7 Defining Characteristics of a ‘Considered Purchase’

I recently ran into a friend at a funeral who was a colleague on the Media Growth Executive Peer Group with me for many years. Several years my senior, Tim Fixmer is among the leaders I most admire in the business-to-business (B2B) marketing world. He runs a successful B2B group business in Cedar Rapids, Iowa, named CCI Media LLC. Incidentally, he “cut his teeth” on a magazine brand that is now part of Lessiter Media’s portfolio.

As we discussed the many changes in marketing over the last 3 decades, he reminded me of the “considered purchase” concept, and the role of the B2B magazine in impacting decision-making units (DMUs).

While a lot of things have changed in the makeup of the equipment and supplies industry (number of players, sizes of players, manufacturing systems to name a few), Fixmer maintains that it’s the process that matters nowadays. “What hasn’t changed,” he says, “is the complexity of the sales environment for machinery, software, systems, and support to these customers and prospects.”

At that funeral luncheon, he reminded me of the concept that he, and his customers firmly believe in. I wanted to share it with you too. Here it is, mostly in Fixmer’s own words:

Tim Fixmer

CCI Media LLC

The Considered Purchase

The system of buying and using machinery, equipment and supplies includes all of the 7 characteristics of a “considered purchase” that act together. Tim reminded me how sales teams must be engineered with an understanding of this concept and supplied with the resources to fund the time and activities to address all the issues.

A considered purchase is a complex buying decision of financial impact: risk and reward. This process requires meaningful investigation and comparison by key decision-makers and influencers prior to a transaction. All purchase decisions fall along a spectrum of complexity and consequence depending on the variables and relevant information involved. Unlike an online impulse buy, a considered purchase typically has a long purchase cycle and significant consequences. Considered purchase decisions exist in both the consumer and commercial realms involving both products and services.

To help illustrate what exactly to be on the lookout for, check out this infographic that outlines what Fixmer shared are the 7 defining characteristics that all considered purchases have in common.