Where does your focus currently lie within your business? Are you 100% focused on creating the perfect product and getting it into your online store? Are you determined to spend more on product development for a next-gen solution? The dedication that goes into product creation is great when it results in something people want to buy. However, you can’t neglect the customer experience. Customers don’t want to feel like another anonymous person adding to the company’s profits. They want to feel valued and as though their time and opinions matter. Those that don’t get the customer experience they desire might not come back again.
That’s why it’s so important to work with trained coaches in revenue operations to understand the customer journey a little better. It starts by identifying the steps in your buyer and seller purchasing cycles. Once you have these more aligned, you should be on the way to greater profits and a more consistent revenue stream. Still, it’s easier said than done without the right coaching to help you out. Here’s a quick introduction to the purchasing cycles and why you need top revenue operations consultants on your side.
Understanding Buyer And Seller Purchasing Cycles
One way an experienced RevOps consultant is invaluable is in the way they help companies appreciate purchasing cycles. There are two cycles in play in any operation, and you can’t have a successful business if you focus on one and neglect the other. They have to work in unison for complete cohesion and a more fluid journey to growth and profit. On one side, there is the buyer purchasing cycle. These are the steps taken by any consumer in any purchasing decision, no matter the company. On the other, there’s the seller purchasing cycle. When they align, you can create some magic.
The Buyer Cycle
Understanding the buyer cycle is crucial in ensuring that your company appreciates the habits of users and how that relates to sales. Buyers all have very different desires and motivations when it comes to purchasing an item, even if they both want the same thing. Yet, the general pattern of behavior tends to stay the same. It all starts with consumers determining what they might want to buy with online research. They have a problem that needs fixing or a gap that needs to be filled. Either way, they want to see what their options are. This leads to a lot of time spent on consideration and seeing what is of most interest. Every consumer goes through a lot before reaching your company and you have to hope to offer enough to make them stick around.
Once they reach you, they go into analysis mode. Here, they start looking at the products available and determining their preference over other options. Are you the best option? To decide that, they need to see the benefits and risks. Then, after weighing up the pros and cons, they can start the purchase, which is the last of all the stages. This long process highlights the importance of customer research, comparisons, and product information in the customer journey. The more informed they are, the better the chance of them buying something. The only way to be sure of that is with a strong seller cycle.
The Seller Cycle
Because buyers put so much into their choices, sellers need to exert the same amount of effort to create a product that stands out. You have to start from the very beginning and match consumers in their journey. They start with a problem that requires a solution. Therefore, you need to start identifying pain points experienced in your target market and make a decision on the best route forward. This leads to creating a strategy that then allows for a desirable product – one that’s also easy to present to the public.
The presentation of the product is a deal-breaker when attracting buyers and beating the competition. Buyers want to see exactly what’s on offer and why it’s beneficial. So, effective marketing and product listing is a must. From there, your team can get to work on building this presentation with a strong proposal. This proposal should help influence the decision to buy by highlighting the benefits and reassuring consumers that there are no risks. As with the final purchase in the buyer cycle, it finishes up with the closure of the sale.
Maintaining A Balance
Success depends on balancing the two so they flow together. You can work on communication with buyers as a seller, such as by giving clear product information during marketing campaigns and in product listings. You can also improve the customer experience by confirming prices at the checkout, confirming orders, and confirming shipments to keep customers informed and in control. It also helps to deal with payments promptly to close the sale and encourage them to come back. Maintaining these relationships with customers goes a long way, too. Work on ways you can keep them engaged and coming back for more with a new personalized campaign.
Work With Trained Revenue Operations Specialists For The Best Results.
There is a lot to consider with both sides of the purchasing cycle, and that’s just the start of the journey towards improved growth. Once you’ve worked hard to improve the customer experience this way, you can focus on other measures for revenue and profit growth. It takes time, but the right coaches can help you educate your team through in-depth workshops and professional consulting services. You need to be sure you keep both sales cycles in alignment. Expert coaches can help you achieve this with a full appreciation of what buyers and sellers want, how they hope to achieve it, and how to improve. The best revenue operations experts can work with you to provide new insights to employees, help with problem-solving, and maybe see current challenges as new opportunities. So, get in touch with an agency today to see how they can coach your team into developing better purchasing cycles.
Founder Dinis Guarda
IntelligentHQ Your New Business Network.
IntelligentHQ is a Business network and an expert source for finance, capital markets and intelligence for thousands of global business professionals, startups, and companies.
We exist at the point of intersection between technology, social media, finance and innovation.
IntelligentHQ leverages innovation and scale of social digital technology, analytics, news, and distribution to create an unparalleled, full digital medium and social business networks spectrum.
IntelligentHQ is working hard, to become a trusted, and indispensable source of business news and analytics, within financial services and its associated supply chains and ecosystems
