The Marketing Funnel: What is it and Why?

The Marketing Funnel is a marketing theory that dictates the path visitors take from first hearing about your brand to considering and buying your product or service. Marketing Funnels are an integral part of Digital Marketing strategies because they allow marketers to track the success or challenges in their marketing campaigns. This article discuss how Marketing Funnel works and why you should consider setting up one the funnel in your digital marketing strategy.

Let’s dive in! The Marketing Funnel has four steps:

• Awareness

• Interest

• Desire

• Action.

First step is Awareness; this is when a potential customer first hears about your product or service. This step is important because you need to make sure that your potential customers are aware of who you are and what you do. There are many ways to achieve this, including advertising, PR, and social media. Digital Marketing campaigns can be used to increase awareness by sharing your brand story with the world. Some of the KPIs I track at this phase are new website visitors, social media engagement and new email subscribers.

Second step is Interest; this is when potential customers start doing their research on your company, checking out social media pages or looking for information about your product online. At this phase of the funnel, I usually monitor website conversion rates, click-through rates (CTRs), and form submissions. Digital marketing in this phase allows you to communicate with the people who are interested in your product or service. You can generate leads through targeted ads, SEO content, or social media marketing. Once you have their attention, it’s important to keep them interested in your product or service.

The third step is Desire; this is when the potential customer wants to buy your product or service. And this is where the funnel becomes really important. You need to make sure that your potential customers can find and buy your product or service. This is where Digital Marketing campaigns really shine. Digital marketing in this phase is all about convincing potential customers that your product or service is the best option for them. This can be done through a variety of Digital Marketing channels such as website UI/UX, SEO (Search Engine Optimisation), and PPC (Pay Per Click). KPIs in this phase are generally conversion rates and average order value.

The fourth step is Action; this is when the potential customer buys your product or service. The Marketing Funnel isn’t over yet! You need to make sure that the customer is happy with their purchase and that they will come back for more. This is where customer service comes in making sure that the purchase process is as smooth as possible for the customer and activate retention. Digital Marketing campaigns in this phase should be focused on increasing customer loyalty and retention. This can be done through a number of channels such as eCommerce platforms, payment gateways..etc. In this phase, I usually track purchase conversion rates and average order value.

Other varieties of funnels that are used and relevant to sub marketing stream:

• Sales funnel

• Customer funnel

• Social Media Marketing funnel

• Event Marketing funnel

• Referral Marketing funnel

To conclude, Marketing Funnels are an essential part of any marketing strategy, and I hope this article has shed some light on the value of adding a customer journey to your Marketing strategy. Marketing funnels help you understand how your Digital Marketing campaigns influence potential customers to buy your product or service.

Thanks for reading!! If you have any questions, drop them in the comments section.