Marketing Funnel has got a pivotal role to improve business sales. It gives you a roadmap to turn your prospects into loyal consumers.
Nowadays, consumers are well informed, empowered, and connected. Hence, it is essential to understand the marketing funnel to grow leads and improvise conversions.
About 68% of businesses have not yet figured out their marketing funnel. No doubt! These businesses fail as soon as they launch in the market.
So, What is Marketing Funnel?
It describes the journey of the users (your audience) with your brand.
Right from the initial stage to the purchasing stage, it routes the map to conversion.
A marketing funnel is a careful analysis. It lets you understand what your business must do to influence your clients at certain stages. You can evaluate your funnels to drive sales, earn more loyalty, and spread strong brand awareness.
Development of Marketing Funnels
Elias St. Elmo Lewis introduced this at the end of the 20th century. The model “AIDA” highlights the various stages of the user’s rapport with a brand.
Stages of Marketing Funnels
Stage 1: Awareness
This is where the users get to know about your business/ services/ products. Following are the sources from where they can know about you:-
- Google search
- Social media
- Google Ads
For instance, you run a business WordPress website. Your user can get to know about you through your blogs or website. It is in the case wherein your write-up ranks.
So, make sure to develop web content/blogs with SEO practices. A good SEO practice can help you to take the lead in Google searches. You can allure more audience or turn your prospects.
Stage 2: Interest
In this stage, people who are aware of your business will consider becoming your customers.
You can send them a mail with detailed information, offer them free trials, etc. Your goal should be that your potential leads have enough information. This will help them in the decision-making process and nudge them in your direction.
Stage 3: Desire
A user that shows interest does not purely means they will become your customers right away. In this stage, you need to give your heart and soul to get strong leads and converts.
You can send these leads discount offers, reminders, or schedule meetings.
Stage 4: Action
In the last stage, if your prospect does not make the purchase then your deal is lost forever. You can create a campaign to ensure that your brand tops and stays in their mind.
Benefits of the marketing funnel for your business
There are plenty of benefits of marketing funnels. They are:-
- Improve conversions
- Improve brand image
- Better structure
- Automation opportunities
- Tailored sales approach
Marketing funnel models: B2B Vs B2C
Structurally both B2B and B2C are the same but the difference comes in their sales cycle. This means that each business requires a different approach to strategy.
The major difference is the purchasing time. The purchasing time of B2C is not that protracted process in comparison to B2B customers. The B2B customer will take more time as their decision can impact the entire business.
In B2B, there would be a lot of decision-makers-The whole company or departments. There would be rational thinkers. Hence, will take time from weeks to months.
Steps to improve your conversion rate
Understand your audience
You need to know or understand your audience. This will include their pain points and interest.
Keep a close watch on the feedback from your existing clients. Pay close attention to your web analytics data, social media, and surveys.
Learn the journey of the buyer
You need to understand the journey of your consumers. You need to understand the channels they prefer, barriers in their way to purchase, etc.
Determine the stage numbers
There might be many customers who might not go through the modern marketing funnel stages. So, you need to encircle a different path.
Find out the effective tactics for marketing
You must think out-of-the-box regarding the types of content and channels you want to use. You can use PPC ads, blog posts, email marketing, etc., to attract your clients.
Employ CRM system
This system will help you to manage your relationship with your valuable clients. You can record and keep details about each client.
Track the changes
It is good that you trail the practice of the user. For this, you need to craft the marketing funnel. You must check your content formats and new marketing tactics.
Effective ways to
Build B2B Marketing Funnel
Here, you need to include the post-purchase stages into your marketing funnel. You must keep your clients engaged using social media and digital marketing. This will help you to improve lifetime value with your customers.
Pinpointing the pain area of the audience and defining the buyer persona is crucial for B2B. Now, it is natural that the user is not aware that you provide instant solutions to their challenges.
Ensure that your business has instant solutions for your consumers. For this, you can share downloadable offers, blog posts, social media campaigns, etc.
You can even consider using webinars, case studies, checklists, etc. Make sure you use testimonials, live demos, and free trials to encourage your user to make the purchase.
Build B2C Marketing Funnel
The B2C clients often make emotional decisions. Hence, you always need to implement strategies to keep them excited and allured to your business. You can take the support of media interviews, PR publications, social media posts, etc.
You must spread awareness to your audience about the services/ products. Make sure to run appealing offers.
Choose web push notifications and email campaigns with exclusive promo codes and offers.
Friendly communication with your consumers is the best strategy for the retention of clients. Stay close with your consumers. Try to raise content and engage them through social media.
Finally, ensure to hire an efficient digital marketing agency. They can help you with effective strategies that can earn you great RoI. Their experts know the tricks that can earn you a great position in Google search.
An author of Namaste UI, published several articles focused on blogging, business, web design & development, e-commerce, finance, health, lifestyle, marketing, social media, SEO, travel.
For any types of queries, contact us on info[at]namasteui.com.