The Marketing Funnel: Step-By-Step Instructions!
While getting into marketing analytics, if you want to promote your business, you must have heard the marketing funnel. What are the marketing funnels, and how can they help you gauge practical promotional activities?
What is a “Marketing Funnel”?
The marketing funnel is a helpful tool to visualize the interconnected route for a customer where they can get through from branding to converting. It lets you get the process of converting leads into customers. The essence of grabbing the marketing shed light on wide prospective on acquiring the leads then nurture the lead into potential customers. It initiates the process from purchasing decision funnel down to these customers. Marketing Funnel encompasses the marketing process to engage as many customers as possible. It, therefore, makes your marketing funnel cylindrical. Simply making buying decision always goes through the marketing funnel process in the online platforms.
Some of the Marketing Funnel examples for prospective conversion can be like:
- Blog post > Email List >Conversion
- Facebook ad > Landing Page > Conversion
- Influencer Social Media Post > Landing Page > Conversion
The Illustration of the Marketing Funnel
To better gauge the marketing funnel, I intend to present an illustration to help you build your concept of how the marketing funnel works. It can entail the visitor getting on the eCommerce website to convert for making purchase decisions. Customers call into the website interaction and then deal with their desirable products. Let’s take an instance of the Amazon purchasing funnel.
- They visit the Amazon website,
- Then next is to have an insight on the products list.
- Once they finish the product overview, they add products to the cart.
- Finally, order placement finishes with the purchasing process.
Why Are Conversion Processes Known As Funnel?
Now while navigating the steps on the conversion, why are all these known as a Funnel? You will get many people initiating the process from its beginning. As people get more engaged on the next level, likewise the size of the interest candidates gets concentrated while getting complete involvement from the sales team in the purchasing decision.
You might feel bad about losing your customer, but not every individual will convert in the funnel. As the funnel goes down with the people merely interested in the website visitors, they will look no further in pursuing the conversion or purchasing process. You will find the most interested buyers to go further down the marketing funnel.
So if MarketingTeam wants to expand the funnel, indicating you have to cast a more extensive audience base with a boost in brand awareness or inbound marketing can let you drive more people to the website. It can eventually get the widened funnel because more people start to join in, which expands the customer base.
Investigate Different Funnel Designs For Better Conversion And Loyalty.
Gauging the focus on the marketing funnel can encompass various marketing campaigns. You can find different approaches for funnel down the essential steps in the business process: pay-per-click campaign, content marketing campaign, whitepaper download, or video or social media ads.
You can explore different funnels Like Sales Funnels, Webinar Funnels, Home Page Funnel, Email Funnel, Video Marketing Funnel, or Lead Magnet Funnels. Conversion funnels can track prospective customers irrespective of different funnel incorporation.
What Makes Marketing Funnel So Effective?
Marketing Funnel does not restrict creating customer awareness via company newsletters signup confirmation or its paid subscription. The funnel can help place it all over the website to check how visitors move through specific website navigational strengths. For objective determination, it is essential to constantly review the website visitors while creating a funnel after acquiring the insights data on impediments to business profit maximization for customer satisfaction.
Sometimes it’s called a leaky funnel due to gaps in the funnel to cater to the customers the marketing or sales intend to focus on for better profit prospects. So that’s where your marketing funnel is quite effective because it provides easy access to data in a comprehensive report to rectify where you are losing customers.
The Mechanism of Marketing Funnel for Customer Engagement
Let’s get on the marketing funnel and how each step can help you better understand its working mechanism.
- Lead Generation à Awareness
- Lead Nurture à Interest, Consideration, Intent
- Sales Generation à Evaluation, Purchase
Lead Generation Process involves the Customer Awareness. Prospective customers get to observe the Ads, Social Media Posts or hear from their friends. Now the question arises how can it help generate leads?
You will find marketing a critical factor in the lead generation process at the marketing funnel. Therefore, it lies at the topmost stage of the marketing funnel. Because the main objective in creating brand awareness is to grab potential customers to develop effective awareness marketing campaigns, consumer research can be the direct source of promotional activities.
Successful content can help you position your business as a brand leader. To acquire it successfully, for creating extensive customer awareness events, advertising, tradeshows, blogs, webinars, direct mail, viral campaigns, social media, and search media mentions are some of the contemporary most engaging mediums that earn significant viewership. The lead generation process takes on to lead management for nurturing down the funnel. Trust and thought leadership expand the vision and present a brand differentiated point of view to the audience.
Now comes the process of Lead Nurturing when you have finished your Lead Generation process. While pursuing the lead, you can gather the company overview with its products and in-depth information and research it. That opens an opportunity for the marketing team to develop a relationship with the customers with a lead database with customer positioning. It can lead to nurturing using emails, targeted content, and newsletters.
While nurturing the leads, the consideration process includes marketing prospects with in-depth information for converting them into potential customers. Thanks to the database of prospective customers, marketers can conveniently engage them by providing product information and offers through email campaigns while nurturing the targeted content, case studies, and free trials with much more exciting promotional incentives.
In the intent stage, prospect customers are interested in buying a brand product. The intent for its customers is visible in product demos, surveys, or product placement in the shopping cart on the eCommerce website.
The sales process initiates with the evaluation stage. The buyers are now ready to decide if they want to procure the products or services. The sales and Marketing team closely collaborate to nurture buyers’ decision-making process and help them decide that their product is the best choice.
It’s the last stage in the marketing funnel wherein prospect make their buying decision, adding to the company’s valuable customers. You can now observe the sale mechanism while carrying out the purchase transaction. A satisfying customer experience can then let you generate positive feedback as referrals stimulate the topmost part of the marketing funnel. Then the process starts from there again!