G/O Sales Summit: The New Buying Journey for Retailers

2016 Sales Leadership Summit Powered by G/O DIGITAL
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The New Buying
Journey For Retailers

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US Consumers are
Big Spenders
Total Retail Sales (billions)
2014 $4,632.29
2015 $4,785.15
2016 $4,952.63
2017 $5,125.98
2018 $5,300.26

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Why do
consumers
buy?

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“People don’t want to buy a quarter-inch
drill. They want a quarter-inch hole.”
godigitalmarketing.com
–Theodore Levitt
InvolvementPerceived Importance
Risk ($$$)
Psychological factors shape buying habits
Rational/Emotion

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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
i

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The customer journey
has changed

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How Mobile Fits
Into The Consumer
Purchase Journey
45%
37%
24%
Consideration
Research
Validation

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It is a complex world for marketers
Offline, online, mobile and social marketing all influence a buyer before a sale,
making it difficult for retailers to find success in this complex, new world.

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In this complicated
purchasing environment,
what can you do?

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Agenda
Understand influencers and how
they differ across purchase types
Learn about purchase types and
how they relate to your retail clients
Use purchase behaviors to guide
your marketing strategy

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Influencers
Purchase Types
Application

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What influences a purchase?
Content/educational
information
Business differentiators
Loyalty Reviews and referrals
Price incentives Location

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Influencers
Purchase Types
Application

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The Four Purchase Types
Involvement/Risk
Emotional
Complex
Impulse
Sensible
Routine

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Business
Differentiators
Price
Incentives
Reviews and
Referrals
Loyalty
Location
Content/Education
SENSIBLE IMPULSE
ROUTINE COMPLEX

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Complex Purchase
Buying Cycle: Long, No repeat customers
Top Influencers:
Examples: Buying a new computer, appliances or fine jewelry
1. Content/educational
information
2. Business differentiators
3. Reviews and referrals
4. Price incentives

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Sensible Purchase
Buying Cycle: Medium-long, Repeat Customers
Top Influencers:
Examples: Choosing a mattress or rent to own home furnishing
3. Loyalty
4. Price incentives

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Routine Purchase
Buying Cycle: Short, Repeat customers
Top Influencers:
Examples: Buying cosmetics, toothpaste or pet supplies
1. Loyalty
2. Location
3. Price incentives

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Impulse Purchase
Buying Cycle: Short, opportunity for repeat customers
Top Influencers:
Examples: buying pair of shoes, holiday décor or a video game
1. Price incentives
2. Location

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Influencers
Purchase Types
Application

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Why do marketing campaigns fail?

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• You need to understand
their product
• You need to understand
their audience
How do you determine what kinds of purchases
happen at your client’s business?

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How can purchase types help
you identify your client’s
messaging and platforms?

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Ask the right questions

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What you need to know:
ü Do you often have repeat customers?
ü How often to people purchase from your business?
ü Do people often research your product versus a competitor’s before buying?
ü Do people buy your product/service on a whim?
ü What makes you different and better than a competitor?

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Content/educational information
Loyalty
Price incentives
Reviews and referrals
Location
Does the business
have enough
information online to
answer my questions?

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Loyalty
Price incentives
Location
What incentives does
the business offer to
loyal customers?

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Loyalty
Price incentives
Location
What specials or deals
is the business
currently offering?

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Loyalty
Price incentives
Location
What sets the business
apart from their
competition?

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Loyalty
Price incentives
Location
What are other people
saying about the
business?

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Loyalty
Price incentives
Location
Is the business
conveniently located?

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You want to work backwards
• A way of reverse-engineering
identification of your clients target
audience
• By knowing what kind of purchases
happen at your client’s business, you can
more effectively market to consumers on
the front end

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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

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How do you market to
each purchase type?

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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

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Sensible Purchase
Be found online Identify and promote
what makes your
business unique
Establish a system for
reputation management
and reviews
1 2 3

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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

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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

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Focus on the customer’s purchase journey
It will look different for every business.
agree that the quality, timing, or relevance
of a company's message influences their
perception of a brand.*
*Google, 2015
69
AWARENESS CONSIDERATION PURCHASE RETENTION ADVOCACY
%

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By focusing on the consumers, your client's
business can find, connect and engage with
prospects and drive results
At the
right time
On the right
device
With the right
message
Through the
right platform

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Recap
Understand influencers and how they
differ across purchase types
Learned about purchase types and
how they relate to your retail clients
How to use purchase behaviors to
guide your marketing strategy

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• Watch our video for more information on
purchase types
• Have your prospects take our quiz to define
the purchase types at their business
• Implement our top tips across the marketing
strategies you’re pitching
What can you do tomorrow?
http://www.godigitalmarketing.com/learn/video/what-is-your-purchase-type

G/O Sales Summit: The New Buying Journey for Retailers

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