Commonly the Marketing funnel is referred to as AIDA or Attention, Interest, Desire and Action. This is the most common marketing strategy process used by SME’s. And with the addition of the digital marketing world over the last 20 years and particularly with smartphones the funnel has modified slightly.
The marketing funnel is the key driver of all prospecting for your business. Once your business revenue goals are defined then the business objectives will be developed. Following on from this will be the set of strategies that will be implemented to achieve the objectives and then the set of tactics will be created to roll out to meet the objectives.
Your marketing funnel will then drive your sales funnel to work in alignment in order to work on achieving your business growth to achieve revenue goals.
At Hornet Marketing we assist with the development of your marketing and sales strategies and thus the marketing funnel for your business.
We need to understand your target audience, the messages you want to get into the marketplace, your audience, your competitors and so on in order to develop the correct strategies to capture leads into your funnel.
The Marketing funnel is made up of a number of layers that requires specific tasks to be executed at each layer in order hold your prospect in the funnel to the end of the funnel and not lose them through the process.
Top of the Funnel
The top of the funnel is the awareness and engagement stage. Potential customers are searching for solutions and gratification for various products and services all day every day. You never know when your next customer is ready to purchase so maintaining your visibility to potential customers is critical and hence we work on your awareness levels.
Once found by a potential customer through a Google Search or an ad or through a referral your prospect will touch one of your communication tools. Most likely your website in the first instance. The engagement of your prospect with your brand, your products or services is almost immediate and if this fails your prospect falls out of your funnel right at the top. If your marketing communications are well executed and your prospect becomes engaged with your messages then they will move into the middle of your marketing funnel.
Middle of the Funnel
The middle of the funnel is where your prospect is now spending time to discover your products or services. They have been interested and engaged from the initial touch point of your home page or your brochure or EDM and now are motivated by the opportunity to find a solution. They are now hungry for information and should enjoy the experience of discovering your products and or services range.
If your value proposition is acceptable and they are a warm to hot prospect today then your probability of conversion to sale is high. And hence the continued movement through your marketing funnel to purchase.
Of course not all prospects in your funnel will purchase today and you will have prospects fall out of your funnel and not reach the bottom to purchase. You see this in shopping cart abandonment. And hence remarketing tactics to bring lost prospects back into the funnel and move to purchase.
Bottom of the Funnel
Conversion is the goal of any organisation that is involved in the marketing process. Whether it’s a purchase of some sort or a sign up or whatever it happens to be purchase is the ultimate goal.
Not only do you want that purchase today but you want the retention for future purchases from this customer. Future purchases are far more likely from an existing customer as existing customer don’t need to work their way through the funnel as they did when they didn’t know anything about you.
Hence, the value to your business in getting the marketing funnel right is both for today sales as well as tomorrow sales and the power of referrals.
Hornet Marketing works on marketing funnels and in consultation with you and or your team we can develop strategies to increase your marketing funnel success.
FREE 1-HOUR MARKETING
Contact us for your free 1-hour marketing strategy session with our MD