The Marketing Funnel
‘Marketing funnel’ is a concept that has been existing since marketing began. A marketing funnel depicts and describes the journey of a customer with a business. It starts with the first time a person comes to know about the business or a product and continues till the person turns into a loyal customer. A marketing funnel helps to create a customer-centric approach to marketing plans and can be customized for each business and according to the objectives. It also helps to identify the stages of the customer journey that you need to work on to create more conversions. The marketing funnel has evolved and has been reinterpreted many times as the business world advanced and several marketing strategies were developed. Now, in the age of Digital Marketing, many interpretations of the marketing funnel exist. The underlying concept of a marketing funnel remains essentially the same but the customers can take many paths to reach your business and it may not always be linear. Though there are different structures for the new digital marketing funnel, every structure can be divided essentially into three parts.
- The Top of the Funnel(TOFU)
This is where a person who has no knowledge of your business comes to know about your business through any source.
- The Middle of the Funnel(MOFU)
This is the stage where the user takes an interest in your business or product and considers it. They might also compare it with a competitor.
- The Bottom of the Funnel(BOFU)
This is the stage where the user converts to a customer by making a purchase or doing a specific action. This also involves turning them into your advocates by delighting them.
Each part of the funnel has an important role to play. A person only turns into a loyal customer once they have traveled through all these stages. Different digital marketing strategies can be developed focusing on each part of the marketing funnel to create more conversions.
What happens at the Top of a Digital Marketing Funnel?
The top of a marketing funnel is generally called the awareness or discovery stage. The objective of the top of a digital marketing funnel is to create brand awareness and find qualified leads. The customer first comes in contact with your business at the top of the marketing funnel. This might be through an ad, blog, social media, search results, or even through referrals. Creating a good first impression is really important when it comes to attracting people. People of different interests and tastes come in contact with your business. The number of users that decide to engage with your business and go down the funnel decreases with each stage. The users gain exposure to your business at the top of the funnel and you have to get creative here. You should make sure that you understand the needs and interests of your target audience first. You can create a good marketing plan that aligns with your business goals and with the interests of the users for attracting them.
How to Attract Qualified Leads at Top of The Funnel?
The top of the funnel is wider and you need to target a larger audience that might be interested in your business. You need to provide diverse, compelling, and easily digestible content to the audience. There are different platforms and digital marketing techniques through which you can reach out to your audience and find qualified leads. Some of the elements that you need to create a good impression at the top of the funnel are listed below.
Social media is where everyone is in the digital world and it is the easiest place to find people who are interested in your business. With a good social media marketing strategy, you can reach more people through different social media platforms like Facebook, Instagram, Twitter, etc. Social media is a place where you can establish personal connections with your customers. Influencer marketing is a popular social media marketing technique to reach a large number of customers faster.
SEO is important for keeping your website visible for anyone who is looking for the services and products that you offer. Most people search for a product or service online, read reviews and ratings before getting a product or service. So, by optimizing your pages and website, you can be visible to more people.
Good quality engaging blogs can always create interest in users. Educational and informative blogs can also help in creating qualified leads. Blogs also allow you to share details about the business and services you do. Blogging regularly on topics related to your business can help you get more customers that are interested in your services.
Video marketing is the most popular form of content marketing for creating brand awareness. They are very effective in reaching and engaging customers. You can create informational videos or how-to videos that your audience might be interested in.
Ads are the best way to reach people when they are looking for a service at the right time and place. Good Ads with compelling CTAs can be the first touchpoint of many customers. You can place your Ads on various digital platforms like search engines and social media on a pay-per-click model.
Lead magnets are used to create interest in users by providing free trials, demos, and other services and get the details of potential customers.
Creating the Right Plan for Top of The Funnel Marketing
To create the right plan for attracting new customers, you can research your customers and find more about what they want and what they are looking for. Segmenting or dividing your audience based on interests and preferences can let you reach them through various digital channels using the right strategies. This can create interest in users and lead them to your business.
Imagine that you are the owner of a bike accessories and repair shop that wants to find more customers. You can create a strategy to attract more motivated customers by combining any of the strategies mentioned above. You can write blogs about popular biking trails, create videos about new models, run social media campaigns to attract people who are interested. You can also run Ads on Google to let customers find you when they are looking for spare parts. There is a lot more you can do on the Top of the Funnel with the help of the right digital marketing strategist.
It cannot be guaranteed that every person that comes to know about your business goes to the next stage. You need to establish meaningful connections with the customers through every stage of the marketing funnel. It all starts at the top of the funnel where the customer first finds you. This is where you can find qualified leads for your business and nurture these in the following stages. So, it is important to have a wider mouth at the top of the funnel to attract the right audience that will convert to loyal customers. Through various digital marketing strategies, you can create the right plan for the top of your marketing funnel.