Introduction: Marketing funnel

A marketing funnel is a visual representation of your customer’s journey with you.

Marketing funnels map routes to conversion and beyond, from the initial stages when someone learns about your business to the purchasing stage.

A marketing funnel, when carefully analyzed, reveals what your company must do to influence consumers at various stages. By analyzing your funnels, you may be able to increase sales, increase loyalty, and raise brand awareness.

The Marketing Funnel’s Evolution

Elias St. Elmo Lewis developed a model highlighting the stages of a customer’s relationship with a business at the end of the twentieth century. According to the “AIDA” model, every purchase entails:

The prospect is aware of their problems as well as potential solutions.

Interest: The prospect expresses an interest in a set of services or products.

Desire: The prospect begins to assess a specific brand.

The prospect decides whether or not to buy.

Creating a Marketing Funnel

Since the early 1900s, the fundamentals of the marketing funnel have remained constant. No single model, however, is universally accepted by all businesses. Some people prefer to keep their model simple, employing the “TOFU-MOFU-BOFU” strategy, which refers to the top, middle, and bottom of the funnel as distinct elements.

Others believe that incorporating “loyalty” and “advocacy” stages into the funnel improves marketing strategy. After all, businesses can lose up to $1.6 trillion per year when customers leave.

Marketing Funnel Strategies for Each Stage

The marketing funnel functions as a whole. This means that for the journey to be successful, each section must function flawlessly. There are numerous things that can be done to reduce friction in their marketing funnel. As an example:

Branded content strategies entice audiences and make them open to future interactions.

Consideration: Brand advocates and social proof help customers compare you to competitors.

Conversion: A simple purchasing process lowers the risk of making a purchase.

Loyalty: A loyalty program that includes regular discounts, email interactions, and social media keeps customers coming back.

Advocacy: Receptive members of your loyalty program help to support your future marketing funnels.

The Advantages of Marketing Funnels

Marketing funnels streamline the customer journey and make it easier for businesses to manage. These solutions outline each stage of their client’s decision-making process and the steps they intend to take in each.

A marketing funnel can be used to describe almost any customer interaction. You need a marketing funnel if you want to increase online sales, drive traffic to your brick-and-mortar store, or collect clicks as an affiliate. The funnel is a powerful tool for making every stage of your customer connection visible.

The most significant advantage of marketing funnels is their measurable nature. Your funnel reveals where you’re losing customers, allowing you to adjust your strategy. For example, if you lose customers before they reach the second stage, you need to improve your brand awareness campaign.

What Is the Difference Between B2B and B2C Marketing Funnels?

Marketing funnels frequently change based on your customer base.

B2C customers frequently navigate the funnel on their own or with the help of trusted advisors such as family and friends. B2C customers should never interact with a company representative directly.

B2B customers have larger, more targeted purchasing groups. In the lower stages of the marketing funnel, B2B consumers interact directly with sales representatives.

Adapting your funnel to your user personas immediately improves its effectiveness.