Although a broad question, a good start should be at the strategy table. A strategy is everything and the strategy you start with might be a different one than you end up with but starting with the strategy is important nonetheless, allowing for a steady baseline to show improvement and lack thereof. That means you can tell what efforts you provide are actually providing sales, leads, or possible referrals.
Starting The Plan
A marketing funnel describes your customer’s journey with you.
From the initial stages when someone learns about your business, to the purchasing stage, marketing funnels map routes to conversion and beyond.
With careful analysis, a marketing funnel lets you know what your company must do to influence consumers at certain stages. By evaluating your funnel, you can potentially drive greater sales, more loyalty, and stronger brand awareness.
The marketing funnel works as a unified whole. This means that every section needs to work perfectly for the journey to be successful. There are many things that reduce friction in their marketing funnel. For instance:
- Awareness: Branded content strategies appeal to audiences and make them receptive to future interactions.
- Interest: Brand advocates and social proof assist customers when they’re comparing you against competitors.
- Evaluation: A simple purchasing process reduces the risk of buying.
- Bond: A loyalty program with regular discounts, email interactions, and social media maintains customers.
- Sale: Receptive individuals in your loyalty program support your future marketing funnels.
The Benefits of Marketing Funnels
A marketing funnel applies to almost any customer interaction. Whether you’re looking for online sales, generating traffic for your brick and mortar store, or collecting clicks as an affiliate, you need a marketing funnel. The funnel is a powerful way to bring visibility to every stage of connecting with your customer.
The biggest benefit of marketing funnels is their measurability. Your funnel shows you where you’re losing customers, to help you pivot your strategy. For instance, if you lose customers before they ever get to the second stage, you need a better brand awareness campaign. This allows for a more visual representation of your success, which allows you to actually see what to improve – this is crucial for a successful business, let alone a marketing campaign.
Take into consideration that marketing funnels are completely reliant on the type of business you have established, dependant on your customer base. For example, B2C customers often navigate funnel alone or with trusted advisors like family and friends. Meanwhile, B2B customers have a larger, more focused purchase group.