27 Oct F is for… Marketing Funnel
Your A-Z of Marketing Essentials
F is for… MARKETING FUNNEL
We all know it exists, but how exactly do you apply the marketing funnel to your business?
The marketing funnel is the process all businesses use to describe how they guide unknown people though the minefield of research and evaluation to becoming firm advocates of your product or service.
The marketing funnel can be broken into three parts:
Top of the Marketing Funnel
We use a series of awareness marketing campaigns to drive prospects in to the top of our funnel; the lead generation element.
This can include marketing activities such as advertising, SEO, SEM, content marketing, social media, trade shows and events, PR, referrals, brochures, direct mail etc.
Through this process, a good portion of these visitors will have seen enough to keep them interested and eager to find out more. These then move down to the middle and further investigation.
Middle of the Marketing Funnel
As your newly found and eager prospects continue through the funnel they will be looking for for more information to satisfy their qualification of your business.
Evidence based marketing tools such as case studies, eBooks, videos, white papers, email sequence, newsletters, webinars, brochures and testimonials etc., will provide your new prospects with evidence of your credibility and expertise. This allows them to evaluate your business against your competitors.
It may be that your new prospect is simply researching and not ready to purchase yet. This is where you can take that opportunity to start building a relationship with them. By asking them to share their details with you in return for something of value to them. This can be anything from filling in a form for an ebook or signing up to your newsletter, you will then be able to start nurturing and building know, like and trust.
Bottom of the Marketing Funnel
At the point people reach the bottom of the marketing funnel they are ready to purchase. They are looking for tools such as free trials and demo’s to confirm that your product or service can fully satisfy their needs.
This is your chance to shine! By listening to their requirements you will be able to turn them in to a new customer. By ensuring that you have your on boarding process, follow up activity and regular touch points in place, this lovely new customer will, in turn, become loyal and an advocate of your brand – referring you at every opportunity they get.
Marketing Funnel Example in Practice
To fully understand how this works we can take a look at this blog. You have been driven here by an awareness activity such as social media or an email update. From there your will have clicked through to read the blog and find out more about our expertise. You may have had a look around the website and seen our previous projects or testimonials. If this has peaked your interest you will have either signed up to our newsletter or downloaded our ebook – both of which require your details. From there you will notice that you receive some nurturing emails giving you more value and building familiarity. At the bottom of the funnel, one or two new projects will come through and many of these customers become advocates happily referring our business far and wide.
I hope that gives you a little bit of an insight of how a marketing funnel can be used in your business, and which marketing tools will help you best to guide your prospects into new customers.