Understanding the Basics of Marketing Funnels

Have you ever heard about marketing funnels? If you have any knowledge about marketing, it’s likely that you at least have heard about funnel marketing. Although, perhaps you still wouldn’t be able to explain it to somebody with a hundred percent certainty.

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In this week’s blog post, we’ll go over the basics of funnels, give you a few tips and let you know what’s good to keep in mind when setting up a marketing funnel for your business.

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Funnels are all about attracting new customers or viewers to your business.

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Awareness

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The first step of a marketing funnel is where you create awareness. You explain briefly about the what, why, who, where, and how. Especially, it’s important to convey why your product or service is going to make a difference and what makes it different. Who is mostly going to benefit? Where can they purchase it or contact you? This stage should give a general idea of what your business is and what you do.

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The first step of the marketing funnel could be for example that someone sees your ad on social media, hears about you on a podcast, searches for your type of product on Google, or watches a YouTube video on your channel.

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Interest

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At the next level of the funnel, many people have left and moved on to the next thing. Although, the ones that stayed are hooked and want to know more. Now they might be on your website searching for specific products or information. Perhaps they subscribe to your channel or newsletter and give you some likes on your content. Maybe they join one of your webinars.

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At this stage it’s great to include plenty of calls to action methods that will lead the prospect towards the consideration and conversion steps.

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Consideration

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At this point, we are very close to conversion. It’s apparent that they like your product or service. What usually happens here is they compare you to your competitors to see where they would get the most value for their money. Now is your time to show them your secret ingredient that only you can make.

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Remember that sometimes the value or special ingredient lays in the way you present yourself, personality, reponsiveness and meeting them on a personal level. In the end people value trust and mutual understanding higher than functionality because that is what is needed for a long lasting relationship in any form.

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If you have a great product but for example don’t respond to the customer when they have an issue with it - you failed. If you're an expert at what you are doing but you serve them in a bad mood, they are less likely to call you again. It’s much more about creating a great consumer experience than we might think - especially in a competitive environment.

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Conversion

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This is the stage where you bring offers to the table. Imagine they are ready to reach for their credit card and you need to offer something that would actually make them take it out and make a purchase.

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You might give them a gift if they order your product before a certain date. Maybe you can offer them one week’s free trial to try your cloud based software, or a free ebook or course. Something that doesn’t cost you much (or anything at all) but brings a lot of value to the customer is a great way to make the customer feel like that they are getting more for their money than they had expected.

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Every company, product, and service is different and there is a specific formula that works for each one. The challenge is to figure out what ties the bond between you and your customers.

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With a great marketing strategy, you can meet your customers at all the funnel levels. We help you push your audience through the whole process and bring you more conversions!