What is a Marketing Funnel and Why Should I Have One?
What is a marketing funnel and why should you have one? Those are two good questions to ask, for people who are not familiar with a funnel and how it can benefit a business. As a top digital marketing company, we wanted to discuss marketing funnels and the value they bring to an online sales operation.
For most businesses that operate online, a marketing funnel is an important concept that combines marketing concepts with website design to help drive traffic, engage visitors, convert visitors, and help build a brand. Without an effective funnel in place, even with amazing products or services, conversions can be hard to come by.
What is a Marketing Funnel?
Most people are familiar with the idea of a funnel. It is a specific shaped object that is wide at the top and narrows as it reaches the bottom. They have been used for centuries to help guide liquid or powder into a small opening.
For marketing, it is a similar concept where the top of the funnel represents the start of a customer’s journey and the bottom of the funnel represents a conversion, which is often a sale. Between the top and bottom are the different stages a prospective buyer goes through on their way down towards a conversion.
Conceptually it is a combination of marketing and sales that starts with lead generation, moves to lead nurturing, and ends with a conversion. The term funnel is used because the number of visitors decreases the further along the journey (or down the funnel) they go.
Marketing campaigns of all types, including SEO, ads, social media, email marketing, content marketing, etc. helps direct people to a website, which represents the top of the funnel. This is often called the Awareness stage where a business attracts its target audience. From there the focus moves into the lead nurturing phases which focus on Interest and Evaluation, where you showcase a viable product or service that helps solve a problem or fixes a pain point.
The funnel shifts into more of a sales focus at this point with the retargeting. By having the important framework that a funnel provides, you can better understand possible reasons why people leave based on where they were in the funnel when they did leave. This will allow more specific retargeting that should have a higher rate of effectiveness.
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