2016-11-21 00:00:00Growing a BusinessEnglishLearn about the various stages of the buying cycle, what they mean and why they are important for small business sales.https://quickbooks.intuit.com/ca/resources/ca_qrc/uploads/2017/03/hats-begin-buying-cycle.jpghttps://quickbooks.intuit.com/ca/resources/growing-business/what-is-the-buying-cycle/What Is the Buying Cycle?

What Is the Buying Cycle?

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The buying cycle, also known as the sales cycle, is a process that consumers and businesses go through when deciding on a purchase. Understanding this cycle is key to selling a product or service effectively.

Generally, the buying cycle is broken down into four stages: awareness, consideration, purchase and after-sale.

  • Awareness is when a consumer discovers your product for the first time.
  • Consideration occurs when consumers think about using your product as a solution to their problems.
  • Purchase is when a consumer chooses your product and actually buys it.
  • After-sale includes all follow-up support and considerations.

Each stage is critically important to launching and selling a successful product; think about each stage strategically.

References & Resources

Information may be abridged and therefore incomplete. This document/information does not constitute, and should not be considered a substitute for, legal or financial advice. Each financial situation is different, the advice provided is intended to be general. Please contact your financial or legal advisors for information specific to your situation.

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