What does Buying signal mean in marketing terminology?

Buying signal

A buying signal is an indication that a shopper is considering making a purchase. It is a signal which gives a seller insight into what the buyer is prepared and likely to do. It is a signal that alerts sellers to take steps to engage with and urge a customer towards conversion.

One of the primary objectives of marketers is to understand the buying signals, micro-moments, and customer intent of each click, search, and behaviour across a person's entire journey and all organisational touchpoints so that the experience is contextually relevant, engaging and valuable for the customer.

Selling online is a complex process, and a key aspect of success is being able to identify the buying signals that customers display when they're ready to make a purchase. Understanding these buying signs will help sellers to communicate with customers at the right time, with the right offers, product suggestions, and support.

Some of the most common buying signals to look out for include:

- Standing out from the competition: When a customer is looking for something specific, it's important that your store stands out from the competition. This could be through a strong brand identity, eye-catching design elements, and easy-to-navigate features.

- Product recommendations: Suggesting related products that customers may be interested in based on their searching and browsing behaviour is a great way to encourage customers to explore more items and potentially add more products to their shopping carts.

- Customer engagement: A customer is more likely to convert to a paying customer when they’ve engaged with your company. This could be through email marketing campaigns, in-store events, customer surveys, or customer reviews and feedback.

- Social media presence: Creating an active social media presence and marketing channel will enable customers to learn more about your store, as well as view customer reviews and photos. You can also use social media to promote new products and launch campaigns.

- Cart abandonment follow-ups: Follow up emails for abandoned shopping carts are a must for any online store and can be used to promote special offers and sales.

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- Price responsiveness: Following pricing changes from competitors is essential, as any change may drive conversions from customers who are looking for value for money.

- Scarcity and urgency: As customers expect to find the best deals online, creating a sense of urgency can be an effective way of driving sales. Utilising sales, discounts, exclusive offers and limited time offers can be effective in prompting customers to act quickly and make a purchase.

- Refund and loyalty policies: Offering customers a clear refunds policy and loyalty scheme is essential. This will also help to increase trust, as customers need to know that if something goes wrong, they can get help and their money back.

- Product demos and trials: Demonstrating how a product works, or allowing customers to try the product before buying it will increase the likelihood of them making the purchase.

- Content marketing: Content marketing can be used to increase awareness of a brand and its products, as well as create visibility for a website. Content such as product reviews, buyer's guides, and customer stories can all be used to educate and attract customers to a website.

By understanding and knowing how to identify buying signals, as well as what actions to take in response to them, sellers will be able to provide customers with the best experience and get them to make a purchase.

Good customer experience and engagement during a customer’s journey should also be among the key qualities of your store. Taking the time to understand customer needs and interests is essential, and will ensure that customers receive tailored support, product recommendations and targeted offers, which are all helpful for increasing conversions.

It's also important to consider the customer journey and ensure that your store is optimised for all devices, including mobile. This should include ensuring the website is fast and secure, and that the buying process is simple with minimal distractions.