December 29, 2020
When it comes to creating an effective impact on the consumer, digital marketing handles everything smoothly to elevate the awareness creating strategy if it’s done the right way. However, choosing the right digital marketing strategy can be daunting at the beginning, based on what kind of business you are into and how you are planning to promote it.
Read more: Choose Right Digital Marketing Strategy for Business Promotions
The traditional ways of digital marketing are not effective anymore. Incorporation of new-age strategy building techniques like a digital marketing funnel will leverage your business massively if you rightly know how to accelerate it for your business promotions.
But before going forward, you need to have a basic idea about what exactly a marketing funnel is? Well, a marketing funnel can be described as a visual representation of all the steps that are followed by your leads before getting converted into your potential consumers. A marketing funnel thus makes the visualization easier for you as you can now realize exactly how the lead is connecting with your business.
A digital marketing funnel, on the other hand, refers to a specific kind of marketing framework that generates more traffic and increases the conversion rate by turning the leads into validated customers. So, to grow your business digitally, it is pivotal to keep your sales route full and convert your website traffic into your paid customers. An efficient digital marketing funnel thus initiates the proper implementation of the sales process to make the most from the traffic that visits your website.
We all buy products and services based on various considerations such as brand name, price, features/benefits etc., however whenever we buy a product or service, as humans the tendency is to research about a product before deciding to buy it. This entire journey from the time when the user becomes aware of a product that solves a certain problem for him, and then progresses to educating him about the reasons (features/benefits) till the time when he decides to open up his wallet to buy – is called the Buyer Journey.
The buyer journey can be visualised as an inverted funnel where at the wider end you can have many prospective people for your product and the bottom end, you have a fewer but qualified leads who may be inching closer to becoming real customers. At each end of the funnel, the buyer goes through various touch points related to your brand or product and at each time the prospect expects information that will enable him to go deeper into the funnel and ultimately trust his hard-earned money into that product /business. It is important to note that even though in an ideal circumstance, we may expect the prospect to move linearly through the funnel, it may not always be the case. He may enter and leave the funnel at any stage and in no specific order.
In the realm of Digital Marketing, the concept of Marketing funnels plays an important role as different forms of digital media may be used to attract, build trust, engage, and sell to the prospect. Content and the product messaging can be created and tweaked based on what stage of the marketing funnel the prospect is at, to ensure he moves to the ideal stage of becoming a qualified lead ready to buy from the business.
Discussing the various stages of the buyers’ journey is going to be helpful enough to make you understand the prospects better.
At this initial stage, your lead becomes aware that they are having a problem, and an apt solution is needed to solve it rightly. Your prospect’s goal is to determine the problem by giving it a name and considering the possible solutions. Thereby, your goal is to present yourself as an eligible solution with your strong strategy. At this stage, the best you can do is provide the leads with knowledge-enriched content about your brand’s products and services through blogs, social media posts, newsletters, etc. and build an impression in the prospect.
This stage aims to educate your leads about the benefits of the products or services and make them consider choosing it as the solution. Now that you are aware of the fact that your lead knows about your product, you have narrowed down your task a bit. However, it might take about weeks or months for the prospects to build faith in your brand and opt for your services, so make sure you provide them with educational content like case studies, ebooks, white papers, free tools, etc. It would be time to give your marketing efforts to make them take action.
This stage of the marketing funnel makes it convenient for your lead that you are the one who is ahead in the competition. The funnel gets much narrower than before. Now all the leads you get are the potential buyers. Now they are going to look, what special you have to offer, compared to the other rivals in the market. In this stage, the leads tend to get more connected with your brand to know more about making a decision. In this stage, you can facilitate them with demos, one-to-one consultations, free trials, white papers based on product comparisons, etc.
This stage of funnel includes the stage of purchase when the lead invests their money to buy your product or avail your service. This stage is efficient to track how all your nurturing efforts have come to the point of success. But the number of people who caught up in the previous phases and the number of people who are approaching this stage have a massive difference.
As you are successful in making your consumers pay for your product or service, now it’s time to make your lead feel happy and assure them of the post-purchase support to continue a long-term relationship. Your leads will love to be cared for. It builds a healthy relationship between your brand and customers so that they keep coming back.
The new age of marketing funnel not only limits itself in tracking the conversion of your leads but also goes further to make sure that your leads stay with you. Once you are done with delighting your customers with your products and services, now it is the time to get to your customer to let them make more purchases.
The stage of advocacy involves your leads to share their experience within their circle to expand your consumer base. It is an effective way to bring in more customers that will boost your business and create brand awareness in the larger sphere.
It’s not only the entire concept which sounds beneficial but also the rate of conversion that each stage of the funnel tracks, marks the real benefits of the funnel-based strategy.
Awareness creation of your brand is pivotal to present your brand in front of the leads. Your brand needs to be discovered by the right group of people who are going to get benefited from your solutions. The awareness marks the beginning of turning your visitors into paid clients or customers.
To make this more effective, various digital marketing strategies such as SEO, social media marketing, etc., are used to draw more relevant audiences into this digital marketing funnel stage to convert strangers into brand/product aware audiences. With respect to digital marketing funnel and related strategies; Optimising your website or blogs for relevant keywords will be the most popular approach you can take. You need to create high-ranking content with the proper insertion of keywords so that you can develop brand awareness among your target audience.
Paid advertising through Google Search is another reliable way of drawing visitors. A PPC program with quality content, landing pages, and interest-triggering ads are enough to target the high-intent traffic to your page and product.
Learn: If you’re already doing SEO, learn how Search Engine Marketing or PPC Ads will help your Business
Besides, social media is enough in action and the most effective platform in the modern era. So, targeting social media platforms with high-quality content to engage more viewers increases your conversion rate.
Consideration is one of the beneficial stages of the marketing funnel. You need to target a higher-intent audience to convert your leads into the purchasing intents.
With high-intent keywords in stage two of the marketing funnel, you are going to focus only on those who are showing a clear intent to opt for a purchase. Using various analytics at this stage, you can track the multiple characteristics of your users.
Email marketing acts as a quite helpful strategy to reach out to the existing interested leads whom you want to nurture for making them your potential customers. Creating various search content, and adaptation of different marketing strategies allow your leads to take profitable actions.
The highest of your conversion rate adds to your business as you reach the decision stage of the marketing funnel. The decision stage marks the success of all the initiatives that you have taken in the previous phases.
In this phase, your customers will make their decision to opt for a purchase from your brand. Presenting your best products, showering post-purchasing support, etc., ensures the ultimate conversion from the marketing strategy.
The various stages of the marketing funnel mark the entire process of how you are attracting viewers to your website, educating them about your brand, nurturing their interest, and converting them into your paid customers.
The TOFU (Top of the Funnel) stage of marketing funnel marks the phase when you need to convince your leads that they are facing a problem. It is the recognition period of the problem where they come to realize that they need to work on it to dissolve it permanently.
The MOFU (Middle of the Funnel) stage of the marketing funnel triggers interest among the leads, or they seek more information on how they can work for solving the problem. This process is followed by their comparison of your products with the other alternatives available in the market.
The conclusion stage is marked as the BOFU (Bottom of the Funnel) stage of the Marketing Funnel, where your leads finally make the decision that they need to purchase. The stage marks the confidence of your leads that they gain at the bottom stage of the funnel about buying your product. How the customer is going to behave with your brand after purchasing is also the subject of discussion of the BOFU stage.
Learn More about Choosing the right Digital Marketing Strategy based on Marketing Funnels
Measuring the success of your marketing funnel can be done with specific Key Performance Indicators (KPI) that track the performance.
Here is how you can measure.
Download a HD PDF format of our Free Digital Marketing Funnel Infographic to build out the stages of your business internal marketing and sales funnel. This downloadable infographic makes it quick and easy to map out the activities you will need to implement and the metrics to be tracked from each funnel stage.
It may not always be possible to get the effectiveness of the marketing funnel on your own. Hence, outsourcing it to a digital marketing service company will do the job with the utmost efficiency.
It is worth outsourcing the Digital Marketing Service to an Agency as it keeps you ahead in the online competition. A dedicated digital marketing company is more focused on purpose and serves you with efficient service so that you don’t have to juggle with a bulk of work. Digital marketing companies like Immersive Radical Digimedia are well-balanced and adequately structured to facilitate innovative ideas and build a high-end marketing strategy for your business. Targeting the right audience becomes easy with better insights and reports, along with useful and modern technologies.
Executing digital marketing effectively not only increases your leads but also builds a firm root of your company. Doing your business promotion in the right way with an efficient digital marketing strategy, thus develops your brand’s online presence and boosts conversion rate so that it can flourish in every possible way.
