“Considered Purchase or Impulse Buy? We believe that labeling marketing as either “business-to-business” or “business-to consumer” is no longer the most relevant starting point for solving today’s critical marketing challenges.”
A considered purchase is a complex buying decision with a high degree of financial and/or emotional risk and reward, which requires meaningful investigation and deliberation prior to a transaction. All purchase decisions fall along a spectrum of complexity and consequence; unlike an impulse buy, a considered purchase typically has a long purchase cycle and significant consequences. Considered purchase decisions exist for both consumer and commercial products and services.
In order to make real connections with consumers that influence their decisions, you have to understand who they are, what their motivations are, and how they go about choosing a brand. Influencing a person to buy a pack of gum requires a vastly different marketing approach than influencing a person to buy life insurance, or a business to invest in a new technology. Whether you’re targeting a business or a consumer, these specific purchase journeys require a specific approach to marketing that recognizes the journey, respects the investment and consequences of the purchase, and reinforces confidence in the buyer that your brand fits their criteria.
Our decades of experience have given us a unique perspective into the complexities of these customer journeys. In B2B, almost every purchase is a considered purchase because so much is riding on every decision. And we recognize that, in many instances, individual consumers are going through the same thought processes in order to make certain purchases. They’re taking their time. They’re seeking out more information. They’re doing research. And we’re positioned with the knowledge and capabilities necessary to eliminate traditional B2B vs. B2C restrictions and speak to a cognitive process rather than an arbitrary categorization.
WHAT TYPE OF PRODUCT/SERVICE DO YOU OFFER?
Instead, start by determining if your product or service is a highly considered purchase or an impulse buy.
MORE PERSPECTIVES ON CONSIDERED PURCHASE MARKETING
We’re operating in a new marketing paradigm where the conventional lines of B2B and B2C no longer apply. Nelson Schmidt Chief Operating Officer Cody Pearce shares insights from CMOs on the front lines of this evolution.
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