There are three very important stages in the customer life cycle model that ALL online marketers need to be aware of. These factors control the outcome of each customer individually and indicate whether or not they are close to making a purchasing decision…
1) Phase One – Research
People love to come online and learn new things about topics they are thinking of investing in. They are set on the topic but they are not necessarily set on product ( lack of product awareness ).
I tend to be a little bit spontaneous with my purchases online but the majority of people out there are not. Most people prefer to take on the information highway and learn about a concept before they consider purchasing something.
The internet provides untold mediums where people can locate this knowledge/information:
- Organic Searches ( Google, Bing, Yahoo )
- Social Media ( Facebook, Twitter )
- Celebrity Sites
- News Websites
The list goes on and on…
Your approach as a marketer: In this phase your best approach will be to learn how to build up an email list or create a social media channel people will like to follow.
You want to be in control of a medium that allows you to walk the potential buyer through customer life cycle model ( you are not that likely to witness any instant sales at this point ).
2) Phase 2 – Decisions
As I touched on above – some people ( like me ) tend to go through a VERY short decision phase and buy instantly. They seem to know what product they want and are targeted on getting it.
But the majority of customers are not at all like this – they prefer to research the subject before deciding upon what product best suits their needs.
99% of the time these decisions can ( and will ) be influenced by online reviews or personal testimonials/opinions. This is where an effective internet marketer can intercept the process and showcase their high quality options.
This is the phase where individuals are searching for further product insight.
Your approach as a marketer: You are looking to pick up potential customers here – plain and simple! People are on the lookout for reviews on products they have pinpointed.
If you manage to create a review people feel comfortable with you will make a sale. People will also be on the lookout for reviews that are not so positive on products. Try your best to leverage both types of review and use them to your advantage.
3) Phase 3 – Actions
This final phase is the phase that provides the bread and butter for us marketers – action. Without actions there will be no commissions!
Actions turn your new visitor into a new customer – actions pay the bills!
When an individual is in this final phase all the decisions have been made and the research is over. It’s near enough impossible to detour them from this chosen product decision.
In an ideal world, you would be able to target all the people within this final phase but that could never happen. All decisions have been made by this point.
Your approach as a marketer: You are always looking to get a potential customer to this point. If you’re lucky you’ll catch them near this point but in most cases you will have to guide them there.
Here you want to point people in the direction of a suitable product through your affiliate links – here conversion rates are high.
This is the perfect phase to catch people who are ready-to-buy but remember – they are the hardest people to hunt down.
Customer Life Cycle Model
If you are interested in learning more about the phases of the customer life cycle we recommend trying out the FREE training offered at the Wealthy Affiliate. Here you will learn about ALL aspects of modern day internet marketing along with the use of FREE marketing tools.
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