The Evolution of the Marketing Funnel

The Evolution of the Marketing Funnel

Marketing funnels is a marketing strategy that helps businesses identify and locate the right people for their brand or product. A marketing funnel is the stages of the company’s relationship with its customers. It involves four stages that will lead to a sale.

  • Awareness: The target market is aware of their problems and has researched and know what possible solutions will work for them.
  • Interest: The prospect is showing interest in a group of services or products.
  • Desire: The prospect begins evaluating a certain brand to know if it is the right fit or can deliver the solution.
  • Action: The prospect decides whether to purchase the product or proceed to look for other brands.

What is a Marketing Funnel?

Since the 1900s, the basics of the marketing funnel has stood the test of time. It is a robust and timeless structure that until then, companies, be it big or small, use such as strategy to build their relationship with their customers. The marketing funnel, on the other hand, applies differently to certain companies. There is no singular marketing funnel. Rather, it is a modified strategy to ensure the efficiency and effectiveness of marketing efforts.

 

There are simple marketing funnels that most companies prefer. “TOFU-MOFU-BO-FU” strategies are also known as the top of funnel, middle of funnel, and bottom of the funnel. Some companies believe that loyalty and advocacy also affect the purchase decisions of the target market. It significantly improves the marketing strategy of the business.

Strategies for Each Stage of the Marketing Funnel

The marketing funnel typically works as a unified and simplified whole. Every section has to work pristinely for every other aspect to work pristinely as well and to garner success in the teams’ marketing efforts.

  • Awareness – branded content strategies strike the interest of the target market that will eventually lead to more often future interactions.
  • Consideration – If you have brand advocates and social proofs that your product works will help entice audiences to lean more onto your side when they try to compare you with other companies.
  • Conversion – A simple process of purchasing your product will decrease the risk of not buying.
  • Loyalty – If you offer loyalty programs with your regular customers such as regular discounts, email interactions, and social media interactions will lead to customer loyalty.
  • Advocacy – The receptive or loyal customers will surely support your future marketing funnels.

The Benefits of Marketing Funnels

Marketing funnels will help your marketing team simplify your customer’s journey. It will also be easier for the whole company to follow while mapping concrete solutions on each stage of the strategy. Marketing funnels apply to every or almost any customer interaction. For example if the customer is buying a fencing made of bamboo  It helps in making a sale, generating new prospects, and becoming a solid image online.

Marketing funnels are also measurable. It guides companies about how, why, and where they are losing or gaining customers. With it, brands will be able to pivot their strategy in the right direction.

The Difference Between B2B and B2C Marketing Funnels

B2C customers often find the brand through referrals of someone they trust. It could be a family member or a friend that they trust. B2C clients are less likely to interact with the company representatives but rather navigate the funnel alone.

 

B2B customers are more focused on buying groups. This customer often directly interacts with sales representatives at the end or right at the end stages of the funnel.

 

A marketing funnel is crucial when investing in digital platforms. It helps businesses gain insights while delivering simple yet effective marketing techniques. Marketing funnels make the life of marketers easier while the customers enjoy simple purchase processes.