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While the customer journey doesnu2019t look like a funnel today, itu2019s still adding value to the sales and marketing processes of an organization. The marketing funnel strategy is a technique that helps organizations to visualize the online journey of a customer, from awareness to conversion and hopefully beyond.<br>
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THE MARKETING FUNNEL STRATEGY -2022 JOIN US www.qrsolutions.in
While the consumer journey doesn’t look like a funnel now-a- day, it’s still increasing value to the sales and marketing operations of an enterprise. A marketing funnel strategy is an approach that helps enterprises to visualize the online journey of a consumer, right from awareness to the conversion process and hopefully beyond. It’s an unwritten rule that always, there will be customers that get the hell out from the funnel without making the conversion. The role of marketing teams is sending a lot of leads into the marketing funnel and working on reducing the chances of prospects that exit each stage of the sales or marketing funnel.
KEY STAGES OF MARKETING FUNNEL Let’s take a look at the key stages of the marketing funnel are TOF (Top of the funnel) – Awareness, Interest MOF (Middle of the funnel)- Consideration, Intent, Evaluation Bottom of the Funnel- Conversion TOP OF THE FUNNEL Awareness The TOF (top of the marketing funnel) is where customers find an awareness of the brand and connect with it for the very first time. This is the first section of the marketing funnel where customers do not know the enterprise’s services and products. This section concentrates on marketing material and articles and guidelines that promote awareness of the particular website or brand. Interest Interest is one of the marketing funnel stages. During this stage, the customers start to show an interest in the tools or services of a company.
MOF (MIDDLE OF THE FUNNEL) Consideration This is the middle stage of the marketing funnel where potential customers enter and engaged with the brand firmly. Intent The intent is also a middle stage of the marketing funnel where engaged customers demonstrate their desire or interest in purchasing from enterprises. Evaluation It’s is also a mid-section marketing funnel stage where the audience or prospects make a final call about whether to buy from a company or not.
BOF (BOTTOM OF THE FUNNEL) Conversion The bottom of the funnel (BOF) is the end stage of the marketing funnel where customers make the decision and become a buyer who readies to buy things. Key Strategies to Enhance the Marketing Funnel Examine the objectives of every stage in the marketing funnel Implement KPIs for each stage of the marketing funnel Show attention to the MOF ages to keep away from troubles in conversion Develop a meaningful journey Each objective of the marketing funnel should be customer-focused Let the marketing funnel grow and regulate Uses of Marketing Funnel The marketing funnel is extremely beneficial to all sizes of businesses. Some key benefits of the marketing funnel are Understanding the customer’s journey Tracking more than sales Optimize marketing strategy Increase sales Easier to close deals Save time and effort Predict future sales Customer retention Finding a suitable marketing strategy
SALES FUNNEL AND MARKETING FUNNEL DIFFERENCES Characteristics Sales Funnel Marketing Funnel Refers to a technique that guides an intensive customer from the marketing stage to the stage of conversion. Refers to the process of lead conversion. Definition Marketing funnel focuses more on business or brand awareness and recognition. Sales funnel focuses on making more services or products sales Focus Maintains the customer’s interest Creates the customer’s interest. Interest
B2B AND B2C MARKETING FUNNEL DIFFERENCES Both B2C and B2B customers go through almost the exact levels of a marketing funnel, but some differences will be out there. In Business to Customer (B2C), buyers make decisions of purchasing alone. It’s a short buying model and customers only need less product research. The marketing team only drives the entire process without a salesperson. Conclusion Creating an effective marketing funnel is not an easy one, but it’s a great opportunity to drive quality improvements when closing deals. It helps customers go through each stage of the buying process without any trouble.
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