Buying Signal

Behavioral cues indicating a prospective or existing customer’s intentions in terms of their readiness to buy is called as Buying Signal. This helps in making sales process more efficient and high-yielding than before.

Companies often rely on tolls like leading scoring, predictive analytics and account-based marketing (ABM) technologies to identify buying signals. It is often triggered by a change in a customer’s attitude or behavior. For example, a company which signed a lease just now to rent office space in a building and hired a CIO may demonstrate the right buying signals to show that t is ready to buy server hardware or networking gear. In this example, buying signals may not be directly related to the product or service but indicates the prospect’s readiness based on secondary factors.

While companies might have enlisted tools previously like direct mail or cold-calling to identify new prospects, other tools like analytics and ABM can be used to identify a more targeted prospects’ audience.

Another important component to gauge buying signals is to check a customer’s journey. Companies must evaluate where the customers are exactly in the buying journey i.e., if they are in the research phase, or evaluating phase or at a buying decision phase. This information is taken to tailor their information and to build communications accordingly with the prospects.

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