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The holiday season is upon us!
There’s nip in the festive air, and it’s raining discounts too!
‘Tis the season for customers to start wishlisting the things they fancy. It is also a foghorn for manufacturers and sellers to pull up their socks for the haul of customers that will throng to their shops and shopping apps. Time to get ready for shopaholics and their demanding sprees!
Whether you are a customer or a seller, everyone likes the idea of a satisfactory shopping experience because it builds trust and a psychological accord to shop again. But time and again, we come across unpleasant purchases as customers. It hits sellers harder when an ardent buyer wishlists their products but suddenly dumps them midway 🙁
If you’re an entrepreneur, chances are you might have been a victim on both of these occasions.
But did that stop you from continuing your journey?
No!
In fact, you grew to become intuitive. Distinguishing between facts and farce as a customer and pursuing and relying on the right customer for sales is what those experiences taught you.
But did you know that with the timely idea of a purchasing cycle, the same would have been a cakewalk for you?
Wondering what it is and how it works. Let’s explore!
What is a Purchasing Cycle?
A purchasing cycle is the 8-step procedure that is involved right from the need for a product to the after-buy experience tending back to the purchase. This cycle can help manufacturers, marketers, and sellers develop strategies to convert stray visitors into loyal customers and then some more.
The broad steps involved in this cycle are:
- Identifying the need
- Drafting a budget
- Choosing a purchasing team
- Stating specifications
- Researching variations
- Narrowing down options
- The act of purchasing
- Evaluation of the purchase experience
Seemingly ordinary, these little details can actually help minimize expenditure, efforts, and time.
Let’s take an example...
Imagine you plan on buying a pair of cool sneakers for New Year’s Eve. The need to appear crisp for the party might have been on your mind for some time now, and, therefore, saving to buy that one pair you have been eyeing would be in the offing.
Thus begins your search for the best footwear online or offline. The journey would have put you in consultation with your peers and fashion experts (friends) to help you rummage through the collection. This surveying would have finally narrowed it down to that one pair you got your whole heart on. Then all that remains is the card swipe, and a text that says:
Hold tight, love; we are getting your order confirmed! (Ain’t that cute?)
Once the order arrives, you get to test and judge your overall experience to determine your future expenditures.
The idea of the purchasing cycle has been here all along; it is, however, not acknowledged. At the same time, this organized process grants a satisfactory shopping experience.
Now, imagine the customer giving up midway either because of some miscommunication or the fact that your marketing efforts survived a fault that in turn developed apprehensions in their mind.
Possible, right?
So how do you maintain their zeal till the completion of the order? Well, you need a plan. A purchasing cycle, to be precise.
Templates to Tap the Ideal Purchasing Cycle
Focussing on how customers respond to various steps of a purchasing cycle, sellers can focus their team’s attention on the individual steps, devise the right strategies, engage in bulls-eye promotions, and make profit an everyday phenomenon for them.
Again, as the currency of this purchasing cycle, customers assert the role of whistleblowers for the community as they contemplate comparisons between their shopping experiences and set standards for the next ones.
Thus, recognizing the importance of a purchasing cycle, you might want to put it to practice. Here are the top 10 templates for you to make the most of the shopping season using the fair idea of a purchasing cycle.
Template 1
If you intend to make the most of this holiday season, you need to target your customer’s psychology when it comes to wishlisting. So warm up your marketing team for promotions and email/SMS marketing with this handy PPT design. Even when purchasing for your company’s needs, you must align with these defined steps to expend the company funds judiciously. Using this template, you can share proposals with the management regarding imminent purchases to gain their nod.
Template 2
This purchasing cycle template is another expressive way to present the flow of steps involved in material delivery. Consumers like industries and manufacturers need raw materials to work with. So they must devise a feasible strategy to make this everyday process smooth and avoid futile expenses alongside. Using this PPT template, they can define as many as 11 steps to guide their workers in converting material delivery requests into successful purchases.
Template 3
Here is another 8-step depiction of a purchasing cycle that you can use to track and organize invoice services and product catalogs. Use this PowerPoint template to regulate the purchasing cycle process from requesting to assessing feedback and configuration of the products and services acquired.
Template 4
If your procurement cycle involves shipping supplies, you can guide your workers with this 7-step cyclic process design. It covers aspects like identifying supplies, creating a bill, to finally receiving the package with its invoice. Additionally, these steps can be equipped with additional information to discuss this procedure in detail in this PPT template.
Template 5
If you wish to design a procurement/purchasing cycle for your management, here is a custom-made PPT template for you. Highlight the critical processes like strategic sourcing, contract management, requisition, purchasing, and so on using this 7-step cycle. This purchasing cycle layout also paves the way to analysis and assortment of suppliers.
Template 6
If you wish to convey the key points behind a fruitful purchase, use this PPT template to explain and exploit a functional purchasing cycle. The critical parameters of focus in this template are research, comparison, acquisition, retention, and awareness. These broad features ensure that a thorough investigation has been conducted before purchasing.
Template 7
Presenting another holistic PPT template to help explain the purchasing process in business organizations. Use this PowerPoint slide to identify the eight definitive steps of a purchasing cycle. Deploy this template in your business meetings to dissect the purchasing cycle for your audience.
Template 8
Here is another PPT design to represent the purchasing cycle for your business. Add the eight working steps in line with your purchasing process and highlight their importance for your organization. Whether you are defining a purchasing cycle for a restaurant or your startup, you can employ this PPT diagram to represent its essence from scratch.
Template 9
Here is another quirky PPT presentation that can come in handy in the raw material acquisition process. This purchasing cycle design begins with material planning, traversing through purchasing, inspection, storage, and finally, transporting the raw material to the consecutive processing unit. Use this ready-made PPT template to govern a regulated purchase with little or no wastage sidewise.
Template 10
Here is a frequently downloaded PPT template to simplify the concept of purchasing cycle while evaluating the supply material demands. Using the 5-step process diagram in this template, you can align your purchasing cycle from identification till supplier assessment to ensure a smooth flow. Edit the text, color, and orientation, and add the necessary company details to align it with your official documents.
Conclusion
Putting the purchasing cycle into action, organizations and individuals can expend judiciously. At the same time, this idea benefits the sellers who arm themselves with the right strategies to avoid ghost or stray customers. In fact, sellers can devise tactics to pursue their customers via email, SMS, or cold calling to maintain their purchasing fever, thereby sealing the deal.
So as we close in on the holiday season, it is time to put these PPT templates to use and tap into the shopping frenzy. Go ahead and get started!
P.S: Once you have figured out the ideal purchasing cycle, it is time to prepare a comprehensive marketing strategy. To get started, check out this guide featuring our choicest marketing plan templates.
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