Did you know there is actually an observable five stages process from which consumers made purchasing decisions?
It’s not just “bright, shiny object” theory – instead, it’s a well-documented (and quite universal) phenomenon that dictates who buys what when and where.
In case you’ve been the dark to this oh-so-applicable psychological theory, we’re going to shed on light on the highly predictable (and arguably) profitable five stage consumer purchasing process.
Marketing or selling is more than just catching a potential customer’s attention with flashy ads or a TV commercial. Instead, marketing covers a wide span of time – from catching the consumers attention, to the decision making process, to making the sale, to the after sale period, (hopefully) repeat sales, and creation of brand ambassadors or generation of brand loyalty.
It’s quite the process.
Hence, the 5 stage consumer purchasing process:
Although Stages 1-3 typically get all the attention in marketing, Stages 4 and 5 are equally important, but often overlooked.
Consider Home Depot:
Home Depot reports that one satisfied customer (one that enjoys a pleasant experience from Stage 1 all the way to Stage 5) is worth over $35,000 in sales per lifetime to the company.
Did you catch that? $35,000 in sales per the customer’s lifetime!
Take care of your customers! Post-purchase behavior is an important and essential part of marketing as the actual act of purchasing itself.
It's a Process
Marketers often just want to focus on one or two stages, but as we’ve already discussed, you must take a more holistic view to maximize sales.
Notice how there are multiple points in which to lose a customer:
Having a strategy – a marketing strategy – in place to address all five observable stages of the consumer purchasing process is essential to optimize your organization’s current and future revenue.
Marketing is about more than just making sales – it’s about turning one sale into more sales. As indicated by Home Depot’s satisfied customer stats, a happy customer means repeat purchases (lower customer acquisition costs) referrals (more customers w/out ad spend) and development of brand ambassadors – all of which lead to more and more SALES.
The takeaway here is that it’s not just ads or celeb endorsement that sparks sales – it’s everything included in the 5 step purchase decision making process.
Becker Digital is a full-service Marketing and Public Relations Agency dedicated to empowering mission-driven organizations to reach their goals. We apply our expertise in community development, social media strategy, and public relations to connect organizational clients with today’s always-scrolling online users.