What Is a Marketing Funnel And Its Stages?
- Matt Southern
- December 21, 2021
- 1 Comment
Sales are the oldest form of all business activities and it is the soul of any successful business. As there are certain methods and techniques in every field, there is also for sales and marketing. Though there is never-ending debate surrounding the marketing funnel – starting from who owns it, whether it’s marketing or sales funnel and if it’s relevant to the current consumer buying process.
With the support of the latest technology, business owners have access to a system that makes it easy for them to identify, filter and roll out people who have been converted. In this blog post, we have talked all about the marketing funnel and its stages.
What Is The Marketing Funnel?
In simple terms, a marketing funnel is a visual representation and understanding of the process of turning leads into customers with a marketing perspective. With the marketing funnel, marketers cast a broad net to capture the maximum potential leads, and slowly nurture prospective customers through the purchasing decision process – narrowing down leads in each stage of the funnel. So, in short, a marketing funnel is a marketing cylinder.
When it comes to real-life marketing scenarios, a customer doesn’t always start with the top stage of the marketing funnel. All the businesses don’t follow the same version of a funnel. A funnel may have different names, stages, and actions taken by the business and customers respectively.
Here we have discussed the most common marketing funnel stages, terms, and actions that can be valuable and helpful to your marketing team:
Here are the four main stages of a marketing funnel that mainly consist of the AIDA model. AIDA is an acronym for Awareness, Interest, Desire and Action.
Here is a brief introduction about each:
Awareness is the first and uppermost stage of the marketing funnel. When potential customers have some problems in their lives and are looking for solutions to their problems and come to know about your product is when they are considered in the awareness stage. A company then puts its efforts to establish trust among the target audience by conducting events, advertising, trade shows, online content, webinars, email campaigns, viral campaigns, social media presence and many other activities. With all these activities, collected leads are further pulled into a lead management system for nurturing further down the funnel.
Once people have come to know about your product/services, it is time to provide them with more information about your products and services to urge an interest in your company and brand. In this stage, brands have an opportunity to develop a relationship with the people in their lead database and introduce their brand positioning. These leads can be nurtured through emails, newsletters, WhatsApp automation and SMS automation.
After seeing a lot of information about your company, brand and products, a customer develops a desire to buy your product and services. As a customer has all the information and interest in your product, it is the job of a sales team to take things forward by conducting a call with collected leads and converting them into a customer.
Sales executives have to demonstrate clear and irresistible benefits of their products and services to push a customer further in their decision-making process.
This is the most important and toughest stage of the marketing funnel. When people take an action like buying a product or taking the desired action is considered “converted client”. To give you a real-life example of the marketing funnel, we can say that if there are 1000s people in your awareness campaign, 600 in the interest stage and 400 in the “desire” stage, and only around 100 people who would be buying your product or service.
How Does the Marketing Funnel Work In Real Life?
The conventional marketing funnel model is linear that begins at the top of the funnel and ends at the bottom of the funnel where your prospect converts.
When we apply a marketing funnel in a real-life scenario, we can see that it doesn’t always work the way it is supposed to. A customer may already have awareness and interest in your product and come to your shop with direct purchase intent. Or Sometimes a customer keeps revolving around interest and desire but never gets converted. So for all the brands out there, it is important to keep in mind that understanding customers’ buying behaviour and real concerns and problems they have is the way to make their sales funnel the most effective.
Here Is The Description Of The 3 Stages Of The Marketing Funnel:
Top Of The Funnel (TOFU)
The top of the funnel is where prospect customers come to know about your products for the first time. At this stage, he becomes aware of your brand and learns about your products and services. To attract the attention of your target audience with a marketing funnel, let them know your offerings with a landing page, infographic, and educational blog posts.
Additionally, be active on all social media platforms while running paid ad campaigns and highlight your unique selling points to get the attention of your target audience.
Middle of The Funnel (MOFU)
The next stage of the marketing funnel is known as the Middle of The Funnel (MOFU). When a customer is engaged with your brand in a meaningful way he/she is considered in the middle of the funnel. To make this more simple and understandable, we can say that when a customer subscribes to your newsletters or follows you on social media or signs up for your webinar – it is called meaningful engagement.
In this stage, companies have a chance to win the trust of their potential customers and set their brand apart from the others. To understand your customer in a better way at this stage, invite them to participate in a survey and learn more about their pain points and problems they find with your brand.
Bottom Of The Funnel: (BOFU)
The bottom of The Funnel has the least customers compared to TOFU and MOFU. At this stage of the funnel, you have got their attention, trust and a healthy relationship so it’s high time to close the deal with them. Give them irresistible offers which they can’t refuse. Provide them with a trial or demo to experience the benefits of your products/ services. Show them the awards your company has got and share Google reviews and testimonials with them to build even further trust.
Marketing funnel has always been a controversial topic among marketing professionals. Over a period of time, methods and techniques of marketing have changed along with customers’ psychology and behaviour. Moreover, with the latest technologies, we can have automation tools that empower the marketing funnel with great results.
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I am a search marketer with over 10 years of experience. I offer site audits, phone consultations and content and link strategy assistance. Also, I am the founder and CEO at Showmeup Media – a digital marketing agency that helps clients optimise their Brand SERP and manage their knowledge panel.