How marketing funnel working - How the marketing funnel works from top to bottom - How does the sales funnel work - What is marketing funnel strategy

For a long time, marketing experts have been baffled by the concept of a ‘Marketing funnel’. A lot of them use it interchangeably with a sales funnel but not as commonly used as it should be. I mean its very much common in business to sell and/or purchase something and that person who sells that item is called Marketing Funnel Lead or Marketer Funnel lead. The term Marketing Funnel is meant for marketing strategies & frameworks for analyzing how companies attract and convert potential customers from their website into paying clients. 

What are the 4 basic steps involved in defining a marketing funnel?

• The first step involves understanding your current target audience. This will help you determine which products best fit the existing market and which ones don’t. Also the number of people that will actually buy the product is important in determining if there is enough demand or not. If you’re making an offer that might not work with your chosen audience then you’ll have to decide what products to make that do.
• The second stage involves choosing a suitable pricing model for the client based on their budget, your level of expertise, and many other factors related to your current market and products. It is also important that you select the right tools for tracking progress in each stage.
• The third stage is designing and implementing communication channels relevant for each part of the funnel. Each part has different goals and objectives for ensuring successful results. As a result, choose the appropriate channel to reach out to the target audience.
• The fourth and final stage includes testing and monitoring whether your strategy has any measurable success results. Monitoring and managing results is very important to ensure continuous improvement of the process.

What is Digital Marketing Funnel (Marketing Funnel)?

A digital marketing funnel is defined as a roadmap to the conversion of prospects into buyers. In simple words, in order for one to become a customer they need to interact with some kind of brand of yours so in the digital world this could simply be your site on the internet. Digital Marketing funnel consists of 4 stages which are listed below.

Pre-Sale: Here we show potential leads the opportunity to buy and sign up for services provided by the brand. Typically they see links to company sites where they can learn more about the opportunities to get started.

Initial Engagement: Here we provide initial interaction with the user. After visiting our web page the user becomes aware of the brand in a broader way and learns more about us as a whole. They find out who are we and what’s the problem they are facing.

Conversion: Here we help users convert into buying customers. We present to them all the options available. At this point, they know exactly what we’re selling. But at this point their motivation for going through the process is low. So all you’re doing is trying to engage the buyer in front of them as much as possible and once the decision is made and they’ve decided it, we let them go. That’s when the next engagement comes in.

Ongoing Engagement: Here leads continue interacting with the brand as much as possible. And while doing so. This might involve sending emails, calling the person once a week to check them on Twitter, commenting on their social media pages, etc.

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 Retention: Once the customer is engaged and continues with the buying journey they stay with the brand even longer. During this phase they share some experience, opinions and even reviews of the product they bought. The brand stays connected with these leads throughout the entire consumer journey.

A typical Marketing Funnel consists of 4 levels: 

1) Qualifying Prospects: These people don’t know yet about your brand, so they don’t know whom to contact through marketing campaigns.

2) Interested Buyers: Now, this level consists of high motivated people who are already looking at your brand and want to join it. 

3) Opt-In Customers: These are those people whose interest is still being piqued and who start talking with you and sharing their stories so that we understand why they’re interested. Like an early adopter, wanting to try your service. 

4) Enthusiastic Clients: These are the most active users of your brand so they’re ready to take action immediately after reading and engaging with your content.

Why are marketers using a Sales Funnel instead of Marketing Funnel?

I’m sure you’re wondering why marketing funnel, especially the latest thing on the block is becoming popular. There is a good reason for using both in the real world though. With new technology and advanced SEO techniques, more and more companies turn towards online presence and digital marketing to push their products /products further into the marketplace.

This presents marketers having more than just promoting their products online — they need to create valuable content that engages customers and helps build loyalty, while getting conversions. While creating content, brands need to consider the following aspects:-

● Content must be unique and interesting enough to pull attention from the reader and create an emotional attachment.

● Your content needs to answer questions customers may pose in mind as well as solve problems of the buyer

● Copywriting must convince the reader that they have to read more details about your brand, so they would be able to tell about themselves and their desires as well as challenges they were facing before buying.

● Designing a consistent campaign for various platforms is crucial to keep the visitor engaged and ensure success.

● Make sure your content reaches a specific audience — If your content is too generic then you won’t be reaching out to the right groups,

● Stay updated with customer feedback — Most importantly, your content should reflect your organization’s thoughts, ideas and expectations

● Be honest and transparent in communicating with the visitors – Let your visitors be fully aware of everything going on behind the scenes

● Don’t forget about search engine optimization (SEO) methods that increase traffic.

How can a Business achieve Successful Results on Social Commerce Platforms like Facebook, Instagram, and YouTube with a Limited Budget.

There is no better way to grow your business, save money, and gain trust from your consumers today than building your Online Presence on these powerful platforms. However, the traditional approach is just not feasible on smaller businesses with limited budgets. To grow your business, you need a strong online presence that resonates with a modern audience. Fortunately, you can still leverage established practices using SMM technologies such as Google Ads and Display Advertising.

Google ads: Used by over 40% businesses worldwide by 2020. Adwords offers a comprehensive set of paid advertising products including display and video ads, bidding, measurement and analytics, keyword research, ad formats, account types, and more. Learn how Adwords works & what are the benefits below.

 Display Advertising: Used by 6.3% of small businesses worldwide by 2020 and provides access to thousands of websites allowing companies to advertise across multiple platforms and devices. Understand how Display offers users a rich experience.

Social Media Management Services: Used by 7.5% of small businesses globally by 2021. Provide top social media management services that optimize brand performance on all major social networks. 

Conclusion:

Marketing Funnel is a very useful tool as a part of B2B marketing. Companies now start thinking beyond just reaching out to end customers, how they need to communicate with the middle class consumers and influencers that can drive traffic to your website. As more of their focus shifts towards digital marketing, the importance of marketing funnel grows manifold and marketers must be prepared to leverage best practices now, in order to reap maximum benefits later on.