The Marketing Funnel
The marketing funnel.
While it’s a fundamental concept to understand, the term is used so widely that it can actually describe multiple things.
In this post, we cover the most important elements of what a marketing funnel actually is, why it’s important to understand, and some action steps you can implement immediately in your own business.
What is the marketing funnel?
Great first question!
The marketing funnel is a simplified way of drawing out the “buyer’s journey.”
Shaped like a funnel (no surprise there), it demonstrates the typical stages that a person completely new to your business will go through on their way to becoming a customer.
Why the marketing funnel is important to understand
Different people at different times want different things from you as a company.
This is the main takeaway of the marketing funnel.
Each stage of the funnel is a different thought going through your potential customer’s head. This means you need to change what you offer them based off of where they are in the funnel.
Some actions for you
Understanding the marketing funnel informs just about every aspect of your business.
Here are just a few ways you can implement it in your business plan:
1) Focus on content creation.
People at the top of the funnel don’t want to buy from you yet. They are just looking for information. Give that to them in the form of useful content, and they are more likely to pay you money when they are ready.
2) Invest time in making “lead magnets.”
Lead magnets will further build relationships with prospects in the middle of the funnel. These are people who already know your company and are maybe interested in finding out more about what you offer.
3) Focus most of your time on “bottom of the funnel” leads.
These people are your most valuable. They are close to buying, and all they need is a reason why. Important at this stage: effective copy on your product landing pages, helpful posts dedicated to product comparison, etc.
While this is only a very brief introduction to marketing funnels, the topic deserves your attention. The marketing funnel is not only a useful way to understand the typical buyer’s journey….but clarifies how you should approach helping leads at each stage!
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