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GOA Back to School: What is a Sales Funnel?

Marketing Funnels Miami

What is a Marketing Funnel?

A marketing funnel describes a customer’s engagement journey with your company. From the initial stages when a user learns about your business, all the way to the purchasing stage, marketing funnels help map a route to conversion and beyond.

With careful analysis, marketing funnels enable you to understand what to do to influence customers at specific stages. When you can effectively evaluate your marketing funnels, this may drive increased sales, increased brand loyalty, and enhanced company awareness.

Although the marketing funnel’s concept has mostly stayed the same since the dawn of advertising in the 1900s, no single model remains universally accepted by all companies and specialists. 

Some prefer a simple marketing funnel, while others believe in focusing on loyalty or advocacy – an important distinction as companies lose big when customers leave them.

Advertising Strategies | Marketing Funnels Miami

Marketing funnels work as a unified whole, meaning each funnel section must work correctly to impart a successful journey for the user and the business. Several things can reduce friction in a marketing funnel effort:

 

  • Awareness – Branded content creation that appeals to audiences. Brand awareness increases reception for future customer interaction.

 

  • Consideration – Brand advocates help assist new customers when comparing your company to competitors.

 

  • Conversion – Simple purchasing procedures to reduce the risk and issues with buying.

 

  • Loyalty – Programs with regular discounts and other perks. Examples include email and social media interactions to maintain customer relationship management (CRM).

 

  • Advocacy – Receptive individuals to your loyalty programs support future efforts in marketing funnels.

 

A marketing funnel works to simplify customer journeys, making it easier for your company to follow. The solutions will map out every stage of a client’s decision process, planning out the steps they want to take out in each one.

This advertising initiative can apply to almost any customer interaction. It doesn’t matter if your company wants to increase online sales or generate traffic to a physical store. To accomplish this efficiently and effectively, you need a marketing funnel. 

The digital marketing strategy is an effective way to bring visibility to every stage you connect with your customer.

The most significant benefit that your company can experience from a marketing/sales funnel is its measurability. The funnel will outline where you lose customers, helping you to pivot your overall strategy. 

For example, if you lose consumers before they get to the consideration phase, you may need to revisit your brand awareness campaign.

How the Marketing Funnel Actually Works

Marketing funnels work every day with customers. Here’s how:

Retail Stores
  1. A customer enters a store.
  2. They look at a product.
  3. The customer takes the item and puts it into their cart.
  4. They walk to the checkout counter.
  5. The customer completes the purchase with a store clerk.

Similarly, corresponding steps exist with eCommerce and online companies, even when ultimately directing potential customers to a “brick and mortar” location:

  1. A customer visits an eCommerce or company website.
  2. They view product pages and information.
  3. The customer adds a product or service to their cart. (This can also mean seeking out further information on a physical company and their offerings, contact information, etc.)
  4. The customer heads to the checkout process.
  5. They finish checkout and finally click “Purchase.”

Mostly what this reflects is that the top of the funnel is where everyone enters the site. Only the most interested users will continue to move down the funnel.

 By widening marketing initiatives, this casts a broader net by advertising to new, expanded audiences. As a result, your company can expand brand awareness, add inbound marketing to drive more people to the site.

Additionally, we aren’t limited to using a marketing funnel strictly for sign-ups and purchases. 

We can put marketing funnels all over a website to help you analyze how visitors move through a specific website and marketing flow.

You can install a marketing funnel to track marketing sign-ups, customer relationship management through feedback, and conversion rate, as well as to determine what goals you want visitors to do on your site.

The sky’s the limit for obtaining the data you need to determine where you experience roadblocks with marketing, optimizing your marketing funnel accordingly.

Internet Marketing Company | GOA-TECH

Any company undoubtedly wants visitors on its website to take specific actions including:

  • Making Purchases
  • Signing Up
  • Filling Out Forms

When someone commits to the intended action, this is what we call conversion. The visitors convert from a regular internet browser to one that takes the action the company wants.

The marketing funnel acts as a set of steps visitors go through before they reach the conversion phase. Adjusting the funnel suits a diverse range of user personalities, instantly making initiatives more effective.

The ultimate goal with your funnel approach is to cultivate, maintain, and manage strong CRM with consumers, ensuring they don’t move on to other services. 

However, marketing funnels also aim to direct customers towards brand advocates for your goods and services.

Although no consensus exists regarding marketing funnels and the best possible approach, an internet marketing company like GOA-TECH is a valuable asset to help you gauge customer behaviors while optimizing digital marketing efforts. To learn more, call our team today at (786) 462-8324.

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