What is a Marketing Funnel? Why is it Important for Your Business?
A common question we often receive from our clients at GOA-TECH is, “What is the most effective way to generate leads in modern marketing?” Unfortunately, this is a question with numerous, convoluted answers that depend on a variety of uncontrollable circumstances distinctly unique to these individual clients.
Even if a business decides to devote thousands of their hard-earned dollars to focus on driving traffic, it remains unlikely that targeted customer bases would choose to purchase a product or service immediately.
As opposed to looking for the end-all magical solution to marketing problems, a better idea is cultivating an environment where marketing and sales can work together. This guides potential consumers to learn more about business offerings. A marketing funnel accomplishes precisely this task.
How Does a Marketing Funnel Work?
Sales funnel marketing outlines an idea that a client or customer may go through as they go from prospective to future clients or customers. Although most businesses will advertise their offerings to thousands of target subjects, only a small amount of these may become a lead. Furthermore, only a small portion of leads actually become clients.
We call the method a marketing funnel because it involves funneling prospects to attain great new clients. It essentially breaks down into the following phases:
- Attract – Cultivating marketing and advertising initiatives to guide visitors to your company’s website.
- Convert – Cultivate value. This involves outlining and establishing offers that aim to inspire visitors to share their contact information.
- Close – Closing requires making efforts that encourage a lead to close. This is where prospective clients or customers become paying, hopefully, satisfied ones.
- Retain – Retaining customers and clients necessitates your company providing the best customer service and quality service that will keep them happy.
- Advocacy – The final advocacy phase acts as an extension of the retention portion. By providing all of the best service and customer assistance will help keep customers happy and inspire referrals to your business.
Taking Steps to Improve Your Funnel Marketing Initiatives
The best first step to improve your advertising strategies with a marketing funnel is by outlining your current efforts on paper. This will help you categorize these implementations into different funnel marketing phases.
When you map everything out, you may begin to notice gaps in your funnel marketing coverage. These represent your areas for improvement, and you can list them out in order of priority.
Once you feel confident that you can make improvements to these areas, you will know where to start marketing your company and its services utilizing funnel marketing. As a result, you can then effectively capture lead information, potentially even increasing the willingness to devote more time and effort to additional marketing implementations.
Develop, Implement, Optimize your Marketing Funnel with GOA-TECH
Develop your business marketing strategy with a marketing funnel in mind. This is the best way to convert those potential customers into clients, as well as turn these clients into fans of your business. With the right mindset and efforts, you can start raking in additional revenue for your business in no time.
Here at GOA-TECH, we work to guide our customers into getting the most out of their business. Regardless of this means improving their marketing strategies, improving their web design or SEO, or even cultivating an ironclad marketing funnel, our experts remain here to help. To learn more, contact our team today!