Mastering the Marketing Funnel in the Social Media Age

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This is a presentation that I did for the lead referral group at the Greater Derry & Londonderry Chamber of Commerce. It discusses how small businesses should be considering the Marketing Funnel in …

This is a presentation that I did for the lead referral group at the Greater Derry & Londonderry Chamber of Commerce. It discusses how small businesses should be considering the Marketing Funnel in their online marketing efforts, and strategies that they can use to better lead customers and prospects to the ultimate goal in the funnel: Advocacy.

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  • I'm not sure I believe what you're saying :)
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  • @fixyoursnow Thanks John, I'm glad you liked it! I agree, testimonials are vital to an online presence. The challenge is making sure that they are believable, in a world where people are very mistrusting of online identities.
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  • Well done! I first got acquainted with the marketing funnel several years ago through Jeffrey Gitomer, an awesome sales guru. This application of the principal focuses more online, as it should. Great points on advocates, considering that advocates still are the most effective offline method of promotion too, although they often combine online and real world methods. This is also the reason why we stress the importance of testimonials.
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  • 1. MasteringtheMarketing Funnelin the Social Age presented by:Copyright © 2012 108 degrees, llc. All rights reserved.
  • 2. contents what is the awareness consideration preference action funnel? loyalty advocacy your funnelCopyright © 2012 108 degrees, llc. All rights reserved.
  • 3. what is the funnel the marketing funnel Sometimes referred to as the ‘purchasing funnel’, it is a model that illustrates the theoretical customer journey towards the purchase of a particular product or service Developed in 1898, it has evolved today to a 6-step process that is enhanced by today’s social media and digital revolutionCopyright © 2012 108 degrees, llc. All rights reserved.
  • 4. what does your funnel look like? your marketing funnel As we go through this presentation, think about what YOUR marketing funnel looks like. Ask yourself: • How is my marketing process represented in each area of the funnel? • Does my process in this area of the funnel contribute to the end goal? • What could I do to make my funnel more effective?Copyright © 2012 108 degrees, llc. All rights reserved.
  • 5. awareness brandCopyright © 2012 108 degrees, llc. All rights reserved.
  • 6. brand awarenessWhere prospects find your brand broadcast search In the old world, broadcast or website, mobile, seo tv, radio, outdoor “outbound” marketing was the only way to build awareness where is your first Today, you have many more and touch? more effective options for building prospect brand direct awareness buzz blogs, rss, inbound social media, pr campaignsCopyright © 2012 108 degrees, llc. All rights reserved.
  • 7. search is king (even with social ) search engines are the first source of information for nearly all of today’s consumers, both B2B and B2c • As social and search become even more interconnected, your funnel needs to take advantage of the opportunities that search offers. • Think about how SEARCH affects awareness of your brandCopyright © 2012 108 degrees, llc. All rights reserved.
  • 8. considerationdirecttouchCopyright © 2012 108 degrees, llc. All rights reserved.
  • 9. experience with your brandAs a prospect considers a purchase, they begin to research theproduct or service, this is generally done online, especially withreviews from trusted sources, even if the review is done by a stranger consideration researchCopyright © 2012 108 degrees, llc. All rights reserved.
  • 10. where is this consideration done?onlineWebsites likeAmazon.com that online marketing information interaction discovery materialsprovide independent online research anonymous user reviewsevaluations, Yelp that product sites email newslettersshowcases member independent review websitesreviews and others consumer groups online blogs and support forumswhere a prospect cananonymously research user forumsthe opinions of othersCopyright © 2012 108 degrees, llc. All rights reserved.
  • 11. where is your presenceas the customer is considering brands? twitter facebook search blog presence or articles youtube email linkedinCopyright © 2012 108 degrees, llc. All rights reserved.
  • 12. preference comparisonCopyright © 2012 108 degrees, llc. All rights reserved.
  • 13. comparisons lead to brand attachments Customers now turn to brand known sources for information: • Social media platform right connections choice • Local search opportunities • Seeking perspective of trusted trusted individual sources about the brand contacts • Brand attachments formed based on informed, trusted opinionsCopyright © 2012 108 degrees, llc. All rights reserved.
  • 14. what comparisons can be madeabout your brand online As the customer compares • known users your brand to others, the your brand • online opinions • brand reputation opportunity for brand preference arises Your online presence, especially as it relates to other • known users social connections to the • online opinions brand • brand reputation customer, can greatly influence that preference decisionCopyright © 2012 108 degrees, llc. All rights reserved.
  • 15. action purchaseCopyright © 2012 108 degrees, llc. All rights reserved.
  • 16. purchaseToday purchases can happen in many places: • In a store or physical location • Via online store access on the computer • From the smartphone • Via a tablet device • Through a social action service like Groupon or LivingSocialCopyright © 2012 108 degrees, llc. All rights reserved.
  • 17. where can customers purchase from you?The easier it is Online Smart Store Phoneto purchase, Quick Impulse buys Convenient Busy usersthe more likely Private Social Sharingthe customer Brick & Social Mortar Actionwill take that Traditional Easily understood Discounts/dealsaction Social = Volume Personal brand touchCopyright © 2012 108 degrees, llc. All rights reserved.
  • 18. loyalty rewardCopyright © 2012 108 degrees, llc. All rights reserved.
  • 19. rewarding loyaltythe relationship with the customer doesn’tend with the sale... crm online community rewards loyalty-based email follower ongoing encouraging social database marketing allow users to programs than communication to to keep ongoing incentivize repeat follows with benefit connect to each develop programs touches other purchases relationshipsCopyright © 2012 108 degrees, llc. All rights reserved.
  • 20. how do you reward customer loyalty? post-sale satisfaction programs email social • Thanks for • Satisfaction • Incentivize • Tips, tricks, • Follower business surveys repeat ideas and specials purchases advice for users • Post-sales • Ongoing • Incentives to follow up opinion • Encourage • Regular share solicitation frequent promotions information • Regular touches upgrades with with their rewards contacts • Lead toward advocacyCopyright © 2012 108 degrees, llc. All rights reserved.
  • 21. advocacybrandadvocatesCopyright © 2012 108 degrees, llc. All rights reserved.
  • 22. what is a brand advocate? brand advocates are customers who talk favorably about a brand, product or service and then pass that positive word of mouth message to other peopleCopyright © 2012 108 degrees, llc. All rights reserved.
  • 23. why do you want advocates? Highly Large Impact Active Networks Purchases Advocates Advocates have more Advocates use online recommend brands contacts tools that drive more Advocates average 200 - 450 purchases people in their social networks32% rec more than 10 brands/year Advocates use email the most (57%) 18% have over 500 contacts but also use social media, blogs and Average advocate rec’s 26x/year third party sites to rec brandsCopyright © 2012 108 degrees, llc. All rights reserved.
  • 24. how advocates impact a brandpercentage of users that take action when an advocate recommendsbrands to themconsider buying rec’d brand 61 buy the rec’d brand 22 don’t know/no action 17 0 18 35 53 70Copyright © 2012 108 degrees, llc. All rights reserved.
  • 25. who are your brand advocates?do you Bobby Amandacurrently Doe Company Executive Doe Homemakerhave any Long time customer Has referred 3 new who has repeat customers this year purchases alonebrand Jesse Marvinadvocates to Doe Doe Small Business Owner Consultantwork with? Blogs about how your Recommends your product/service has product/service to helped his business clientsCopyright © 2012 108 degrees, llc. All rights reserved.
  • 26. your marketing funnelHow do you: • Build brand AWARENESS in online media? • Ensure that your brand makes it to the CONSIDERATION phase for a potential customer? • Help your prospect compare your brand to the competition to find their PREFERENCE? • Let your customer take ACTION to purchase? • Build LOYALTY with customers that have purchased your brand? • Develop ADVOCACY with your existing customer base?Copyright © 2012 108 degrees, llc. All rights reserved.
  • 27. Looking for more ideas? Private Consults Profile Customization One-on-one consults including evaluation, Professional review, editing and/or creation of your recommendations and tutorials for social media online profiles and business pages Social Media Services Website Design Partial and full profile and campaign management, Professional design and development of business including strategy and execution websites, including ecommerce and web applications Consulting Training Evaluation of and assistance with online marketing On site and remote training for social media for programs, strategies, budgeting and plans marketing and sales teams, executives and businessesCopyright © 2012 108 degrees, llc. All rights reserved.