While the consumer journey doesn’t look like a funnel now-a-day, it’s still increasing value to the sales and marketing operations of an enterprise. A marketing funnel strategy is an approach that helps enterprises to visualize the online journey of a consumer, right from awareness to the conversion process and hopefully beyond.
It’s an unwritten rule that always, there will be customers that get the hell out from the funnel without making the conversion. The role of marketing teams is sending a lot of leads into the marketing funnel and working on reducing the chances of prospects that exit each stage of the sales or marketing funnel.
Key stages of Marketing Funnel
Let’s take a look at the key stages of the marketing funnel are
- TOF (Top of the funnel) – Awareness, Interest
- MOF (Middle of the funnel)- Consideration, Intent, Evaluation
- Bottom of the Funnel- Conversion
Top of the funnel
Awareness
The TOF (top of the marketing funnel) is where customers find an awareness of the brand and connect with it for the very first time. This is the first section of the marketing funnel where customers do not know the enterprise’s services and products. This section concentrates on marketing material and articles and guidelines that promote awareness of the particular website or brand.
The marketing team can use this section to attract more leads and what the site offers to them. The marketing team of an enterprise has to create a landing page that markets its service, brand, and tools to each new customer or visitor.
Interest
Interest is one of the marketing funnel stages. During this stage, the customers start to show an interest in the tools or services of a company. From the marketing perspective, this stage informs enterprises about a brand’s tools, services, features, and necessary things.
MOF (Middle of the funnel)
Consideration
This is the middle stage of the marketing funnel where potential customers enter and engaged with the brand firmly. The consideration stage is where leads turn into valuable prospects. All the organizations can earn the trust of customers and set their brand apart through the consideration stage.
Intent
The intent is also a middle stage of the marketing funnel where engaged customers demonstrate their desire or interest in purchasing from enterprises. The marketing team will track customers closely to make customers ready to buy.
Evaluation
It’s is also a mid-section marketing funnel stage where the audience or prospects make a final call about whether to buy from a company or not. The marketing funnel helps users or prospects to know the value or rank of the product or service.
BOF (Bottom of the funnel)
Conversion
The bottom of the funnel (BOF) is the end stage of the marketing funnel where customers make the decision and become a buyer who readies to buy things.
Key Strategies to Enhance the Marketing Funnel
- Examine the objectives of every stage in the marketing funnel
- Implement KPIs for each stage of the marketing funnel
- Show attention to the MOF ages to keep away from troubles in conversion
- Develop a meaningful journey
- Each objective of the marketing funnel should be customer-focused
- Let the marketing funnel grow and regulate
Uses of Marketing Funnel
The marketing funnel is extremely beneficial to all sizes of businesses. Some key benefits of the marketing funnel are
- Understanding the customer’s journey
- Tracking more than sales
- Optimize marketing strategy
- Increase sales
- Easier to close deals
- Save time and effort
- Predict future sales
- Customer retention
- Finding a suitable marketing strategy
Sales funnel and Marketing funnel Differences
| Characteristics | Sales Funnel |
Marketing Funnel |
|---|---|---|
Definition |
Refers to a technique that guides an intensive customer from the marketing stage to the stage of conversion. |
Refers to the process of lead conversion. |
Focus |
Sales funnel focuses on making more services or products sales |
Marketing funnel focuses more on business or brand awareness and recognition. |
Interest |
Maintains the customer’s interest |
Creates the customer’s interest. |
B2B and B2C Marketing Funnel Differences
Both B2C and B2B customers go through almost the exact levels of a marketing funnel, but some differences will be out there.
In Business to Customer (B2C), buyers make decisions of purchasing alone. It’s a short buying model and customers only need less product research. The marketing team only drives the entire process without a salesperson.
This article will help marketing team to know how to make a marketing funnel in a detailed way.
Conclusion
Creating an effective marketing funnel is not an easy one, but it’s a great opportunity to drive quality improvements when closing deals. It helps customers go through each stage of the buying process without any trouble.
Has your marketing funnel changed over time- is it time to have a relook and re-mitigate the setup? Contact us today to work on a fresh baseline for your sales cloud implementations.
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Has your marketing funnel changed over time- is it time to have a relook and re-mitigate the setup? Contact us today to work on a fresh baseline for your sales cloud implementations.
