*Updated for 2016
Funnel marketing or online sales funnel is the system that helps track the stages consumers or purchasers travel through to make a buying decision within a business. The funnel marketing concept is used to guide promotional campaigns targeting different stages of a consumer’s or purchaser’s journey. It can be used to guide your marketing communications strategy and this approach can form the start of a relationship with your prospects.
Funnel Marketing Stages
- Awareness – the consumer is aware of the existence of the product or brand or service. The customer is always making mental notes of which businesses provide particular goods and services. The challenge here is that to create a great brand and to establish a profile so that market is aware of you. For this, you need to advertise through social networking like the YouTube.
- Interest or consideration – consumer is expressing interest in a product and they want to buy a product that you are offering. The customer is comparing the products and services from other suppliers as well, so you need to provide customers with the ability to easily compare your offering with other suppliers and give a compelling reason to buy from you. For this, your website should contain the product photos, specification, and reviews given by customers.
- Desire – consumer wants a particular brand or product.
- Action – it is the next step taken by the consumer toward purchasing the chosen product. Make the purchasing process smoother by providing an easy and trustworthy method of online payment.
- Loyalty – some of the customers if are treated properly they will become loyal customers. The businesses if want a long-term relationship with the customer then they have to offer loyalty programs, give discounts etc. send them a special newsletter or birthday greetings and offers on festive occasions.
- Advocacy – there was a time when business could do little for spreading the range of products and services they provide but now in this digital world everything is at our fingertips, we can provide customers with tools that can make spreading easier like comment boxes, social media share buttons etc.
The following video is a panel discussing Full Funnel Marketing sponsored by LinkedIn.
Full funnel marketing is the best tool marketers have for understanding and evaluating current consumer behavior. Even if you have an innovative marketing campaign it won’t be worth the time or effort if it does not lead to sales! You need to know how many sales you will need in order for your campaign to meet overall business goals; the best way is by tracking your sales funnel. Start at the top, and work your way to the bottom. Make your online marketing more effective and focus on targeted conversations so that the prospects are in the right place at the right time.
Funnel marketing varies depending upon the nature of your business, the customers approach to buying and your approach to selling. The important thing is to identify the key stages in your funnel and decide how to maximize the chances of progression towards the sale. For premium small business marketing services please contact a marketing specialist at Possible Web.