Video Transcript: High Consideration Purchase Consumer Journey Part 1
Have you ever thought about high consideration purchases and how that affects your business? Welcome to episode number 106 of The Great Reset. My name is Robert Brill and I'm the CEO of BrillMedia.co.
We're an advertising firm that drives sales and leads with the best data targeting and tech available in the marketplace. And we're here five days a week talking about marketing and advertising so you can be a better marketing practitioner. In the last video, we explored low consideration purchases.
And it's hard to really know all the ways low consideration purchases are driven by individual consumer experiences or consumer journeys. So at the end of the day, low consideration brands must piece it together and do marketing and persuade consumers with general directional knowledge. On the contrary, high consideration purchases from big brands would be a bigger buy.
So let's talk about that. These are often showing a much more defined purchase process, which really means to me that as a marketer, we have more knowledge about the steps that people take before they actually buy a high consideration purchase. So these are ones that are more expensive.
They're harder to change or the purchase has larger overall consequences to one's life. So, for example, a high consideration purchase can be any of the following things. Buying a car, buying a computer, a TV, a home, getting braces, choosing a dentist, choosing a customer relationship management solution, choosing a bank or even buying a grill.
Once you buy, you don't change for a long time because the process either takes too long. It's not financially feasible or it's just a just a lot of work that you don't want to deal with. So and as a side note, what I think is really interesting is about some of these categories.
Television buying used to be a high consideration purchase for some people, including me when I would buy a television because I cared so much about that experience. I would spend a lot of time researching televisions and what I found out over the years and maybe just a function of age. I think it has become recently for a lot of people a much lower consideration purchase.
The price came down. It's hard to buy a bad TV these days. And because at almost 40, I bought so many of them.
I know that I can I cannot go wrong with a lower cost vision. So in 2020, I'm treating I'm treating a TV purchase closer to a chocolate kisses purchase from Hershey's. So lower consideration than I am to a car purchase, right?
A car purchase, I'm spending a lot of time. I'm going to the process. I'm reading a lot.
Televisions, I just kind of like stick with what I know and it works for me. Now, when you look at high consideration purchases for big brands, there's often a much more defined process. If you look at car manufacturers, they really have a good sense of the signals and triggers that catapult a consumer from one phase to the next.
Car brands tier up their marketing process into three tiers. And each tier has a lot of control over the sales process because each process is so the totality of the process is such a high consideration purchase. Right.
You buy a car. It's you often pay for it for anywhere from two to five years. You spend a lot of time thinking about it.
You mull it over. You do a lot of research. So the core idea for high consideration purchases is that because of the nature of what you're buying, it gives you and it gives the marketer an opportunity to understand where the consumer is in the purchase process, which allows much more control during the marketing process.
So we'll stop there tomorrow. So we'll go dive deeper into the high consideration purchase consumer journey. Now, if you found this video helpful, please give us a like and let us know you like what you're, what we're doing for more videos like this to help you be a better marketer or subscribe and hit that notification button.
And if you want to bypass all the learnings and go right into the lead generation part of the process where you're getting daily leads coming in so you can build your business. It starts with our $497 marketing diagnostic. We interview you about your marketing, economics, and clients, and lay out the strategy that positions your company as the inevitable choice. We'll see you tomorrow on another episode of The Great Reset.
