A marketing funnel is a model describing the customer journey from awareness of the product to the actual conversion. It has long been a topic of contest and conjecture. We call them funnels because the probability of sales and proceeds gradually decreases at each step. Some people opt out, some lose interest, and some choose another portal. Had this not been the case, terming it as a marketing cylinder would have been better! In an ideal situation, all leads would turn into customers – ten on ten returns. The job of the marketers, hence, is to make sure that most of the leads are turned into customers so that their marketing funnels could distort its ways and turn into a marketing cylinder.
Awareness: Awareness is the uppermost stage of the marketing funnel. Potential customers are drawn into this stage through marketing campaigns and consumer research and discovery. Trust and thought leadership is established with events, advertising, trade shows, content (blog posts, infographics, etc.), webinars, direct mail, viral campaigns, social media, search, media mentions, and more. Here, lead generation takes place, as information is collected and leads are pulled into a lead management system for nurturing further down the funnel.
Interest: Once leads are generated, they move on to the interest stage, where they learn more about the company, its products, and any helpful information and research it provides. Here is an opportunity for brands to develop a relationship with the people in its lead database and introduce its positioning. Marketers can nurture leads through emails, content that is more targeted around industries and brands, classes, newsletters, and more.
Consideration: In the consideration stage, leads have been changed into marketing qualified leads and are seen as prospective customers. Marketers can send prospects more information about products and offers through automated email campaigns, while continuing to nurture them with targeted content, case studies, free trials, and more.
Intent: To get to the intent stage, prospects must demonstrate that they are interested in buying a brand’s product. This can happen in a survey, after a product demo, or when a product is placed in the shopping cart on an ecommerce website. This is an opportunity for marketers to make a strong case for why their product is the best choice for a buyer.
Evaluation: In the evaluation stage, buyers are making a final decision about whether or not to buy a brand’s product or services. Typically, marketing and sales work together closely to nurture the decision-making process and convince the buyer that their brand’s product is the best choice.
Purchase: You’re here! This is the last stage in the marketing funnel, where a prospect has made the decision to buy and turns into a customer. This is where sales takes care of the purchase transaction. A positive experience on the part of the buyer can lead to referrals that fuel the top of the marketing funnel, and the process begins again.
Call us now at (904) 888-1281 For FREE Consultation