What is a marketing funnel?
As he mentioned, a marketing funnel is a visual representation of the travel his customers divided into a series of stages.
Funnels serve as a plan to connect with your audience throughout the marketing cycle, starting with tactics that create awareness, and then involve stakeholders interested in the point of purchase and beyond.
Traditionally, marketing funnels ended at point conversion. In this days, Funnels now include follow-ups after purchase, higher sales, cross-selling and advocacy programs aimed at increasing retention.
According to a study Social Sprout, businesses lose collectively to $ 1.6 trillion annually by the loss of customers, and brands that make retention and defense a top priority to see the biggest gains.
Having said that, there is no definitive model that all companies use to define their strategies universally. Some marketers prefer to funnel three stages, “TOFU-MOFU-BOFU” or the top of the funnel, half of the funnel and the bottom of the funnel.
curiously, this idea of the marketing funnel is not exactly new. At the end of the nineteenth century, Elias St.. Elmo Lewis developed a model that disaggregate the various stages in the relationship of a client with a business.
What are the stages of the marketing funnel?
It is difficult to establish an official list of the stages of the marketing funnel. Many vendors today say that marketing funnels consist of five stages: awareness, consideration, conversion, loyalty and defense.
The original funnel, as defined Lewis, It is known as “AIDA” and is broken down as follows:
- Awareness. In this stage, the prospect is aware of the problems they face and is in the early stages of finding a solution.
- Interest. Then, prospects begin the research process and begin to indicate interest in various products or services.
- Wish. In this point, the potential customer has made a list of options and is evaluating the solution of a particular brand.
- Action. Finally, the prospect decides whether to become a customer.
Despite all the new tools and technologies that have added to the marketing process over the past century, the basics of the funnel have remained about the same.
Is he dead funnel marketing?
Does the marketing funnel is dead or not?
A quick search “Is he dead funnel marketing?” It reveals that there is no real consensus, as you can be seen in the example below.
Supporters of killing the funnel make some convincing arguments. On the one hand, the digital path of the client is made up of many different points of contact, which it makes it incredibly difficult attribution, even when it is evaluating their efforts one step at a time.
While digital technology has changed the whole picture of marketing over the past two decades, there are a couple of things that suggest that the underlying framework of the marketing funnel remains largely the same.
On the one hand, the intention of the customer increases as they continue on their path to purchase. On top, It is directed to a passive audience, and toward the bottom, targets high-intent prospects about to make a purchase.
Secondly, as it increases the intention, people leave the funnel, hence the wide mouth at the top and narrow opening at the bottom.
As a last resort, it seems that much of the “discussion alive or dead” It is reduced to the form and the complexities of the journey of the buyer today compared to what appeared in 1898.