimate physiological yearning like a rumbling tummy.īut without a want or a need there is no reason to buy. Problem recognition can be triggered by a number of things. The first step of the consumer buying process is realizing that there’s a problem that needs to be resolved.īut once a problem has been recognized - whether it’s basic needs like thirst, hunger, or sleep or first-world desires like getting one’s hands on the latest smartphone - the consumer buying process can officially begin. And one of the biggest mistakes a marketer can make is to forget about this fact. Without a void feeling in their chest, a fear of missing out, or a genuine physiological need, consumers won’t go looking for a solution. Either a consumer needs something or wants something. The first step of the consumer buying process is realizing that there’s a problem that needs to be resolved. You’ll also find examples of how the best brands make us want to buy. That’s why marketers must find a way to speak to the subconscious brain.Ĭustomers consider price as a vital factor influencing their purchase decision process. If you’d like to learn more about its importance, check out the article from our friends at Taylor Wells.īelow you’ll find each stage of the consumer buying process explained in detail along with insight on how psychology influences each stage. Non-conscious decision-making informs the majority of purchases and are highly impacted by purchase context. Most purchase decisions run on autopilot - buy the milk with the red label. The consumer buying process is actually a concept invented by marketers to better understand how to convince their consumers to buy their product. But people don’t go through it consciously and nobody actually runs through that checklist in their head. That’s the textbook definition of the consumer buying process. Stages of Consumer Buying Decision Process: The consumer buying process is the 5 stages a person goes through to make a purchase decision. You’ve probably come here asking yourself, “What’s the consumer buying process?” For starters, we’ll give it to you plain and simple. Evaluation of Solutions (consideration).
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