But although the main stages of the journey are similar, not all purchasing cycles are the same. Some products are characterized by short purchasing processes, while in others the decision-making process takes much longer. In this article we are going to talk about the latter: long sales cycles .
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Long purchase cycle, what it is and the best marketing actions
What is the long purchase cycle?
In marketing, we refer to the process that a consumer goes through from the moment a need arises until it is resolved by acquiring a particular product or service as the “purchase cycle.” Throughout this process, the consumer goes through different stages : first, he or she becomes aware of the need, then he or she investigates and considers different ways of solving it, then he or she decides on one of these ways and finally makes the purchase.
The difference between short and long purchase cycles is the length of the process. In short purchase cycles, which are generally related to low-impact products, the consumer moves quickly from one phase to the next. In contrast, long purchase cycles involve a high-value investment , which means that the consumer needs to carry out a longer decision-making process. The consumer needs time to think about and rationalise the different options, so the period between initial interest and final purchase is longer.
Phases of a medium-long purchase cycle
Let's take a closer look at the typical phases of a long purchasing decision process:
The process begins when the company invests in creating a new, high-value product or service. This product requires a considerable investment from the customer, who sometimes pays for it over a long period of time (for example, specialized software, a car or a house).
The end customer of the product (either a final consumer or a company) is interested in purchasing it, but is aware that this is a decision with significant repercussions on their finances. Therefore, the research and decision-making process on their part is lengthened; we can be talking about a period of 3 to 6 months or more.
The company detects the potential client's interest in azerbaijan phone number resource the product and begins a personalized nurturing and follow-up process, during which it offers them interesting content and clears up any possible doubts or objections.
Finally, the customer closes the sale and the company recovers the initial investment with profits. In turn, this makes it possible to continue investing in developing high-value products and the cycle starts all over again.
Medium and long purchase cycle
Characteristics of long sales cycles
Long sales cycles can occur both for B2B products and services , which are often complex and high-value (e.g., industrial machinery or CRM software ), and for B2C products or services that require a significant investment and have a large impact on the consumer's life (e.g., cars or real estate).
The most defining characteristic of long sales cycles is that the decision process is more extensive and thoughtful than for products with a short purchase cycle. In addition, although there is one person in charge of making the final purchase decision, this person is usually consulted with others, for example, with the rest of the team members in the case of B2B purchases and with other members of the household in B2C products.
