In a competitive era, each brand wants to exponentially increase its sales. You’ve probably heard of a marketing strategy that includes a marketing funnel, the secret to expanding your business. Imagine all your potential customers purchasing your goods or services and also make additional purchases of what you offer. That means the Marketing Funnel is the way for your consumer to be attracted and converted. This process passes through various stages:
- Awareness: The moment the business, its products and services, and offers are first found by a customer, etc.
- Consideration: Consumers who are interested, but not ready to buy or possibly comparing or waiting for a special offer.
- Conversion: When a consumer actually decides to purchase.
- Loyalty: Frequent users who make purchases from you.
- Advocacy: Consumers who recommend it actively to prospective customers.
For better understanding, let’s consider the following case.
A web hosting business that runs ads on Facebook. In this case, the ad is nothing but a video that explains the hosting services of the company.
At the Awareness stage of the above-described ad funnel, it is important to catch the attention of potential customers to click on an ad. When they make a 10-second video to explain how good the company’s features are. We are still in the awareness stage of the funnel.
At the next point of the Consideration stage, a download button is presented at the end of the video. So, prospective buyers can download case studies that tell the stories of 100 customers who are really pleased with the use of goods and services by the company. The prospective customers have to enter their email address to download the case report.
They are now in the Conversion stage by entering their email address, where they can read case studies as required, visit the company’s website, and receive daily emails from the company. They will receive an email after a few weeks explaining that they should try a month’s service. And the subscription price per month will be paid at the end of the month, but they can cancel their subscription at any point in the first month.
The customers have signed up for the trial now. At the end of the month, they will subscribe to the full price if they trust the company’s service and are pleased with it. At this time they’ve reached the funnel Loyalty stage. Without wasting time on thinking, loyal customers enjoy it and make emotional decisions. At the final stage of the marketing funnel, i.e. Advocacy, the loyal customer recommends this company to its contacts.
This is a really healthy process for your company to get more leads and increased ROI. Create your strategy containing a marketing funnel. You can convert more leads into customers and more customers into fans by doing so. Differentiate your brand in this competitive world, increase conversions, and create an active, profitable customer connection. However, it is up to you to find out what will resonate best with your potential customers. And if you need help understanding what it might be, feel free to get in touch with us.