Understanding Your Client’s Buying Process

Rarely is marketing a one time event. It is not a quick fix or magical formula to flood you with new clients for little investment on your part. Rather, it is a series of interactions you have with prospects as they try to solve their problems. There are a number of steps people take before they decide to buy something.

Awareness
Nothing happens until someone realizes they have a problem. Sometimes, this is an immediate need - your prospect is served divorce papers or evicted from their apartment. Other times, this is something they’ve been thinking about in connection with a major life event - getting married, growing a family, buying a vacation home, or retiring. In the awareness stage, something kicks in and your prospect starts actively thinking of possibilities.

Research
Once your prospect has an issue on his mind, he starts gathering information. What’s the first step to buying or selling his home? Can he do it himself or must he hire a real estate agent? Is it risky to buy or sell his home now? What can he afford? Does he know anyone that recently bought or sold a home? What did they do? Are there any books on the subject? What information can he find via the web? At a seminar? In the research stage, your prospect starts trying to find information about his problem, whether he needs to take action, and what possible actions he might take.

Evaluate Solutions
Once your prospect feels comfortable that he’s gathered enough information to make an informed decision, he starts to compare options, weighing the risks and benefits of each. Here, he’ll probably weigh the benefits of solving the problem himself or hiring outside help (a real estate agent or lawyer). If he feels outside help is the way to go, he’ll initiate contact with a handful of real estate agents he found during his information gathering and set up a consultation to discuss his situation. In the evaluate solutions stage, your prospect is much closer to making a decision. Here’s where he’ll want to talk with you to find out what you can do for him.

Buy Solution
Once your prospect has evaluated all the solutions in front of him, he must make the decision to move forward with one. Hopefully, you’ve just signed on a new client.

Re-Evaluate Solution
Signing a new client is just the beginning of your working relationship. Now, your client will be looking for reassurance that he made the right decision. He’ll have expectations for working with you, so it’s up to you to make sure he’s in the loop and is happy with your working relationship.