Measuring Marketing Effective Essay

590 WordsNov 23, 20143 Pages
* HOME * RETAIN CUSTOMERS * NEW CUSTOMERS * BUSINESS GROWTH * BLOG * HANDBOOKS * ABOUT * CONTACT 5 Critical Factors Affecting Buying Behaviour By Susan Oakes • 16 Comments 16 10 17 1 One important part of marketing is understanding what or who are influencing your customers. Especially when it comes to buying decisions. The reason it is important is it can affect your marketing strategy regarding how you are going to grow your business. There can be many influencing factors and I will forgo the obvious ones of friends, peers, family and their influence with regards to referrals. Here are five factors that can affect your customers’ buying behaviour: Your Business When customers are making buying decisions they look at what your business offers as well as your competitors. If they have a real problem increasingly they will look at businesses that are specialists. The reason why is they perceive a specialist company will have greater knowledge and expertise. And the products or services will be better than from companies that are generalists. The interesting thing is customers know they will pay a premium and are happy to do so. This is especially important when you face tough competition and want more customers for your business. External Factors I call them external because they are the ones that you have no say in, but can directly affect buying decisions. An example is when governments bring down budgets. If there are tax increases then these can mean your customers may not have the money to spend that they did before. It has nothing to do with you or your business. Keeping track of the key market trends that affect your business can help in this area. Simplicity Today customers are seeking simplicity when buying products or services. The reason why is lack of time and stress. They have many things going on in

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