Moidified Hierarchy-of-effects modeL
The hierarchy-of-effects theory is a model of marketing communication in terms of influencing a consumer's decision to purchase or not purchase a product. The theory was founded by two individuals Gray A Steiner and Robert J Lavidge, in 1961. Above is a modified version of Hierarchy-of-effects model with some added elements in the beginning and the end.
Cognitive/Logic: This is also known as the “thinking” stage, during which consumers learn about and become aware of the product. This may be viewed as a reasonable step in which pros and drawbacks, product features, etc. of a product are considered.
1. Attention: The process begins with gaining user/customer's attention. It is more of a trigger mechanism, which uses stimulator to seek attention of the customer.
2. Awareness: After repeat exposure to the stimulator, the customer/user becomes aware of the product's existence, and able to recognize it.
3. Knowledge: After recognizing, user tries to understand the product in detail, evaluate the features and benefits, and asses how it fulfills their needs.
Affective/Emotive: The “feeling” stage occurs when a consumer first develops a liking for the product, and even form strong positive (or negative) sentiments toward it.
4. Liking: At this point, the process has transferred from cognitive to emotional action. Customer appreciates the qualities possessed by the product, and establish favorable opinions about the product as a result of it providing emotional comforts.
5. Preference: At the preference stage, the customer compares the product with other competitive products and establish superiority over it.
6. Conviction: Conviction is the decision-making stage in which consumers’ positive feelings for a brand become an assurance to purchase. Company needs to encourage the conviction of potential customers at this stage.
Conative/Behavior: The customer enters the “behavior” stage of the process. After weighing all the benefits and drawbacks, combined with emotional conviction, the customer goes ahead and purchases the product.
7. Purchase: Customer makes the decision to purchase the product. It’s critical to provide a positive purchasing experience to customers.
8. Retention/Re-purchase: Purchase of the product is a one time activity. It must provide good experience during its usage over the lifecycle, to ensure that customer returns back to the company for the next purchase cycle. Product quality, reliability, and after-sales support play very important role here.
9. Advocacy: This is the last stage of the process, where the customer starts advocating the product to other users/customers. The Product must try to reach to this stage, in order to ensure its long-term sustainability.
Sales pitch
A Sales pitch is a well-crafted and packaged sales presentation used for pitching the product to customer.
While there is no common template to write a Sales Pitch communication in all the environment, it usually follows the following sequence:
1. State the Problem: Start with stating the problem the Customer/user would have had, which the product is targeting to solve. Include the data points as much as possible. This serves the 'Why' of the product.
2. Present the Solution: Briefly state the solution we are offering? This serves the 'What' of the product.
3. Describe the Value proposition: Talk about the benefit, which the customer/user will be able to realize from the product. This is the most important part of the Sales Pitch.
4. Testimonial: Provide testimonials about the product from other users or influencers. Who all have used the product and how have they been benefited.
5. Offer a Call to Action (CTA): Close the Sales pitch with a Call to Action statement such as "please buy the product", "consider our product for further discussions" etc.