Marketing is a process, a set of activities that helps products or services to reach their potential customers. It can involve different steps like research, promotion and selling.
As we know, marketing is not a single task but a set of predetermined tasks to achieve a final goal. This is why every step involved in it is to be carefully analyzed for efficiency. This is where marketing funnels become useful. Let us explain in detail what marketing funnels are? And how they can be useful for a business.
Overview on Digital marketing funnel
A marketing funnel is the visualization of the processes a user has to go through to achieve a certain goal. This end goal can be a purchase or the activities that we want the customer to do.
A lot has changed since the first marketing funnels were introduced. The modern face of marketing, which is digital, has given us a wide range of opportunities for businesses. Marketing funnels are also evolving with the changes in these technologies. A modern digital marketing funnel includes mostly 5 stages:
In the awareness stage, you can make the customers aware of the product or service that you offer. You can protrude your brand and products the way you want them to be perceived by the customers. You can use marketing channels like social media, SEO, PPC, video/audio marketing etc to improve awareness.
In this stage of the marketing funnel, you should take care of addressing customer pain points. This stage is the starting point at which the customer interacts with your brand. As the customer gets to know you better, we should also focus on knowing the customer better too. Get deep insights into customer demographics like who they are, where they are coming from, what is their purpose of visit and how they get to know you. Understanding these insights are crucial when going further down the funnel.
When a customer is in the consideration stage of the marketing funnel they will be making the decision. They think. Here, you can use all your data from the previous stages and let the customers know how you can help to solve their problems and why you are better than your competitors. You should focus on building customer trust. During the consideration stage, a customer can either consider or leave you.
In the purchase stage, a user is converted to a customer. They are aware of what you have to offer and they buy your product/service. However, you have to make sure the customer is not facing any difficulties and is having a smooth transaction during the purchase. Make sure that the website is loading fast, it has proper CTAs, there are no transaction errors etc… Also, you can flaunt about delivery policy, customer support and other offers. It is all about communicating clearly.
Retention or Post Purchase Experience:
We can say retention is more important than conversions. This is because rather than having a one-time customer it is better to have a customer who comes back to you every time they want to buy something. These loyal customers can later turn out to be advocates of your products or services.
One way to retain these customers is to run remarketing campaigns. Before that, you will have to recognise these customers, build a good relationship with them. This is a long term strategy but it’s worth it without a doubt.
ToFU, MoFU and BoFU users
Don’t get confused by the abbreviations. Digital marketing funnels can be explained in different ways. In this, the whole process is broadly classified into Top of the funnel (ToFU), Middle of the funnel (MoFU) and Bottom of the funnel (BoFU). These three stages include awareness, consideration and purchase stages respectively.
Different types of marketing funnels
The types of marketing funnels depend upon the goal that the business wants to achieve. You can set these goals as selling a product or service, promoting events or just adding a list.
The most common types of marketing funnels are sales funnels. There are also different marketing funnels:
- Lead funnels
- Email marketing funnels
- Video marketing funnels
- Social media marketing funnels
- Webinar funnels
These funnels are developed and measured according to different needs or goals. Sometimes one of these funnels incepts inside another funnel to lead to these goals.
Apart from that, you can set funnels within your website too. They can be tracked using Google Analytics. For example, if you want your user to go to a particular page and do some actions there and then come to the checkout page, you can set the user flow like that and track conversions for the same using the path that you set.
Advantages of marketing funnels
A funnel tracks the step-by-step activities of a user journey. The major benefit of having a marketing funnel is that you can visualise and track the whole process of your customers. This lets you understand them better. A marketing funnel will help you to understand the stages that require more attention and give you a clear idea of where to improve.
Another advantage of a digital marketing funnel is that you can save time and money. A marketing funnel can be completely automated. Also, the marketing funnel can be modified according to the changing needs. This will result in a more refined version of the funnel.
Finally, the data that is obtained from the marketing funnel can be used to understand the target audience and improve the marketing strategies. To sum up, the advantages of marketing funnels include:
- Understand customer journey
- Measure & optimize areas of improvement
- Nurture leads
- Create a space to experiment
- Save time and money
How to create a digital marketing funnel?
So, we have come to this. Creating a marketing funnel is not so difficult. Let’s dive into that.
The first thing that you have to understand is customer behaviour. Not just any customer behaviour. But, the customer behaviour of the people that are going to use your products or services. This is the building block. This data is used to channel the next stages in the funnel. So, make sure you get this data correctly. Build a good user persona.
In the next stage, you can find out the different ways by which you are going to attract the target audience’s attention. You should be able to catch attention either by organic means or paid. Before picking the platform that you are going to show up make sure that your audience is there too. You can use SEO, Social Media, Paid Advertising etc depending upon your business. Make sure that the data is always measurable.
After the user is lured in, you have to make sure you are providing the best experience for the user. If the user is going to reach your website at this stage, check if it is the best one. Focus on building a beautiful landing page, improve the responsiveness, carefully pick the CTAs and make the transactions smooth. As always, track these processes with the help of tools like Google Analytics.
Finally, it is the time to delight them. The users have already become your customer. Now you should acknowledge the ways that you can retain these customers. Create a perfectly cut strategy to delight your customers, foresee the customer needs and empathise and empower the customers.
Let’s wrap up
A marketing funnel is an unavoidable factor of any digital marketing strategy be it small or big. Understanding the funnel will help you to effectively track and analyze the entire customer journey and ways to improve it. This framework can be tweaked and scaled up according to the needs of the business. This is why every business should keep a digital marketing funnel to achieve their final goals.