In marketing, we call the process a consumer goes through from the moment a need arises until it is resolved by purchasing a specific product or service. Throughout this process, the consumer goes through different stages : first he becomes aware of the need, then he investigates and considers different ways to solve it, then he decides on one of these ways and finally makes the purchase.
The difference between short and long buying cycles is in the duration of this process. In short buying cycles, generally related to low-impact products. You quickly move from one phase to another. On the other hand, long purchasing cycles imply a high value investment . Which means that the consumer needs to carry out a more extensive decision process. The consumer needs time to meditate and rationalize the different options. So the period between the initial interest and the final purchase is longer.
Phases of a medium-long purchase cycle
The process begins when the company invests in creating a new high-value product or service . This product requires a considerable Panama B2B List investment on the part of the client. Which sometimes pays for a long time (for example, specialized software, a car or a house). The final customer of the product (either a final consumer or a company) is interested in acquiring it. But is aware that it is a decision with significant repercussions for its economy. Therefore, the research and decision-making process on your part is lengthened; we can be talking about a term of 3 to 6 months or more.
Characteristics of long sales cycles
The company detects the potential customer’s interest in the product and initiates a personalized nurturing and follow-up process , during Mobile List which it offers content of interest and clears any possible doubts or objections. Finally, the client closes the sale and the company recovers the initial investment with benefits. In turn, this makes it possible for you to continue investing in developing high-value products, and the cycle starts all over again.
