Let’s Discuss the Marketing Funnel
Imagine your journey through airport security, you’d go through a bunch of stop points, check-in, security check, TSA, passport control, and waiting at the gate, in every one of these points you are exposed to different information, requirements, and instructions until you finally get to board the airplane, breathe the recycled air with that distinctive smell that we all love then you know you’ll get the beverage cart shortly after take off, that is your reward.
Marketing Funnel is similar in a way to the journey through airports, the passengers are your clients and you need to take care of them, make sure they check in to the correct flight they purchased, ensure their safety by getting them through security checks, making sure they have the right documentation for flying, and finally seating them in their positions for the journey on the plan.
In a nutshell, a Marketing Funnel is the journey your customer enjoys from the time she or he learns about your company or product to the purchasing stage.
Historical Evolution of the Marketing Funnel
In the late 1800s, E. St. Elmo Lewis created the AIDA model, the model described the theoretical customer journey from the moment they become aware of a brand or business till the moment they make a purchase, AIDA is an acronym for Awareness, Interest, Desire & Action:
Awareness: When a prospective customer becomes aware that a seller offers a product, solution, or service that will meet their needs, they are in the awareness stage
Interest: When the prospective customer shows interest in a product or service that happens to solve a problem for him or her and so they seek more information about the product or service.
Desire: When the prospective customer begins evaluating whether the product or service will fit his or her needs.
Action: When the prospective customer finally has made a decision about the purchase.
The Marketing Funnel (sometimes called the Purchase Funnel) has many variations and has remained flexible during the 20th century, Some companies choose to keep it simple while others add other elements to it like loyalty and advocacy to improve marketing efficiency and conversion rate.
The Mechanism of the Marketing Funnel
The Marketing Funnel is like an organic entity, every element of the tunnel has to function properly in order for the journey of the prospective customer to be perfect to have the highest potential for conversion, for example, if the brand is great and the prospective customer was showing interest in the product or service, however, he or she wasn’t given the necessary information to formulate a decision to move to the next step of the journey, the conversion rate will tumble, hence there is some friction that can be implemented to convert prospective customers:
Awareness: Branded content strategies appeal to audiences and make them receptive to future interactions.
Consideration: Brand advocates and social proof assist customers when they’re comparing you against competitors.
Conversion: A simple purchasing process reduces the risk of buying.
Loyalty: A loyalty program with regular discounts, email interactions, and social media maintains customers.
Advocacy: Receptive individuals in your loyalty program support your future marketing funnels.
The Advantages of Marketing Funnels
The Marketing Funnel is a very powerful tool to have on your side as a business owner, whether it’s an online or physical business, the intricacy of each element of the funnel is very important so the customer’s journey can be hurdle-free right through to the conversion, the biggest benefit of the Marketing Funnel is its measurability, where you can identify which element of the funnel is losing you customer so you can adjust your strategy.
Author: Salam Alsanawi
