joint venture marketing
When you begin the JV marketing process, you want to know that your efforts will be successful. To ensure you get the biggest bang from your marketing buck, it is important to understand the decision making process that goes into nearly every purchase made.
Many psychologists and marketing gurus have spent countless hours researching and studying the reasons that consumers move from thinking about a purchase to actually taking out their wallets and putting money down. This article will give you a brief view of the decision making process to help you find the most effective methods for inspiring your potential customers to buy.
Recognizing a Need
Before customers spend their hard earned dollars, they have to see a need. This need can be known to the individual, or one that you can make known to them by showing them how a particular aspect of their lives can be easier or more convenient because of your product or service.
To make the need known, you need to think of your commodity from the customer’s point of view. Demonstrate both the problem and the solution you offer to make your product as compelling as possible.
Information and Alternatives
Many customers, once they recognize the need, will next undertake an extensive information gathering process to weigh their alternatives and choose the best solution for their needs. The amount of time that goes into the information gathering is often directly related to the value of the product. More expensive or complex products and services will usually merit a more involved research time. In the case of smaller products or a more urgent need, the customer may bypass this step in the decision-making process completely in favor of obtaining a solution to their need as quickly as possible.
Once the information has been perused and the alternatives thoroughly weighed, the purchase process will ensue. This step may or may not be in the accompaniment of a negotiation strategy, depending on the value of the item and whether it is customary to bargain for a better deal.
You can call a customer to action by carefully working through the previous steps with them and motivating them to make a purchase decision. Make the buying process as easy as possible, so your customer can get the item he wants without additional hassle or frustration.
If your customer has thoroughly gone through all of the steps above and has successfully met his need with your product, the post-evaluation process should go very smoothly. It is important to reiterate to your customer the benefits of your commodity at the time of purchase to lessen his feelings of doubt after the fact. This will continue to encourage your customer that he made a good purchase decision and make him more likely to buy from you again when another need arises.
JV marketing successfully brings customers to your business, but without the knowledge of how the purchase process works, your efforts may fall flat. By understanding how consumers make their decisions, you are more likely to close the initial sale and enjoy additional business from that customer in the future.
christian fea is CEO of Synertegic, Inc. A joint venture marketing firm. He exemplifies how to profit from Joint Venture relationships by creating profit centers with minimal risk and maximum profitability.
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