What is Marketing funnel and how to create it?

September 17 , 2021

You have a marketing funnel whether you realize it or not. Many businesses do not understand what a marketing funnel is or how to measure it. In fact, almost 68 percent of businesses are unaware.

If you have a fantastic product or provide a fantastic service but are having trouble generating leads or closing sales, you should look into the marketing funnel. This post can help you maintain and even grow sales if your business is doing well and you haven’t looked into your marketing funnel.

If you take the time to arrange this strong marketing tool, it can dramatically improve sales. You will be able to consistently acquire new leads, convert them into purchasers, and boost your company’s revenue with a correctly structured funnel. These standards apply to you regardless of whether your business is exclusively online or has a physical location.

Ecommerce website developers in India offer satisfactory solutions to various business types keeping in mind the marketing funnels.

What is a Marketing Funnel?

The buyer’s journey can be compared to the marketing funnel. It’s the journey your visitors take to become paying customers after discovering you. The funnel is merely a visual metaphor for simplifying the subject.

A funnel is a cylinder with a broad opening at the top and a tiny opening at the bottom. Physical funnels are used to manage and divert liquids from one source to another without spilling. In the same manner, you want to leverage the marketing funnel to guide your customers from being casual visitors to being devoted customers. Although the factors differ from one company to the next, the basic ideas and methods stay the same.

Stages of the Marketing Funnel:

Stage 1: Awareness

Brand awareness refers to a person’s knowledge of a company’s name, messaging, tone and style, values, and culture. Consumer research is the starting point for brand awareness, which entails enticing clients to a brand and assisting them in recognizing and remembering it. The idea is to keep the brand in front of customer’s minds by using appropriate consumer touchpoints along the buying path.
Brands want to be in front of consumers where they are to raise awareness. This could involve linear and streaming television, digital advertising, audio ads, social media campaigns, content marketing, and more. Eighty-four percent of online shoppers start their product searches on non-traditional digital media.

Stage 2: Consideration

Consideration marketing tries to enhance the likelihood that customers will think about a brand and its products when making a purchase. Consumers should receive marketing messages that treat a pain point, emphasize an interest, or answer a question.

Customers are seeking to get to know a brand and figure out what sets it apart from similar brands at this point. During the consideration phase, brands should educate and inform clients to assist them in understanding how your product or solution satisfies their needs.

Stage 3: Conversion

The conversion stage’s purpose is to persuade customers to buy a product or service because they believe the brand they’ve chosen is the best answer to their problem or fits their requirements.

This step, also known as the “decision” or “buy” phase, is a brand’s chance to invest in a plan that will help them stand out in their category and differentiate themselves from competitors. A well-detailed online product page, as well as an amazing customer care experience, are critical during this phase to instill customer trust in their purchasing decisions.

Stage 4: Loyalty

By creating a frictionless buying experience and delivering a high-quality
product or service, brands may develop loyalty. Brands can stay top of mind for shoppers by following up and cultivating interactions with customers after they make a purchase.

Effective engagement marketing, such as email nurturing campaigns, social media activations, and loyalty programs may be very effective when it comes to creating brand loyalty with customers. At the end of this stage, the goal is to have gained loyal, satisfied clients who will become brand ambassadors and long-term customers.

Marketing Funnel Strategies

To make your specific funnel work for your business, you’ll need to find out the right mix of tools and strategies. Consider the following recommendations to optimize your marketing funnel when you’re ready to create a strategy.

  • Make Use of Marketing Automation

Marketing automation aids in the generation of viable leads, the tracking of user engagement, and the nurturing of prospective prospects. Marketing automation technologies help your marketing team to reliably make data-driven decisions without experiencing information overload, in addition to automating recurring marketing operations.

Look for a solution that interacts with your CRM to offer your team accurate customer information in real-time, allows you to personalize each step of the customer journey, and allows you to target leads with the material they’re likely to enjoy.

  • Practice Lead Scoring

In order to maximize ROI from your sales and marketing efforts, you’ll need a clear, consistent approach for evaluating which leads are most likely to convert once they’ve entered the funnel. This is when lead scoring — a ranking system that rates the worth of each lead — comes in handy.

A numerical score is assigned to potential consumers based on the estimated value they represent. Lead scores should be calculated based on a number of important elements that come together to provide an optimum lead profile.

  • Produce a Healthy Mix of Contents

Different types of leads will respond to various types of content. You’ll miss out on prospects looking for longer-form content like eBooks and white papers if you solely give blog entries. Leads that prefer visual offers such as videos and live streaming will overlook you if you simply generate written content. You can appeal to a wider spectrum of potential clients with a decent balance of information.

When creating content, keep in mind that your primary purpose should be to engage and inform rather than to sell. Few people will interact with content that is nothing more than a long sales pitch. Instead, include relevant calls-to-action (CTAs) in strategic locations across your content. If a lead is at the interest stage, informative blog entries that mention relevant items or services in passing would be beneficial. When a prospect gets to know you and trusts your viewpoint, they’ll be more open to your CTAs.

  • See How Customers Move through Funnel

When you map out the customer journey, marketing and sales will be able to communicate more effectively than ever before. Both teams speak the same language and may use the same data and tactics to determine when a lead should be moved down the funnel or returned up the funnel for trust-building and nurturing. When marketing and sales teams collaborate, each level of the funnel becomes tenfold more effective.

When mapping the client path, you must strike a balance between your ideal lead and real-world outcomes. Keep an eye on how leads interact with your material and how they act during exchanges. Don’t be hesitant to ask questions; previous customers or leads who depart the funnel are typically open about what they’re seeking and how their experiences influenced their decisions in your funnel.

  • Optimize your Marketing Funnel

You already know that a marketing funnel strategy may be an effective framework for growing your company. Not only does it make sense in today’s omnichannel journey, but it also gets higher results throughout the funnel, including up to three times more brand recognition, twice as much consideration, and two times as many transactions. In fact, there are many best eCommerce website developers in India who can aid you with your website creation.

  • September 17 , 2021
  • Rushik Shah

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