You’ve probably come across the term “Marketing Funnel” while learning about marketing analytics. Many people still wonder about the marketing funnel. In this article, we’ll cover everything you need to know about these funnels. Keep scrolling down to read what is a marketing funnel and how important it is for your business.
What Is A Marketing Funnel?
A marketing funnel is used to analyze the way a potential customer goes from recognizing your brand to purchasing a product or service. It is a model that can help learn about the several key stages of customer engagement with your brand. If you want to know your customer’s needs, this is where the marketing funnel comes in handy. Apart from that, it helps you understand what makes a lead to become your customer. Many companies use a marketing funnel to optimize their marketing efforts, which in turn leads to more sales.
Marketing Funnel Stages
The number of marketing funnel stages mainly depends on your customer’s behavior. It usually consists of six stages. Let’s take a look at what each stage has to offer in a marketing funnel.
- Awareness: In the first stage, also known as the top marketing funnel, a customer knows more about your brand.
- Interest: A future customer tends to learn more about your products or services.
- Consideration: This is a stage where leads turn into potential prospects.
- Intent: Prospects show their interest in purchasing a product or service from your company.
- Evaluation: Prospects make a final decision whether or not to purchase.
- Purchase: Finally, a prospect becomes your customer.
What is Top of Funnel Marketing?
As the name suggests, it refers to the first stage of funnel marketing. Top-of-funnel marketing is the most important stage where the buyer’s journey begins. In this stage, marketers play a crucial role in creating brand awareness to generate more leads. These leads will eventually become customers moving down through the marketing funnel.
What is the Lower Marketing Funnel?
In the lower marketing funnel, it’s all about targeting prospects to become customers. Up to this stage, prospects might have something in the cart. All you need is to persuade them to make a purchase. It is a stage where macro conversions happen.
How To Build Marketing Funnel
Carrying out a thorough investigation of your potential customers is the first step to building a marketing funnel. You need to consider the different stages your customers will go through. In addition, determine which communication channel you will use to answer their queries. Building a marketing funnel is all about making every stage as effective as possible. It should make the leads turn into prospects and eventually into customers.