What is a marketing funnel?
A marketing funnel aids in the understanding of your consumers’ journey. A marketing funnel depicts the route from product/service awareness to conversion. With the help of a marketing funnel, you can influence your customers purchasing decisions. It can result in greater sales, more loyalty and stronger brand awareness.
Stages of the marketing funnel
Making customers aware of your products/services is essential. It is also important to convey to the customer that you have the right solution to their problem.
This is an important stage in the marketing funnel as you need to nudge and convert your customer’s high intent to purchase decision. Providing lucrative decisions can be beneficial here.
Stages of Revamping Digital Marketing Funnel
Your relationship with your customer should be long-lasting and not end after they buy products or services. Always remember that the cost of acquiring any new customer is 3 times higher than retaining one.
Awareness – Making prospects aware of your products by posting on social media, logs, etc..
Consideration – Contact your prospects and explain why your product or service are more suitable than others.
Conversion/Buy – A visitor will now become your customer
Loyalty – Give your customer a reason to stay. Offer them special discounts on special occasions like birthdays, anniversaries, etc.
Advocacy – Once a customer has grown to trust you, they will help spread good words for you i.e. increase in your brand’s credibility.
How to convert your customers into advocates?
• Reward them with exclusive discount coupons.
• Take feedback from your customers to improve your product/service.
• Sending small gifts or sample products.