Archives for posts with tag: Awareness

Following the investment stage in the B2B buying process, dear reader, which follows the awareness of a problem or opportunity, defining that problem or opportunity, briefing the requirements to fix the problem or capitalise on the opportunity, evaluating the alternatives and selecting the best alternative, we come to the seventh and final buying stage.

In fact, as is true in the cycle of business, the seventh buying stage is also the first buying stage. In the ongoing operation of the business, the buying company is reviewing its operations, assessing the results of the investment against the target results it has set for the investment, and making changes where necessary to improve performance.

It’s also the stage where the company makes a call on whether it will supplement, renew or reorder – in the sense of order again rather than re-organise – the product or service that formed the original investment. This will depend on the resulting behaviours and achievements of the company against the plan for the investment. It will also depend on what other problems or opportunities arise that compete for attention and investment in the general running of the business.

In future posts I’ll examine the sales stages that align with these buying stages for successful selling.

 

I’m beginning, dear reader, a series of posts on the various buying stages for business-to-business customers. These buying stages correspond – as you’re probably sick of reading on this blog by now – to the sales stages of the selling organisation.

There will inevitably be generalisations, and of course you should adapt – through experimentation – what I say to your own customer groupings, but in the main the vast majority of this holds true. The terms, jargon and definitions may vary, but the essence is the same.

The challenge for the selling organisation is that nowadays it’s possible for the buying organisation to complete quite a few of the buying stages without the selling organisation ever knowing. So, unless you’re on top of your game and the available technologies, sales may simply pass you by.

So, back to the first stage. This stage is what I call ‘ongoing’. It’s the ongoing operation of the business. It’s in the day-to-day running of the customer’s business that problems, issues or opportunities arise. It’s the stage where the customer first becomes aware – awareness is the key behaviour here – that a situation exists that they need to address or capitalise on. This is the inflexion point where the company starts to contemplate spending money in order to make more money than they’re spending.

This is also the stage where companies are also evaluating the investments they’ve already made, reviewing their performance and making decisions about whether they will reinvest. As such, this stage both starts and completes the buying cycle.