Who Is Your Ideal Client?
Our focus will be on understanding your market by identifying your potential consumers, competitors and the external factors that influence your business environment.
Your market may consist of different customers with different buying behaviours. Some may prefer impulse purchasing while others may prefer taking their time and getting assistance from others.
Getting a good understanding of how consumers think, what their buying habits are and what factors influence these habits is essential for you to make the most of your marketing opportunities.
So, first to get a better understanding of how people buy let's look a their behavior during the buying process.
The Buying Decision Process:
Interpersonal factors like: cultural, social status, friends, and family influence the problem or opportunity recognition.
Other factors. Personal like: needs and motives, perceptions, self-esteem, attitudes, learning, self-concept, motivate people to look for the things that will provide them wiht their desired state.
Recognizing consumer behavior and the buying process early on will help better focus our market research.
Today people search online for information about solutions to their problems.
According to Google Research Insights Study, 87% of people search online before buying. Then 79% search while on the store, and 35% after visiting the store.
Next, we need to understand:
- Why do consumers buy? Why will they buy the products or services on offer?
- Who buys? What are the characteristics of consumers that are likely to buy from you?
- What do they buy? Which products or services do they typically choose? What brands do they prefer?
- How do they buy? What are their buying habits? Do they buy because it is convenient or do they buy because it is easily accessible? Do they pay cash, or do they use credit cards?
- Where do they buy? Do customers prefer to buy from mail order, retail stores, or the online? How far are they prepared to travel to buy?
- When do they buy? How much is the behaviour of customers affected by seasonal influences? What about the holiday season? How does that affect their shopping patterns?
Roles In The Buying Process.
Identifying the roles in the buying process can help your business develop the most effective marketing strategy. Different people have different roles in the purchasing process of a particular product. For instance, if you consider a family, there can be different roles occupied by various family members as follows:
- The person who suggests the idea of buying a particular product or service
- The person who advises or carries some weight in making the final buying decision
- The actual decision maker who would ultimately make the buying decision
- The person who would make the purchase
- The user of the product. Therefore a company needs to identify who occupies which role or roles and thereby tailor the marketing strategy to suit.
Knowing the main participants and their roles in the buying process can help you to fine-tune the marketing strategy.
- Describe the types of people you want to reach.
- What role do they play in the decision making process?
- What factors stimulate and influence their buying patterns?
Information adapted from © State of New South Wales through NSW Trade & Investment, and we have added some modifications and adapted some content.
Find Your Niche
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