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.