The purchasing process is made up of the different steps or stages that the customer goes through when trying to buy a product or service from an eCommerce store. This encompasses all of the decisions that the consumer makes based on their needs, which lead them to finally purchase an item. In this five-phase purchasing process, there are a series of emotional and physical variables that influence and condition the final decision, which you should know to define the best pricing strategy. We’ll explain what each stage consists of and how to manage each of them to achieve a better conversion rate.
Generally speaking, we can talk about the following stages in the purchasing process:
- The recognition of the problem or need
- The search for information
- The assessment of alternatives
- The purchase decision
- Post-sale satisfaction
Knowing which stage each customer is in is essential for you to be able to reach them with your multichannel marketing campaigns.
1. The recognition of the problem or need
To begin, for the customer to decide to purchase a product or service, they must first need it and be aware that they have a problem that needs to be solved. This awareness is often enhanced by advertising. For this, you can identify the unmet needs of a segment of your target audience and create a specific campaign to target them. You can incorporate emotional messages in your ads and promotions, combining the real elements with those perceived by your potential customers.
2. The search for information
In this phase, the customer begins to discover how their needs can be met. Nowadays, it’s clear that we use the internet—more specifically, search engines—as our main source of information. This is why the SEO positioning of your eCommerce website must be the best possible. Incorporate quality keywords in your titles and descriptions that respond to users’ search intent to encourage potential customers to click on your eCommerce website.
3. The assessment of alternatives
While not all users pass through this phase, it’s common for them to compare products and prices in different companies before making a purchase. In this stage, to attract customers, you must have visible, simple information about all of the features of your products in addition to taking advantage of content marketing to compare items from different brands.
The price of the products is also of special importance. If you don’t want it to be ignored, your eCommerce website must have competitive prices that are in line with the market situation and what your customers expect.
4. The purchase decision
This is the key moment with the user decides to buy the product in your eCommerce store. Once the item has been added to the cart, the best thing you can do is offer them a simple, quick, and easy purchase process with few steps. Include different payment methods to generate even greater trust.
If you identify some potential customers as being indecisive, you can launch retargeting campaigns via social media or send emails with limited-time personalised offers, without using any invasive techniques.
5. Post-sale satisfaction
Don’t make the mistake of ending your relationship with the customer once their order has been delivered correctly. Post-sales offers you a unique opportunity to generate greater engagement with the brand and earn the loyalty of as many users as possible. You can send satisfaction questionnaires or offer unique discounts for the next few days following a purchase.
Applying the right marketing strategy at each phase of the process will allow you to accelerate the sales funnel and increase profits in the medium and long term. You can’t lose sight of the fact that the final degree of customer engagement with your eCommerce business will depend on the prices in your catalogue. The most effective way to offer them the best prices is to track your competitors’ prices. To do this, you can use automated competitor monitoring tools.