Buying Moments
Todd Friedman
Founder | The Kiraly Group | Building Reliable & Scalable Business Growth Systems | Apex
What's the significant difference between a candy bar and an automobile? Well, certainly there's a significant, major distinction in cost between the two. But also the thought process as well as purchasing process that a customer goes through when picking these items. Let’s talk about the psychology as well as the process that a prospect goes through when they're deciding to get something.
What I wish to speak with you about is something called buying moments. No matter what it is you're buying, there's psychology behind the process of going from thinking about purchasing in your head to in fact separating yourself from the money it takes to buy it.
So, let's stick with the whole idea behind buying a vehicle. Currently, everybody, when they're getting a vehicle, undergoes some sort of a buying procedure and commonly it starts with research which is done online. Some time ago, Google presented a report that stated that there were 5 significant moments in journey a customer goes through when purchasing an automobile.
As a business owner, you can be present during some of these moments through your marketing avenues, but not all of them. The buying moments, specifically at the very beginning, are really personal to a prospect. So you don’t want to attempt to get in front of the prospect at this point. Unless it is mostly light branding.
So, what are these five moments that Google has recognized?
- What am I searching for?
So, just as an instance, a man in his thirties, who has a wife and two kids, thinks to himself, "I've just begun to see some success. I want a sports car." That's his decision. He's getting a sports car. Hi deserves it!
- But is it right for me?
The next action is he needs to take a step back. He needs to think about it. He really wants a sports car, To him, that’s the car to have. But then the image of his wife and two young kids comes into play and suddenly, that sports car turns into a midsize SUV very quickly.
- Can I afford this?
So now that they’ve figured out that a midsize SUV is the better choice over the sports car, they need to decide if it’s something that is in their budget. At this point they might reach out, or submit a form lead, but it doesn’t mean they’re ready to buy.. BUT, this is the point where a business can begin to enter the conversation. But how? By providing information on pricing and payment options.
- Where am I buying?
Our sports car dreamer turning midsize SUV driver now knows that the vehicle he has in mind is affordable, so now, he needs to figure out where to buy it. So once again, he’ll go back online to look at reviews, videos, and directions.
- Am I getting the best deal?
And then the last action of it is are they getting a deal on this? They're going to pull out their phone, whether they're at the dealership or otherwise, to go shop various other prices at other locations to see if they're obtaining a reasonable offer on this car.
REMEMBER, at any point, they may call the business with some questions. When they do call, it's up to your phone coordinators to figure out where are they in their purchasing process/ what level are they on.
If your phone coordinators can figure this out, they will be more likely to get the appointment. If not right away, then when the prospect is ready to go.
If you’ve found this info valuable and would like to discuss how to implement a strategy to be present to prospects wherever they are in the buying process, click here to learn more