37% of marketers say that the most difficult part of their job is prospecting, and without this crucial first step, it’s extremely difficult to build a digital marketing funnel.
You must be wondering what is the marketing funnel. The marketing funnel refers to a visual representation of the various steps involved in the journey of a potential customer to a regular customer.
It starts from an initial stage where a potential customer learns about your business, shows interest, to the purchasing stage and finally becomes a regular customer. It involves careful analysis of what action must be taken to influence an interested party to become a regular customer in the long run. This can be a very powerful tool to drive greater sales, spread brand awareness and create a loyal customer base.
Since now you know what is the marketing funnel? Let us revisit the history of the marketing funnel. In 1898, Elias Elmo Lewis created the concept of the marketing funnel, which has become ubiquitous all around the globe. It was based on an “AIDA” model that indicates every purchase involves:
Awareness – The prospect possesses the awareness of the problem and is looking for possible solutions.
Interest – The prospect demonstrates interest in the services.
Desire – The prospect shows a strong inclination towards a particular service or group of services.
Action – The prospect eliminates the possibilities in favor of the most suitable service brand and takes the action to purchase.
Even though it was a concept introduced over a hundred and twenty years ago, it is still very much relevant today, although in a much more evolved and advanced form, which we will discuss later.
With regard to the modern marketing funnel, the advent of the digital era made a huge difference. The dawn of the internet has prompted significant moves in marketing methodology— though it is not much overturning, yet it has enormously altered and extended the first AIDA model. This has offered to ascend to the digital marketing funnel, a strategy that revolves around brand engagement, education and grasping the non-linear manner by which web-based clients encountered the act of their digital purchase journey.
Here’s a brief overview:
The fundamentals of the modern digital marketing funnel incorporate four key stages (like AIDA): attract, nurture, convert and delight. In any case, to suit a wide range of sorts of advertising ventures required to contend in the present wild web-based marketing battleground, the channel steps have extended. Numbers differ, yet these 10 stages regularly contain well-oiled digital marketing funnels. The initial six phases occur up to the point of the final sale. The last four happen once the sale is done. Here are the marketing funnel stages-
Today, brand mindfulness frequently starts on the web, commonly one of the numerous social networking stages, like Facebook, Twitter, YouTube, and LinkedIn, where customers find brands. The objective is to reach out to an enormous number of individuals and begin drawing in potential clients from the majority. Engagement can take an assortment of structures, including free ideas for interesting and informative content, social media posts or advertisements or reviews from loved ones.
The discovering phase that began with engagement proceeds with teaching buyers about the brand. This incorporates unmistakably distinguishing buyers’ issues and giving the understanding to help settle them.
The discovery phase proceeds with buyer research. Guests are frequently focused around catchy content and becoming familiar with the organization and its items. They are hoping to comprehend why they ought to pick a specific organization. At this stage, the objective isn’t to overpower the customer with offers, however, give the important data to be considered.
At this point, it’s an ideal opportunity to introduce a particular answer to the issue. Clients might be taking a gander at various contending answers for their concern, so the emphasis ought to be on giving them why a specific item is their best solution, for instance, through clear advantages and cost correlations with contenders.
Often, advertisers prevail at convincing prospects that their answer is the best one for them, yet at the same time don’t make a deal because of buyers’ complaints, hindrances or dormancy. The justification stage is tied in with discovering approaches to defeat these issues. They need reasons why they should pull the trigger.
Sooner or later, a few possibilities will become clients. The purchase stage is about the sale. Advertisers should bolster the business procedure by addressing the entirety of their inquiries and causing them to feel sure with the item’s worth.
Post-sale is a great opportunity to deliver on everything an organization has guaranteed its new clients. It’s significant correspondences proceed after the purchase through satisfaction, backing, and client assistance, for example, educational materials on the best way to capitalize on the items.
Converting a possibility into a client is a significant accomplishment. Be that as it may, presently advertisers need to hold them as fulfilled clients. One way that brands accomplish this is through progressing high-esteem communications.
Ideally, clients ought not to exclusively be happy with their unique buys, yet in addition, become repeat customers. Advertising efforts workaround upselling clients’ better quality items and strategically pitching them with complimentary items. Growing your association with buyers is simpler in the event that they see your image as reliable and as a position. Your progressing interchanges should broadcast this message noisily and plainly.
This is regularly one of the most neglected stages in the marketing funnel. Yet, brands who work to transform their fulfilled clients into advocates frequently score significant prizes for their endeavors. Satisfied clients can get the message out to an entirely different universe of possibilities, including their companions, associates, loved ones.
As high-impact as the new digital marketing funnel seems to be, some marketing industry specialists are discussing an entirely different way to deal with digital marketing. Rather than the channel as we probably are aware it—wide on top and thin on the base—they are upholding we “flip the funnel” to suit another way to deal with promoting called Account-Based Marketing (ABM).
The ABM technique starts with distinguishing and focusing on best-fit records. Advertisers at that point serve customized informing to the entirety of the decision-makers at the accounts. The thought depends on the idea that it is only once in a while that people settle on buying choices all alone any. Rather, a group of frequently seven to twenty individuals is associated with the dynamic procedure.
This implies that the advertisers need to reach out to all the leaders inside a specific organization. To help this methodology, advertisers have recognized the marketing funnel stages in the ABM model as follows:
Digital Trends – Keeping up with ever-evolving digital trends is a vital element of the digital marketing funnel. What attracted the customers five years ago may not attract them today. Adapting to different digital platforms is another aspect of these digital trends that need to be kept an eye on. For example, the rapid increase in the number of Android smartphones in the past five years has forced every business to develop and regularly update an android application.
Social Media – If used correctly, it can be the most potent platform to reach your target audience. However, it is crucial to identify the platforms used by the target audience and make the best use of it. For example, the popular image sharing platform, Instagram, has become a widely-used platform for different types of businesses to easily reach its target audience. The clever implementation of advertisements can lead to substantial growth in sales.
For example, most of the clothing brands on Instagram will share a picture of a model dressed up in a specific piece of clothing with the caption addressing the target audience and a link to purchase the same clothing. A person randomly browsing through the social media app will come across the picture and is highly likely to purchase the product if it is suitable.
Another advantage of social media is that it connects the audience of different ages, financial interests, and various other factors to their relatable services.
Audio and Voice searching technologies – Voice recognition services are gaining rapid popularity in recent times. From smartphones to cars to even your household articles, are all controlled by the command of your voice. Two of the most successful business firms in history, Amazon and Apple, have successfully developed their trademark voice recognition systems; Alexa and Siri.
Google’s android auto and Apple’s car play are widely popular voice recognition services used in the auto industry that can execute all basic tasks without even moving a finger, just your lips. The increasing popularity of online podcasts has also become a powerful platform for digital marketing.
Artificial Intelligence – It is the technology of the present and the future. The artificial intelligence (AI) market is experiencing rapid growth in recent years. The “chatbots” are the most widely used form of AI. These chatbots have the capacity to interact with the customers on your behalf in a human-like manner. Customer support in the technology world is the biggest market for these chatbots.
Email marketing – Email automation marketing is a powerful tool for digital marketing. Whenever a customer signs-up, subscribes or downloads/uploads data on a website, a contact in the form of email is captured. Once they have accepted the subscription, an automated email service can be used to send product promotion email regularly. It is also one of the longest-serving methods of digital marketing. Here are three best tips to use this in the correct manner.
1). Build your own list. All you’re going to do by sending unsolicited email is to turn off most of the people you’re hoping to turn into customers. Whether through your website, in your store, or at an event, make it clear when customers are opting in to receiving your emails.
2). Adhere to the rules of the CAN-SPAM Act. These rules include having a non-deceptive subject line, a method of unsubscribing, and your name and address at the end of the emails.
3). Don’t just send out ads to buy all the time. Use your emails to build rapport with customers by sharing your expertise or that of others, giving them tips and insights they can value. Share information that lets them know more about you and your company.
The marketing funnel, when used properly, is a powerful tool that can help in growing your business substantially. Of course, it is not an easy process but the hard work pays off. Once you invest enough time and practice, you get the hang of it and it gets relatively simpler. A quick recap of what is the marketing funnel and what exactly the customer needs:
The customer does not want to be a mere number target anymore, they want customized products and services and a high level of utility satisfaction.
The base for the digital marketing funnel is technology, and if there’s one thing certain about technology, is that it will continue to change and so will we. This is why business brands need a funnel that will help in adapting growing in the years to come. Building this funnel isn’t easy by any means, but these are the major platforms it must be adaptable in order to succeed:
I hope we have been able to educate you enough about the marketing funnel stages and top elements of the marketing funnel.