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What is funnel marketing
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What is Funnel Marketing ?
By DigiVaibhav July 8, 2021 0
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If You are also not sure What is funnel Marketing ? and How to create a Marketing Funnel than go through this
artical, It will resolve all your doubts.
A marketing funnel is a plan that plots a prospect’s path from brand awareness to purchase decisions and it even
goes upto the post-purchase stage.
This model provides marketers with detailed insights related to the behaviour and that information gives them
guidance on how to close the deal and build relationships with buyers.
Here are some negative situations to associate with your business during a customer’s buying journey:
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You have a great website with great products, but people don’t know your company.
Your website is receiving positive traffic, but the revenue is still low or visitors are not taking any
action.
Visitors start engaging with your brand but lose interest and never return.
Your customers take action, even add items of their choice to their shopping cart and then
discard them
Customers only buy once from your store
Each situation belongs to a level of the marketing funnel. The funnel can help you structure your customer journey
across different channels so that you can solve any problems that lead to the failure of the sale.
A well-designed funnel enables you to identify when and where to connect with your customers in order to
generate ongoing engagement. Optimize your marketing efforts and develop personalized plans for each stage of
the funnel.
You need to employ various marketing tactics to keep visitors engaged with your brand until they make a purchase
decision and beyond.
Understand the stages of a marketing funnel
Today in the modern marketing world there are several approaches when it comes to the conversion funnel.
There is no such thing as an exact and perfect model.
Defining the marketing funnel is just the foundation of understanding and creating the right funnel for your
business. The number of stages in the marketing funnel depends on your goal and, most importantly, the behaviour
of your customers. Because of this, the marketing funnel illustrates a buyer’s journey.
2 common approaches in Funnel Marketing are:
The AIDA model (the traditional funnel)
The modern marketing funnel
Traditional marketing funnel
If you’ve learned or become interested in marketing, you’ve probably heard of the AIDA model, which identifies the
cognitive phases people go through during the buying process.
AIDA is typically used as the foundation for sales and marketing funnels because they are both based on the same
theory. That said, consumers go through a number of stages before making a final purchase of a product or service.
According to the AIDA principle, a main marketing funnel looks like this:
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Attention: Customers know the brand and its products. Usually, this awareness comes mainly
from advertising.
Interest: Customer interest is growing and potential customers learn more about the benefits
they can get from the brand, the products and how it fits their lifestyle.
Desire: Once the consumer becomes interested in the product or service, the aim is to get the
consumer to want it by changing their mindset from “I like it” to “I want it”.
Action: The ultimate goal is to get the recipient of the marketing campaign to take action and
buy the product or service.
Modern marketing funnel
Some can keep it simple and divide the funnel into a top, middle, and bottom tier.
However, some of the most important steps for today’s global marketing funnel include these steps.
Awareness: the highest level in the marketing funnel. A future customer gets to know your company through
marketing campaigns. New prospects entered the lead management system
Benefit: Potential customers learn more about the brand and its products / services. Marketers can nurture leads
through email, more industry-specific content, brands, newsletters, and more.
Consideration: prospects become qualified prospects or prospects; See more activities related to this brand.
Companies can send potential customers more product information via automated email while providing them with
targeted content.
Intent: Prospects show interest in buying from your store. An opportunity for businesses to show why their product
is the best option for a buyer.
Evaluation: Buyers make the final decision whether to buy from you or not. This is where marketing and sales work
together to drive the decision-making process and convince them that your branded product is what customers
are looking for.
Purchase: Where a potential customer makes the decision and becomes a customer. Here the sales department
takes over the purchase process.
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Non-linear funnels
The reason is that customer behavior has changed dramatically over the years, some marketers argue that the
traditional funnel is no longer relevant.
why?
Because, the buying process is not linear.
In the AIDA model, the leads run from top to bottom into the funnel. However, the new approach of the modern
marketing funnel suggests 2 things:
Potential customers can enter the funnel at different stages, not always from the top of the
funnel.
Which Means, A customer can be a referred or he has already decided that they want to buy a product from a
particular brand. In this case the initial stage of his interaction with the company could be the Intent Stage.
The lead can be generated yourself without any campaign effort.
CEB reports that B2B customers go through 57% of the funnel alone before finding sales. This happens because
access to information has increased due to technological advances.
Second, I think that instead of the linear model, the circular model is much better suited to demonstrate the
modern shopping process and explain why it can feed.
A positive buying experience can lead to subsequent recommendations that lead to the top of the marketing funnel
to make this clear. The process starts all over again.
Take a look at the following McKinsey model of the consumer decision-making process.
Marketing and Sales Funnels: What’s the Difference?
Many people may think that the two terms “marketing funnel” and “sales funnel” are one and the same and use
them interchangeably.
This thought is true, but not exactly the same.
There’s a fine line between a marketing funnel and a sales funnel. And the most significant difference arises from
the context of use.
Basically, the nature of sales and marketing is divided into two different functions. Each reflects a unique journey
map, although both represent a prospect’s progress.
Marketing funnel:
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Its functionality is to create both interest and brand awareness.
The bottom of the marketing funnel marks the top of the sales funnel.
Take customers from attention stage to engagement stage
Focus on generating and driving leads through content marketing
Sales funnel:
These are sales tactics that turn customer interest into consideration and ultimately into sales.
Lie on the narrow end of the conical marketing funnel
The goal is to close the deal
Sales and Marketing Funnels: What’s the Difference?
However, I mentioned one thing above: the conversion funnel can be modified based on your company’s initial
needs and objectives.
Some see the funnel split vertically, and sales and marketing owninig the entire funnel.
Sales are believed to control the entire funnel as salespeople increasingly become thought
leaders to raise awareness through contacting them.
Another party argues that driving prospects through marketing tactics throughout the buying
process is more important than the impact the digital world has on shopper behavior.
Each has its meaning. However, we don’t have what is called the “perfect marketing funnel”. Customizing your
funnel to suit your users’ personalities will make it more efficient.
Here are some of the top reasons a marketing funnel is essential:
Strategy Determination Aid: Analyzing and building a marketing funnel allows you to delve deeper into a customer’s
mind and understand the roots of their actions. So, you know what tools and strategies you can use to keep them
busy.
Create Consistency – All marketing activities in each phase are planned early and work in a complete system with
the ultimate goal – converted leads
Be Measurable – The Funnel tracks your process and identifies weaknesses in your marketing and sales systems
that are causing you to lose customers. You can therefore twist and change your strategies
Increase conversion rate – The funnel filters out all non-targeted visitors. With the right marketing tactics, you can
limit the number of visitors to your website just to target your ads to those who are most likely to convert.
Generate more sales – The most important competitive advantage always starts with knowing your customers.
With every step of your shopping journey, your needs and desires change. Being able to identify your marketing
funnel allows you to nurture prospects until they’re ready to buy
Time and Efficiency – By planning all activities ahead for each stage of the funnel, you can automate your
marketing efforts. You can save a lot of time and resources to get better results
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Customer Loyalty – A post-purchase marketing activity plan will help you retain customers and keep them coming
back from time to time
How do you create a powerful marketing funnel?
Step 1: understand your audience
What do you think of when you look at these stats from the Marketo Engagement Gap Report?
61% of marketers believe they can easily interact with the right content.
56% of consumers want businesses to focus more on content that meets their needs and can
solve their problems.
51% of consumers say brands send them a lot of irrelevant content.
So what’s the problem here?
Many companies do marketing but lack information about customers. In other words, some don’t really understand
what their customers want and need.
You have to sell what customers need, not what you have.
For this reason, knowing your target audiences and personalizing your marketing strategies are the keys to the
success of your funnel marketing.
6 ways to better understand your audience:
Find and analyze all current customer data
Evaluate your competitors
Create customer personas
Get to know your audience personally
Use research and social marketing tools
Monitor feedback, comments, and audience participation
To ensure that you are running an effective funnel with engaging and relevant content, invest time and resources in
conducting a high-quality audience analysis.
Step 2: Determine the number of stages in the marketing funnel
As I said below, your customers don’t necessarily go through all stages of the modern funnel.
Once you have a thorough understanding of a buyer’s typical customer journey, you can determine the different
stages of your conversion funnel. After all, a marketing funnel is just one way to point more people in the right
direction.
Different customer segments have different buying journeys. They form the basis for designing the stages of your
marketing funnel.
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Regardless of what your funnel will look like, there are 3 main steps to a well-structured funnel:
At the top of the funnel: all about increasing your company’s visibility. People here are not ready
to buy from you. In practice, it looks like someone is reading a blog post that you wrote or noticed
in a review video.
Right in the middle of the funnel: If you build enough trust, people will be interested in what you
do and offer. It should deliver more value than your website visitors are willing to provide you with
just contact information. Convert them into leads.
At the bottom of the funnel: Your job is to present your offer in a compelling way that will get
prospects to take responsibility and take action. This part is more about sales tactics than
marketing.
Building a funnel is simply the process of building an automated system where each step has the incentives to
guide people through the funnel.
Step 3: Choose tactics for each step of the funnel
This will help you build your marketing funnel, from paper plans to reality.
Think about the tactics and channels you want to use and the types of content for each stage of the funnel you just
created.
I’m going to list some tactics you can use for each step of your funnel.
In the awareness and interest phase, you need to consider lead generation. Create a landing page, create a lead
magnet, and drive traffic to your page.
To present your company to the target audience, you can use:
SEO and blogging to get organic traffic and drive it to your website.
Social media and YouTube to drive more social traffic to your web content that addresses
customer issues.
Paid emails and advertising campaigns aimed directly at specific groups of people.
Brand awareness influencers to reach more people
As customers begin to take your brand and options seriously, your offerings should be special and unique from the
competition.
To do this, keep using the marketing tactics above, but change the content and goals used (which I will mention
later).
In addition, there are some critical points for your marketing strategy in this second step:
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Keep producing great content – your focus shouldn’t be on selling too much, but on other
valuable information about your industry, market, and customer concerns.
Testimonials & Reviews – Display testimonials to help build trust between customers and your
company
Create Parent System – This is a series of emails that will convert your prospects into paying
customers. Email marketing remains a powerful and multifunctional tool that shouldn’t be
missed.
In the evaluation and purchase phase, the selling elements take over. This is where you need to
put the final nail in the coffin and make sure potential buyers end up making a purchase.
At this stage, depending on your niche and customer segmentation, you can apply in different ways:
Urgency – Temporary offers can be used to create a sense of urgency and are known to be an
effective method of selling.
Rarity: has the same result as urgency. The scarcity of their supply has made many retailers want
customers to own something.
Free Product Tests and Demos – Selling software or add-ons, etc. gives your buyers a chance to
test your features and feel the value of the things you are offering.
Remarketing Strategy: Focus on targeting people who visited your website or engaged in your
brand but made no purchase.
Personalized Offers and Discounts – Incentivize customers to shop in your store
Step 4: create content for each part of the funnel
Modify and tweak your content at every stage of the funnel to achieve your goals.
For the awareness phase, you not only attract an audience, but also give them a solution. Therefore, all content
should be valuable and informative, with an emphasis on solving or answering customer questions or concerns.
The scope of your content should be broad and cover the topics of your industry, your market and your customers.
Moving on to the second phase, if you want to engage your audience more and connect the customer’s solution to
your product or service, your content can highlight unique characteristics and compelling incentives.
In the final stage, in order to close the sale, your content needs to have much stronger incentives than before and
create a sense of urgency or scarcity. The content of your advertising material or emails should immediately inspire
readers to buy.
Step 5: create a branded community
The ultimate goal of nurturing existing customers is always to convert your existing customers into advocates.
Once the tactic and strategy you’ve chosen work, you need to start building a community around your brand to
ensure continuity.
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By leveraging blog posts, podcasts, user generated content, and more, you can generate more new leads for your
marketing funnel. Or even an outside recommendation that has nothing to do with the brand can have a huge
impact on prospects.
Give existing customers a reason to come back for their second purchase and more. In this way, your marketing
funnel can be built up and further developed in a sustainable manner.
Step 6: track the changes
When you have completed all of the tasks to create a full funnel it doesn’t mean your job is done as the market is
constantly changing.
You need to keep track of all of these changes and tweak your marketing funnel to make it more flexible and
competitive on a daily basis.
To do this, you need research and a clear understanding of what drives the customer to connect with your brand.
Additionally, the whole point of optimizing your funnel is to draw more people into the funnel, push more down, and
ultimately make them advocates.
For any change you make, monitor the following location data to determine its success. This allows you to compare
the feasibility of different versions of your funnel. Therefore, any change can guarantee to generate the highest
profitability.
It’s your turn!
I think after reading this article, you can use the marketing funnel in your business for the most satisfactory results.
While you won’t hire everyone to visit your website, it’s normal to lose people during the funnel and promotion
process. And everything new needs a beginning.
It is time to apply your knowledge!
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