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Leverage Purchase Types to Win More Customers for Less

Leverage Purchase Types to Win More Customers for Less

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Anita Campbell, CEO of Small Business Trends, and Raghav Mathur, Vice President of Strategy & Business Development at G/O Digital, discuss how to market based on what behaviors your customers exhibit prior to actually making a purchase.

Anita Campbell, CEO of Small Business Trends, and Raghav Mathur, Vice President of Strategy & Business Development at G/O Digital, discuss how to market based on what behaviors your customers exhibit prior to actually making a purchase.

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Leverage Purchase Types to Win More Customers for Less

  1. 1. 1#WinLocal Leverage Purchase Types to Win More Customers For Less
  2. 2. 2#WinLocal 2#WinLocal Presenters Anita Campbell CEO Raghav Mathur Vice President, Strategy & Business Development Andrea Parker Senior Content Marketing Manager Moderator godigitalmarketing.com
  3. 3. 3#WinLocal #PurchaseTypes
  4. 4. 4#WinLocalgodigitalmarketing.com
  5. 5. 5#WinLocal The customer journey has changed Discover Buy ExploreEngage Shop onlineView banner ad Watch tutorial Purchase through call center blog Compare/sho p online Post reviews Purchase via mobile View YouTube ad Like on Facebook Read Reviews Purchase in store Watch YouTube ad Download app Watch video on mobile View print ad Traditional Customer Lifecycle Digital Customer Lifecycle godigitalmarketing.com
  6. 6. 6#WinLocal 6#WinLocal Everything starts with a need of shoppers research online before buying81% Retailing Today, 2014 Using search engines Comparing product prices Reading user reviews Visiting multiple online stores Reading product information godigitalmarketing.com
  7. 7. 7#WinLocal 7#WinLocal Technology gives the consumer the information they need of online consumers look up more information now versus a few years ago Google, 2015 82% of smartphone users use a search engine when looking for a local business 100M+ hours of “how-to” content have been watched on YouTube so far this year 65% godigitalmarketing.com
  8. 8. 8#WinLocal In this complicated purchasing environment, what can you do? godigitalmarketing.com
  9. 9. 9#WinLocal 9#WinLocal Agenda Learn about purchase types and how they relate to your business Understand how purchase types help you identify your target audience Use purchase behaviors to guide your marketing strategy godigitalmarketing.com
  10. 10. 10#WinLocal 10#WinLocal Purchase Types Your Audience Application Agenda godigitalmarketing.com
  11. 11. 11#WinLocal 11#WinLocal What is a “Purchase Type?” • Purchase types relate to the kinds of purchases that happen at your business, regardless of who that person is • You may have more than one purchase type for your business godigitalmarketing.com
  12. 12. 12#WinLocal 12#WinLocal The Four Purchase Types godigitalmarketing.com Business differentiators Price Incentives Review/Referrals Reliability/Loyalty Location Content/Info/Educational
  13. 13. 13#WinLocal 13#WinLocal Sensible Purchase Buying Cycle: Medium-long Top Influencers: This purchase requires advance research and trust between the buyer and your business. Examples: Choosing a dentist or landscaper 1. Reviews and referrals 2. Business differentiators 3. Loyalty 4. Price incentives godigitalmarketing.com
  14. 14. 14#WinLocal 14#WinLocal Routine Purchase Buying Cycle: Short Top Influencers: Routine purchases are everyday items that a buyer can find at a number of stores, but they shop at your store because they know you’re a respectable, dependable business. Examples: Buying toothpaste, grocery shopping 1. Loyalty 2. Location 3. Price incentives 4. Business differentiators godigitalmarketing.com
  15. 15. 15#WinLocal 15#WinLocal Impulse Purchase Buying Cycle: Short Top Influencers: Impulse Purchases are need- or want-based and provide instant gratification. Examples: Consumer’s fridge breaks and they need a new one quickly, shopping for new clothes 1. Price incentives 2. Location 3. Reviews and referrals 4. Business differentiators godigitalmarketing.com
  16. 16. 16#WinLocal 16#WinLocal Complex Purchase Buying Cycle: Long Top Influencers: Complex purchases require a lot of information for the consumer in advance. This is most likely a large purchase, and they want to make sure they’re making the right decision. Examples: Buying a new fridge in a non-emergency situation, buying a new car, shopping for a house 1. Content/educational information 2. Business differentiators 3. Reviews and referrals 4. Price incentives godigitalmarketing.com
  17. 17. 17#WinLocal 17#WinLocal • You need to understand your product or service • You need to understand your audience How do you determine what kinds of purchases happen at your business? godigitalmarketing.com
  18. 18. 18#WinLocal 18#WinLocal Purchase Types Your Audience Application godigitalmarketing.com
  19. 19. 19#WinLocal How can purchase types help you identify your target audience?
  20. 20. 20#WinLocal 20#WinLocal You want to work backwards • A way of reverse-engineering identification of your target audience godigitalmarketing.com
  21. 21. 21#WinLocal 21#WinLocal You want to work backwards • A way of reverse-engineering identification of your target audience • By knowing what kind of purchases happen at your business, you can more effectively market to consumers on the front end godigitalmarketing.com
  22. 22. 22#WinLocal 22#WinLocal You want to work backwards • A way of reverse-engineering identification of your target audience • By knowing what kind of purchases happen at your business, you can more effectively market to consumers on the front end • Going backwards leads you to your ideal audience godigitalmarketing.com
  23. 23. 23#WinLocal Ask the right questions
  24. 24. 24#WinLocal 24#WinLocal How often do people purchase from your business? Examples: • Women buy new mascara every 2-3 months. This is a routine purchase. godigitalmarketing.com
  25. 25. 25#WinLocal 25#WinLocal How often do people purchase from your business? Examples: • Women buy new mascara every 2-3 months. This is a routine purchase. • People looking to buy a new car only do this every 5-10 years or so (depending on the person). This is a complex purchase. godigitalmarketing.com
  26. 26. 26#WinLocal 26#WinLocal How often do people purchase from your business? Examples: • Women buy new mascara every 2-3 months. This is a routine purchase. • People looking to buy a new car only do this every 5-10 years or so (depending on the person). This is a complex purchase. • Purchasing new, more stylish winter boots. This is an impulse purchase if they already have boots that are functional, but it can also be a sensible purchase if new boots are necessary. godigitalmarketing.com
  27. 27. 27#WinLocal 27#WinLocal Do you often have repeat customers? Depending on what kind of purchase happens most at your business, you’ll want to nurture repeat customers differently. godigitalmarketing.com
  28. 28. 28#WinLocal 28#WinLocal Do you often have repeat customers? Depending on what kind of purchase happens most at your business, you’ll want to nurture repeat customers differently. Examples • Impulse purchase – you want to be known as the best place to find a good deal. • Routine purchase – you want to be known for your customer service and dependability. • Sensible purchase – you want to be known for your stellar reviews and service. • Complex purchase – you want to be known for what makes you different or better than your competitors. godigitalmarketing.com
  29. 29. 29#WinLocal 29#WinLocal Do people often research your product versus a competitor’s before buying? People research competitors’ products and services in different ways depending on what kind of purchase they’re making. godigitalmarketing.com
  30. 30. 30#WinLocal 30#WinLocal Do people often research your product versus a competitor’s before buying? People research competitors’ products and services in different ways depending on what kind of purchase they’re making. Examples: • Routine purchase – a customer is more likely to compare products while in-store (think about buying a tube of toothpaste), so your marketing should focus on bringing them to the store as opposed to marketing to undercut your competitors. • Sensible purchase – a customer will definitely research your competitors before calling or booking an appointment online. They need to known how and why you are better than your competition. godigitalmarketing.com
  31. 31. 31#WinLocal 31#WinLocal Do people buy your product or service on a whim? If your answer is yes, you more than likely have impulse purchases happening at your business. godigitalmarketing.com
  32. 32. 32#WinLocal 32#WinLocal Do people buy your product or service on a whim? If your answer is yes, you more than likely have impulse purchases happening at your business. Consider these examples that are clearly not impulse purchases Buying a new house Complex Buying a new dishwasher Sensible Buying groceries Routine godigitalmarketing.com
  33. 33. 33#WinLocal 33#WinLocal Do people buy your product or service on a whim? If your answer is yes, you more than likely have impulse purchases happening at your business. Consider these examples that are clearly not impulse purchases Buying a new house Complex Buying a new dishwasher Sensible Buying groceries Routine Buying a candy bar at the checkout counter Impulse But… godigitalmarketing.com
  34. 34. 34#WinLocal 34#WinLocal Why do people choose your product or service over a competitor’s? Why are you different? What makes you better? Examples • A landscaping service that offers free estimates • A private school that teaches the International Baccalaureate program • A local pet store that offers free delivery on all orders godigitalmarketing.com
  35. 35. 35#WinLocal 35#WinLocal Identify the owners of a decision • Many small businesses focus on price, but it’s not always about price godigitalmarketing.com
  36. 36. 36#WinLocal 36#WinLocal Identify the owners of a decision • Many small businesses focus on price, but it’s not always about price godigitalmarketing.com TOP TIP: Ask the people on your staff for the most common customer questions
  37. 37. 37#WinLocal 37#WinLocal Purchase Types Your Audience Application godigitalmarketing.com
  38. 38. 38#WinLocal Mobile gives everyone access to information godigitalmarketing.com
  39. 39. 39#WinLocal 39#WinLocal People are always on, always connected Businesses have to be there for the: I-want-to-know moments I-want-to-do moments I-want-to-buy moments I-want-to-go moments godigitalmarketing.com
  40. 40. 40#WinLocal 40#WinLocal It will look different than other businesses. Focus on YOUR customer’s purchase journey Awareness Consideration Purchase Retention Advocacy godigitalmarketing.com
  41. 41. 41#WinLocal 41#WinLocal It will look different than other businesses. Focus on what questions they ask when researching your product. • When do they research your product? • How do they find your business? Focus on YOUR customer’s purchase journey Awareness Consideration Purchase Retention Advocacy godigitalmarketing.com
  42. 42. 42#WinLocal 42#WinLocal It will look different than other businesses. Focus on what questions they ask when researching your product. • When do they research your product? • How do they find your business? Focus on YOUR customer’s purchase journey of smartphone users turn to their device for ideas while doing a task.91% Awareness Consideration Purchase Retention Advocacy There are so many places to meet them… godigitalmarketing.com
  43. 43. 43#WinLocal How do you market to your purchase type?
  44. 44. 44#WinLocal 44#WinLocal Sensible Purchase Be found online Identify and promote what makes your business unique Establish a system for reputation management and reviews 1 2 3 godigitalmarketing.com
  45. 45. 45#WinLocal 45#WinLocal Routine Purchase Stay top of mind Continually grow your customer base through email Differentiate your business by creating a two-way relationship 1 2 3 godigitalmarketing.com
  46. 46. 46#WinLocal 46#WinLocal Impulse Purchase Define your target audience and get in front of them Keep messaging relevant for a personal touch Craft messaging that inspires action 1 2 3 godigitalmarketing.com
  47. 47. 47#WinLocal 47#WinLocal Complex Purchase Create a value proposition Craft content and messaging around your customers’ long buying journey Make your business easy to find — anywhere, anytime 1 2 3 godigitalmarketing.com
  48. 48. 48#WinLocal 48#WinLocal Learn about the four purchase types and how they relate to your business Understand how purchase types help you identify your target audience Apply purchase behaviors in your marketing strategy Recap godigitalmarketing.com
  49. 49. 49#WinLocal 49#WinLocal • Start figuring out your purchase type • Develop a survey for customers to see how they go about purchasing at your business • Talk to your staff about what they’re seeing and hearing from customers • Watch our video for more information on purchase types What can you do tomorrow? godigitalmarketing.com
  50. 50. 50#WinLocal Q & A
  51. 51. 51#WinLocal 51#WinLocal Additional Resources Blog Origin of Purchase Types Research Holiday Purchasing Habits: A Digital Advantage for Local Businesses E-Book Reach the Summit: 4 Strategies to Boost PPC Performance Blog A chat with Andrea Parker about Purchase Types godigitalmarketing.com
  52. 52. 52#WinLocal Thank you!

Notes de l'éditeur

  • Speaks to complex purchases, where a business differentiator is crucial for people picking you over a competitor. What makes you special?
  • Michael Douglas as Gordon Gecko in the original Wall Street movie. This was one of the first commercially-sold mobile phones. It’s comically enormous.
  • 1. Be found online
    Claim your maps listings across search engines, including Google, Yahoo, Bing, Yelp and Apple Maps

    2. Establish a system for reputation management and reviews
    Note all the places where customers can review or give public feedback about your business (Facebook, Google+, Twitter, Yelp, industry-specific sites)
    Create a template for messaging on each network

    3. Identify and promote what makes your business unique
    Create a value proposition and include the messaging in all external communications.
  • 1. Stay top of mind
    Tailor your messaging to specific audience segments so your business is relevant to their needs.
    2. Differentiate your business by creating a two-way relationship
    Develop email marketing and social plan that gets your message across and has an outlet to provide feedback.
    Send a welcome email to new subscribers, include contact information clearly and prominently in all communications.
    3. Continually grow your customer base through email
    Share the benefits of your business’ rewards or loyalty programs
    Speak to the need you know your customer has or will have
    Become a trusted authority so new customers see you as a knowledge source, not just a product or service provider.

  • 1. Define your target audience and get in front of them
    Identify their gender, age range, ideal location or service area and income range.
    2. Craft messaging that inspires action
    For indulgent purchases: Create urgency (i.e. Today Only – 20% off!), showcase value, keep your offer realistic
    For emergency purchases: Include how you will fix their problem quickly and highlight your expertise to provide assurance (i.e. We’ve fixed more than 1,000 roofs!)
    3. Keep it relevant for a personal touch
    Keep your messaging relevant to the time of year (i.e. Drop the weight from Thanksgiving dinner with a 10-class starter pack!)

    For step 2, make sure to do your research about purchases in your industry. Example: A 15 percent off deal is valued higher than a buy one, get one free offer in the retail industry.
  • 1. Create a value proposition
    Define what you do, who you do it for, why there is a need for what you do and how your business is unique in your industry.
    2. Make it easy to find — anywhere, anytime
    Make sure your website is optimized across devices by entering your URL into Google’s Mobile-Friendly Test.
    Search for your business in online directories to see where it’s featured and what information is available. If necessary, notify system administrators of inaccuracies and corrections.
    3. Craft content and messaging around your customers’ long buying journey
    Search engine optimization has shifted to topics rather than specific keywords, so build authority (and higher search rank) for your page by creating content aligned to three main topics.

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