Marketing Funnel Development Services
The ultimate goal of most marketing funnel strategies is to increase sales,
but it’s also crucial that you capture the attention of your target customers throughout all marketing funnel stages.
If you’re in the process of reviewing your current marketing strategy, you haven’t been getting the results you desire, or you’re looking for ways to up your game and increase sales, it might be time to experiment with marketing funnels.
Still confused about what a marketing funnel is and how it can be leveraged in your marketing strategy? Read about the five components below.
What are marketing funnels?
Similar to how a physical funnel distributes a liquid from top to bottom through an open entry point to a smaller exit point, a marketing funnel also follows the journey of a customer from top to bottom.
The marketing funnel stages are centered around completing one step at a time, and based how the customer responds to the message they are taken through the next appropriate funnel stage. It’s important to be adaptable and have targeted messages planned for all types of customer response.
5 Marketing Funnel Stages:
A marketing funnel is outlined by five key steps that are designed to help you improve your sales and generate more profit:
- Awareness
- Consideration
- Conversion
- Loyalty
- Advocacy
As you move from one step to the next, the probability of the customer buying your product and using your business again increases. At level 1, there’s a higher chance that your buyer will drop out. By the time they reach stage 4, the risk is much lower, and the odds of them moving to step 5 are greater.
In addition to enabling you to design and implement sales and marketing strategies that work, the funnel system also provides an opportunity to analyze your performance. If you’ve got a large proportion of the people in the funnel moving right down to level 3, but you’re not seeing further results, this indicates that you need to do more to keep hold of clients who have bought from you before.
Analyzing the marketing funnel stages
Now that we know what the different stages of marketing funnels are, let’s dive into how each stage relates to your business’s marketing strategy.
Awareness
At the awareness stage, potential customers are likely to have limited knowledge of your business and the products or service you’re trying to sell.
The aim is to raise awareness of your brand, inform buyers about who you are and what you do, provide information about the benefits of your products or services and to lay the foundation for a future relationship.
You want customers to take an interest, but leave them wanting more, which encourages them to move to the next stage of the funnel.
Consideration
If a customer chooses to progress from stage 1 to stage 2, this indicates that they have at least a small amount of interest in your business.
Now is the time to work on your relationship, provide more information about the product or service in question, and really take an interest in your prospective client.
Get to know them, and be prepared to provide them with valuable information. Answer their questions and queries so you can offer solutions to obstacles or issues that may present.
Conversion
By the time your customer reaches stage 3, they’ve developed an active interest in your product, they know about your business, and are ready to make a purchase decision. The key lies in being able to persuade them to buy from you over their competition.
This creates an opportunity to showcase your brand, upsell your unique selling point (USP) and go the extra mile to ensure that your customer doesn’t exit the funnel. Highlight the benefits of your products, explain what makes you different, and gently encourage your customer to sign on the dotted line.
Loyalty
You’ve closed the deal and the money is in your bank account. Now, you need to turn your attention to retaining your customer.
Many businesses go all-out to impress new clients, and they forget about their existing customers. Once you’ve got a client on your books, make it your mission to ensure they buy from you again and again.
This is a great time to roll out a customer loyalty program, which enables you to offer discounts, offers, or reward points every time customers shop.
Advocacy
A growing number of customers today rely on online reviews, testimonials, and the experiences of family and friends when deciding which brands to purchase from. Encourage and incentivize your loyal customers to become advocates of your business by spreading the good word.
You can offer further discounts for those who write 5-star reviews or a free product for those who refer a friend. Encourage feedback and generate consistent referrals and recommendations through word of mouth and your online presence.
Marketing funnels for your business
Now you know what a marketing funnel is and how they run through 5 primary stages. Effectively following the stages of the funnel enables businesses to improve the customer journey and learn more about potential buyers to streamline the sales process.
Marketing funnels provide additional insight into your campaign performance. For example, if you’re sailing through the funnel and a large proportion of customers completing the journey, this indicates that your initiative is working. If you’re struggling to get to stage 3, this might highlight a problem with lead conversion, and you can leverage data and feedback to identify problems and implement effective solutions.
If you run a business and are looking for a new way to drive sales, convert leads and retain customers, consider strategic marketing funnel development as a solution.