A marketing funnel is a series of the period that guide a prospect into becoming a customer. These stages range from a prospect’s first interaction with your company to their purchase decision. There are four primary marketing funnel stages: Awareness, Interest, Desire, and Action.
The Benefits of Having a Marketing Funnel:
• Streamline the customer journey.
• Help to Make analytics easy to track.
• Help to Identify areas that need improvement.
• Help define a sales methodology.
• Reduce costs.
• Increase revenues.
Steps When Updating Your small businesses Marketing Funnel :
There are a few essential things a business should look out for when deciding to update its dated marketing funnel to stay relevant in the modern setting.
1. Your Research:
The world is changing fast. More is needed to look at quarterly research. Brands need consistent audits to help inform decisions across all marketing channels.
2. Double Down Your Efforts: There is often a tendency to pull back on marketing during tough economic or uncertain times when, in fact, the opposite should be happening. Refining the marketing funnel process and messaging should be an ongoing process.
3. Look At Changes In Customer Needs: Continuously monitor performance to evaluate success and failure, focusing first on your pain points or problem areas. Evaluate your interactions with your clients to ensure their experience is excellent.
4. Consider Your Key Performance Indicators (KPI): Look at your key performance indicators. KPIs typically help determine a company’s strategic, financial, and operational achievements relative to other businesses in the same sector.
5. Make Sure It Reflects The User Journey: Marketing funnels should reflect the user journey rather than being driven by sales cycles, target closing times, and the brand’s preferred communication tactics.
6. Look At The Bottom Of The Funnel: Look at the bottom of the funnel. If you can’t convert people into customers, provide a great experience, and retain them over time, it doesn’t matter how much work you do at the top of the funnel.
7. Focus On-High Potential Audiences: Focus on high-potential audiences who have already shown interest in your brand. Be more specific with your ads and target them based on their audience demographics.
8. Look At Your Competitors: Look at what your competitors are doing. Where are they operating paid traffic? Your competitors may have a better process and system than yours. Go through each of their marketing funnels. Select their content. Check out their Facebook ad library of active running ads. As you improve your process, leverage their strengths because they already carry your customers.
Resource:
https://www.forbes.com/sites/forbesagencycouncil/2020/09/25/16-critical-steps-when-updating-your-companys-marketing-funnel/?sh=7ac617de1e3a
https://www.crowdspring.com/blog/marketing-funnels/
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