What is the Marketing Funnel?
A marketing funnel is a break down of the path customers take starting from the awareness of your business to the purchase (or form fill, lead generated, conversion) on your website.
In the marketing funnel, a potential customer becomes aware of your business through a Google Ad or a highly ranked webpage on the SERP. As they move down the funnel, the interaction with the customer becomes more personalized and eventually leads them to convert on your website.
As marketers, you should cast a wide net to capture as many leads as possible. This can be tricky because you want to ensure that you are generating high volumes of traffic to your site, but you also want to generate quality traffic that pulls in your target audience. As more quality traffic is generated to your site, customers will tend to want to explore more, which can potentially lead to conversions.
How does the Marketing Funnel Work?
Every marketing funnel is different depending on the industry that you are in or the type of service, product, or solution that is offered. However, the strategy behind how to form a marketing funnel and understanding how they work is nearly identical.
To better understand how a marketing funnel work, let’s think of it as a series of steps that a user must go through to become a customer. Think about your own shopping experiences:
- You visit a store
- You view a product you want or are looking for
- You potentially consider other products
- You add the product to your cart
- You purchase the product
The underlying idea is true regardless of if you’re shopping online or in a brick and mortar store. You start off as a user, you become enticed by relatable words and catchy copy, you fill out a form, and then you become a lead or a customer.
With that being said, there are a lot of things that influence your purchasing decisions. That is why it is important to break down every stage of the marketing funnel to get a better idea of how or why someone would even consider providing you with the information necessary to turn into a customer.
What are the Stages of the Marketing Funnel?
Depending on your own interpretation, the marketing funnel can be anywhere between three and six stages. This funnel can mimic the sales process, but it can also be viewed by search marketers as a lead generation funnel as well.
Sales Process and the Marketing Funnel
Awareness
During the awareness stage of the marketing funnel, marketers are attempting to capture as many impressions as possible. Think of this as “the importance of a first impression”. Whether you are posting a blog or creating a highly valuable solutions page, marketers must be aware of the importance of user experience and its effect on impressions when promoting their brand.
Advertisements, blog posts, and social media posts are only a select few examples of content that are utilized in the awareness stage of the marketing funnel. High-quality awareness campaigns can result in lead generation; however, the importance of this stage is the ability to generate further interest in the brand, product, or service.