Almost everyone knows it; many use it, but hardly anyone really: the marketing funnel. In this post, we explain why a simple funnel can improve your marketing – and how to do it.
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Wait A Moment! What Is a Marketing Funnel?
You may have heard of a funnel in marketing: a funnel that bundles your marketing activities. It is also known to many as a sales, content, or conversion funnel. Don’t worry; this means the same thing, only the perspective differs.
Definition of Marketing Funnels
The marketing funnel is a tool to describe a customer’s path to purchase. It is divided into different phases and looks like a funnel. The first stages serve to attract new customers. The further the tunnel progresses, the closer you get to a conversion, i.e., a purchase or deal.
There is a simple reason for assuming a funnel model here: there are usually many potential customers in the first phases of the funnel, but they get lost along the way. The better funnel marketing works, the more customers reach their destination. This increases the conversion rate.
By the way: The sales funnel is a special marketing funnel aimed at sales. To learn more about this, read our magazine article on the sales funnel.
What Are The Phases of The Marketing Funnel?
Before understanding why the marketing funnel is useful for your business, let’s show you its stages. How you divide the funnel is basically up to you. Depending on the model, you can have between three and seven phases.
Ways to subdivide the marketing funnel:
- According to the classic AIDA principle: Awareness – Interest – Desire – Action
- Extension according to AIDA: Awareness – Interest – Consideration – Intent – Evaluation > Purchase > (After-Sale)
- Simple three-stage funnel: Attract – Convert – Complete
- According to the See-Think-Do-Care model: See-Phase – Think-Phase – Do-Phase – Care-Phase
It doesn’t matter which principle you use for funnel marketing – the basic idea is always the same: customers must first become aware of you and your company, develop an interest and only then can they convert.
Depending on the phase, you need different marketing methods and content formats. Events, outdoor advertising or social ads are typically suitable, e.g., B. is much better at generating attention. At the same time, newsletters, e-books or webinars can be used to develop customers and get them to convert.
Subdivision of The Marketing Funnel
In each of the models presented, you divide the tunnel into three phases:
- “ToFu”: Top of the Funnel
- “MoFu”: Middle of the Funnel
- “BoFu”: Bottom of the Funnel
Top of The Funnel: Generate Attention
The goal of all phases in the upper part of the funnel is attention. Formats that reach as many (different) people as possible are well-suited here.
Typical formats of funnel marketing are:
- Social Media Ads
- landing pages
- blog article
- Graphics/posts on social networks
- Events
- outdoor advertising
- podcast
Middle of The Funnel: Convince Prospects
If you have won leads in the first phases, they usually do not become buyers directly. Instead, you have to convince them. In B2B, one speaks of lead nurturing, whereby a lead is initially recorded through marketing activities (MQL) and later taken over by sales (SQL).
This phase is the most important phase of the funnel. In the B2C area, you have to develop your leads and fill them with appropriate content. So that you are well prepared here, we have created a free e-book on lead nurturing for you. Check it out to improve your marketing at this important stage.
Typical formats of funnel marketing are:
- white paper
- Newsletter
- eBooks
- Templates
- FAQs
- Magazine Article
Bottom of The Funnel: Convert The Leads
In this phase, all ambiguities among the interested parties should be eliminated. They no longer have any unanswered questions and are interested in your products. Now it’s a matter of converting them and bringing them to completion.
Typical formats of funnel marketing are:
- demos versions
- Free offers
- Discounts/Promotions
- Product Fact Sheets
- calculators
Why Is The Marketing Funnel So Useful?
As you can see, the marketing funnel is used to visualize your marketing and to align content formats with it. The customer does not notice anything but is fed with the formats and content that are right for him. Ideally, he will reach his goal faster, i.e., conversion.
Funnel marketing increases the conversion rate and the number of customers. At the same time, you reduce investments because, at best, you no longer carry out any unnecessary or inappropriate marketing activities.
A funnel is useful to support your marketing. You classify your marketing activities and know where strategic gaps lie. Funnel marketing also helps you to coordinate your measures better. A win-win for you and your customers.
Customer Journey, Flywheel, Funnel – Similar, But Different!
You may have heard of the customer journey connected to the marketing funnel. Both models are similar, but they have a different focus.
In contrast to the classic marketing funnel, the customer journey refers to the customer perspective. So the model is better at capturing each customer’s journey and needs. Tip: With a customer journey map, you connect this model with the marketing funnel and record which needs and touchpoints your customers have with the funnel.
A new approach to funnel marketing is the flywheel. In contrast to the classic models, the flywheel presents the process as a cycle and not a funnel. The customer is at the center of the considerations. You can learn more about this marketing method in our Flywheel magazine article.
Conclusion
A marketing funnel can help you on many levels, no matter your chosen approach. It is used to organize your marketing measures. It is also a useful tool for visualizing marketing processes.
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