Understanding the client buying cycle

There are client buying cycles with most products and services. It is important that you have a clear understanding of the client buying cycles, and to be able to identify where you "stand" with your client in order to implement the right sales strategy.

The buying cycle

Initiation point

The initiation point is the point in the client buying cycle where the client begins to think about whether or not to spend his or her money on a specific product or service. The client will become aware of the need to buy a new car, a pair of shoes, or whatever the need might be. This need within the client is not necessarily generated by an advertisement. It is an internal awareness of something that will need to be replaced or updated soon. The buying cycle has been initiated.

invisible development period

This is the point in the client buying cycle where the client starts noticing advertisements, different manufacturers or suppliers of the products and services he / she needs. The client begins to pay particular interest in articles published regarding the product or service. No sales people are currently aware of the client's intention to buy something. Sometimes a friend or family member of the client will let a salesman or woman know that the client is currently in the market to buy a specific product or service. The client is well into the buying cycle at this stage.

Visible development period

At this stage in the client buying cycle the client will start to ask questions about the particular product or service he / she is interested in. The client will ask friends, family and colleagues at work about the products and services in order to get more information to make a decision. The client is very close to buying at this stage.

Maximum visible development period

This is the point in the buying cycle where the client physically walks into a shop or showroom with the intention to purchase. A client who is at this point in the buying cycle is 80% sold. The salesperson will not need to make contact and persuade the client to buy. The client is ready and willing to buy, and a good relationship with the client is not a necessity. Clients who find themselves at the maximum visible development point not only wants to buy the product or service, they also have the ability and desire to do so.

Visible decline

The sale is done and the client goes into a visible decline. The client will still show an interest in the products and services that are available, but the client is happy with his purchase and shares his / her new found excitement with their friends, family and colleagues. Gradually the client's interest in their purchase will fade away as they loose interest in their new purchase.

Rejuvenation or rest period

This is a dormant stage in the client buying cycle. The client doesn't put anymore thought into the product or service he / she purchased. The client might identify a new need for a different product or service.

If you understand buying cycles, and know how to identify where the client is in the buying cycle you will know when to be talking to the client about buying.