What is a marketing funnel?
Are you looking for a way to turn new visitors into lifelong customers? Then you need to create a digital marketing funnel and hire Denver marketing and media services. This marketing tool is not new. In fact, it has been around since 1898.
The marketing funnel was first introduced as a sales funnel, but it was modified to fit today’s digital marketing needs. Take a look at this helpful guide our Denver marketing and media services team has created to help plan the perfect marketing funnel.
What is a marketing funnel?
A marketing funnel, also referred to as a digital marketing funnel, is a visual representation of a customer’s journey with a brand. It maps out a customer’s journey from first encountering the brand to becoming a loyal customer. This funnel is most commonly used by salespeople.
The five steps of a marketing funnel are:
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Awareness
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Consideration
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Conversion
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Loyalty
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Advocacy
Marketing funnel vs. sales funnel
A common mistake made by businesses is thinking that the marketing funnel and sales funnel are the same. However, there are differences between the two. The key difference between the two is focus and interest.
The main focus of a sales funnel is on making more product or service sales, while the marketing funnel focuses on brand recognition and loyalty. A sales funnel maintains the consumer’s interest, while a marketing funnel creates the consumer’s interest.
The stages of a marketing funnel
Awareness
The top part of a marketing funnel is awareness. In this stage, businesses are trying to get people to know about their products and services. People cannot become customers if they do not know that your product or service exists.
Denver marketing and media services recommend creating awareness by using:
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Search engine optimization: the practice of optimizing a website to rank on search engine page results (SERPs).
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Social media marketing: the practice of using social media platforms to connect with your target audience to build your brand, increase sales and drive website traffic.
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Pay-per-click advertising: online advertising where advertisers pay a fee for each click a person gets on one of their online ads.
Consideration
Following the awareness stage is the consideration stage. This stage is all about getting people to consider your product or service when they need it. In this stage, people know your product or service exists and start comparing you to competitors.
Businesses should focus on creating trust. You can build trust by:
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Getting positive reviews
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Writing blogs
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Partnering up with influencers
Conversion
The conversion stage is where people make the decision to buy your product or service. During this stage, companies should try to highlight why their product or service is better than the competition’s. Highlight the benefits of what you are selling.
Some strategies businesses can use to drive conversion include:
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Creating an email campaign
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Offering free trials or samples
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Sending discounts or sales
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Inviting subscribers to a webinar
Loyalty
In the loyalty stage, businesses are focused on getting people to repurchase their products or services. Companies want to increase the likelihood of customers making purchases.
You can build loyalty by:
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Creating a rewards program
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Sending regular emails
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Communicating product updates
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Texting messaging systems
Advocacy
Once your new customers have turned into loyal customers, you want them to recommend your products and services. 23% of people talk about their favorite products with friends and family every day. So you want your customers to talk about your company.
Some advocacy strategies businesses can use include:
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Sending out email surveys
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Starting an affiliate program
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Sharing testimonials on social media
Get Denver marketing and media services from OMG Austin!
If you need help starting or improving your existing marketing funnel, let our digital marketing experts help you. We can help with all your digital marketing needs like social media marketing, email marking and even pay-per-click advertising. Contact us today to get started!