In digital marketing, you must have often come across the word funnel. There are different types of funnels but here we are going to talk about the marketing funnel in specificity. To know about the digital marketing funnel, Definition of a marketing funnel and importance of funnels. Let us see in this blog.
In simple words, we can say that marketing funnels help in visualizing the path that customers take from finding out about your brand to converting into serious clients. By understanding those, you get a useful insight into why some customers convert and why others don’t.
What is Marketing Funnel?
A visual representation of the steps visitors take right from finding a brand until they convert into customers.
The marketing funnel contains four main steps of the AIDA formula.
A Means Attention
Content is planned and created just to gain the attention of the customer.
In this stage, the customer will see your ad, social media post or hear about your business through word-of-mouth.
I Means Interest
In this stage, you will get to know if the customer is interested in your brand or not. He might think he will get a solution to his problems through your brand.
D Means Desire
In this stage of marketing, the prospect would have done the research and the lead might convert into sales.
A Means Action
In this stage, the visitor acts and becomes a customer. The potential customer buys your product, schedules a demo, or may even take whatever other action you want them to take.
The actions of the customers may vary based on the types of customers and the industry. In this stage, you might want the customer to either make a purchase, sign up or even fill out the form.
When someone does something that you as a brand want them to do, it is known as conversion.
Let us understand it from Amazon purchase funnel.
As a customer you will have to go through several steps to make a purchase. Here’s how it actually looks:
- You visit the website.
- You view the products mentioned on the website.
- You decide to add desired products to the shopping cart.
- You decide to purchase.
There are also some additional steps and actions that you must take in between but those steps are not defined clearly in the marketing funnel. However, if you hire the best digital marketing agency to put your brand out in the market, people will identify you. Contact the best digital marketing agency in Melbourne i.e., the Big Unit.
For instance, a visitor might view Amazon’s Career Page but this won’t be included in the marketing funnel because these steps are not really necessary.
Why are the Steps Identified as Funnel?
In the beginning, there will be a lot of people to take the first step. But not all will move to the next step. Some might even drop out and the size of the crowd thins or even narrows down. Just like funnel filters, the visitors get filtered with each step.
It might sound heavy that you lose a lot of customers in the process but the truth is all the visitors won’t convert. The top of the funnel is the part where everyone enters i.e., they visit your site or they view your marketing campaign. Only the most interested customer/buyer will move till the last step of the funnel.
So, whenever you come across this – “Widen the Funnel”, you know what it means.
Widening or broadening the funnel means casting a larger net by advertising the brand to new audiences, increasing brand awareness, and also adding inbound marketing to attract more visitors to the site. This is what is known as widening the funnel. More people mean wider the funnel will be.
Different Types of Funnels
In this blog, we are focusing on marketing funnels, i.e., the funnel that begins with some marketing campaign. It can be anything from a PPC ad or a white paper, a video ad, social media, or even an IRL ad.
A marketing campaign of any sort should be the first point in the marketing funnel.
Other types of funnels include the following:
- Sales funnels
- Webinar funnels
- Email funnels
- Video marketing funnels
- Lead magnet funnels
- Home page funnels
The names are different but all these funnels attract the same thing. The aim remains the same. Sometimes, these funnels are also called conversion funnels because apparently, the idea is to get conversion.
Uses of Marketing Funnel
You are not limited to using the marketing funnel strictly for signing up or for buying.
You can put funnels throughout the website and see how the visitors move through the website flow.
For an example, you may want to track newsletter sign-up (view newsletter sign-up form > submit form > confirm email) or a simple page conversion (view a sign-up page > submit sign-up).
Figure out what you want the visitors to do on your site. Create a funnel for the same.
Once you are able to collect the data, you will be able to see the roadblocks and can even optimize the funnel.
Now, let us understand it a bit more. Now, let us dig a little deeper into the concept.
Why is Marketing Funnel Beneficial?
Marketing funnels give access to the data, which is also known as a marketing funnel.
It allows you to see the performance, where you are losing customers and what is working well.
Do you know that it is also called a ‘Leaky’ funnel? Because it allows the customers to escape from any point of the funnel.
Understand it with an average SaaS business as an example.
Here’s how a marketing funnel should look like;
- Site visit.
- Sign up for a trial.
- Use the product.
- Upgrade to pay.
About Google Analytics’ Marketing Funnel
Google Analytics also offers funnels. This is quite a simple way to track the path that the prospects take to convert into customers.
The Funnel is Basic.
You Cannot Go Back and Check Data
Types of Funnels
Video marketing funnels
Lead magnet funnels
Home page funnels
Why Get a Marketing Funnel?
The marketing funnel provides easy access to data in the form of a marketing funnel report. It is the performance report which tells you what works for your brand and what does not work.
If you have a business online, you would at one point definitely need a marketing funnel. Starting the funnel can be easy but managing it, tracking, creating optimized content for the same can get hard if you do not have a professional by the side. To make the entire process easy and smooth, it is suggested to hire a digital marketing agency. For that, Contact the Big Unit, the best Digital Marketing Agency in Melbourne.