What is a Marketing Funnel and how it works

Marketing is an essential part of growing a business, and in the age of digital marketing and communication there is even more scope to target potential clients.

Using a marketing funnel is a recommended method of getting more conversions.

If you’re someone who doesn’t like jargon don’t worry; we’re going to cut through the jargon and tell you in simple terms what a marketing funnel is, and how to use it.

What is a Marketing Funnel?

The marketing funnel is a method of driving leads to become conversions. It uses several simple steps that you build in at the onset.

Put simply, the funnel takes the consumer from point where they become aware of your product, right through to the purchase point, and sometimes beyond.

Let’s go through the steps one by one, and you’ll see why we call it a funnel!

Step 1 – Creating Awareness

This is the part where you put your brand and product out there, to get people to know about it.

You might use SEO content on your website and blog, or you could put out some online ads. You can use social media, and you can send emails.

This is the broadest part of the funnel, the top, where people start to look closer at your product. Once you create awareness, you need to engage the interest of your potential customers, so the funnel begins to narrow.

Step 2 – Engaging Interest

If a consumer is interested in your product they will look further, and those that were just casual viewers will not make it to this narrower part of the funnel.

You may have a video they can watch, for example, or perhaps customer reviews they can read. More personal emails may be your marketing at this point, perhaps inviting them to a webinar or other presentation.

Now you have them interested, they are evaluating your brand and product.

Step 3 – Evaluation and Decision

At this point the consumer knows what they need to know about your product, and only those that are seriously interested remain.

That’s what you want, as you now have an audience that is more likely to purchase.

They compare your product via its specifications against rival products, and it’s here that you need to convince them of your USP or other reason to choose you. This is where you dangle carrots such as special offers and introductory deals.

Step 4 – Commitment and Sale

You’re that close, and you need to give the consumer personal attention.

A demonstration, a one to one, an online live chat may be the thing to seal the deal at the very narrowest part of the funnel. That’s it, you’ve concluded the sale!

That’s it…

That’s a simplified set of steps that should give you an idea of what a marketing funnel is all about. What you need to do is look at your product or service, and how the funnel narrows for you, and you can set about creating your own version and bringing in those sales.