A marketing funnel is a model describing the customer journey from awareness of the product to the actual conversion. It has long been a topic of contest and conjecture. We call them funnels because the probability of sales and proceeds gradually decreases at each step. Some people opt out, some lose interest, and some choose another portal. Had this not been the case, terming it as a marketing cylinder would have been better! In an ideal situation, all leads would turn into customers – ten on ten returns. The job of the marketers, hence, is to make sure that most of the leads are turned into customers so that their marketing funnels could distort its ways and turn into a marketing cylinder.
Below, I’ll introduce you to the modern online marketing funnel model—the framework that should drive your entire digital marketing strategy. I’ve broken down each stage of the new buyer’s journey and provided marketing strategies and tactics that work best at each phase. You’ll also find real-world examples and expert advice on the “how” of making this work for your business. The goal is for you to walk away with a clear understanding of how the (modern) online buyer’s journey works and how best to market to your target audience at each stage.
In addition to using your sales funnel for strategic planning, you can use CRM software to save time and focus on moving more customers to the end of your funnel with customizable pipelines and email integration features. For example, customizable pipelines allow you to engage with customers in a way that fits your business. Email integration lets you send communications without leaving the CRM.
For instance, if you’re selling marketing automation software to a startup, showcase a startup that 10X-ed their leads. If you’re selling the enterprise version of that marketing software, share a case study from another enterprise company. The enterprise case study is too aspirational for the startup, and the startup case study doesn’t work in front of a huge global marketing team.
Now, this basic sales funnel offers a simplistic view of the consumer journey and the stages buyers go through before making a purchase. So you can use this as a basic template for your marketing strategy. For example, you create brand/product awareness campaigns to build an audience, target this audience with ads to generate interest and deliver content to build emotional desire before hitting them with the big CTA.
However, there are even some who see the funnel as being split vertically, with both sales and marketing owning the full funnel. They argue that the sales people are increasingly becoming thought leaders to drive awareness by doing outbound outreach. In this scenario, both marketing and sales would work to nurture leads and prospects from awareness to purchase.