Marketing Funnel: An Adage to Revisit This Year

Marketing-Funnel-Analyze

Remember the marketing or sales funnel? The marketing funnel is divided into four segments: Awareness, Consideration, Conversion, and Loyalty. Each of these parts describes the phase that a customer goes through from first knowing your brand to ultimately becoming a loyal customer.

Are customers not coming in? Having a decline in sales or losing repeat customers? These problems can be a result of one or two stages in the marketing funnel going wrong.

Marketing Funnel

You’ll know if you have an Awareness problem if people don’t know you. You might have an E-Commerce website, but no one comes to visit. If this happens, you might not be reaching your target market at the right place and time. This is where your social media and paid media marketing come in.

You’ll know if you have Consideration problems if people know you, but you are not on the list of brands for a particular need or want. If this happens, you might want to look at how you position and price your goods. This is where your branding, pricing, and promotion strategies are taken into consideration.

You’ll know if you have a Conversion problem if people know you, consider you, but ultimately don’t buy. If this happens, one of the most common reasons is the product availability. This is where E-Commerce and other conversion touchpoints come in.

You’ll know if you have a Loyalty problem if people know you, consider you, buy you once or twice, but don’t buy again. If this happens, people might have a bad product or shopping experience with you. This is where after-sales and customer relationship management (CRM) comes into play.

The marketing funnel is a good framework that can be used to diagnose why business problems are occurring and align strategies from marketing, to sales, and even customer service to troubleshoot and, even better, avoid the problems in the first place.

We invite you and your team to attend the upcoming Online Digital Marketing Fundamentals Program batch to learn more about the marketing funnel and other related frameworks to move your business forward.

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