When it comes to marketing, we really think that ads will be given, people will be engaged, and sales will come. Today we will see that this is a wrong concept.
Maybe some sales can be generated by adding ads or running a campaign. However, this business model is not feasible over the long term.
So, what to do? One part of that is, that I will try to know about the marketing funnel. First, it’s important to comprehend what a funnel is.
If you want to know the Marketing Funnel, you must first know what the Funnel is
Funnel is an English word. The term funnel refers to an object or device with a shape that begins very wide and tapers downwards until it finally becomes very narrow. When we pour oil into a bottle we use a beaker. This is called a funnel.
So let’s get to the point. In the same way that the oil pouring machine in the oil can slowly get smaller from the top and can reach the right place through a narrow place, marketing can reduce a large target audience or prospect step by step and convert this audience into a customer. That process is called “Marketing Funnel”.
You deliver an ad to 10 lakh people but only 5000 are sold from these 10 lakh people. Then the rest who were interested but could not make a decision at first sight – how to help them to make a decision again.
This process is called a funnel. That is the process of converting a cold customer into a hot customer and confirming the sale is called a sales funnel.
Why do Sales Funnel?
Let’s say you boosted a post with $05. That post got about 5000 engagements. Out of that, 5% or 250 people came to your inbox. A maximum of fifty people will purchase your good or service from this. To the remaining 4750 users who would like to use your goods or service but which you were unable to sell. You’ve been successful in closing deals with people who are eager to use your goods or services.
The 4750 individuals that are left are your cold clients. They may not have made the decision at first glance or didn’t have the money or needed it, but they were interested in your service or product. Maybe they didn’t find your post later. The simple fact that you chose not to remarket cost you 4750 clients.
You could simply retarget them if you made a sales funnel and aired advertisements. Retargeting and displaying your advertisement frequently will enable you to convert them into hot prospects and finalize the transaction.
Why is the Marketing Funnel Important?
1) Using the data you had obtained, funnelling allowed you to retarget customers who did not make an immediate purchase.
2) You may keep clients on follow-up by using funneling.
3) Nearly all clients can be gradually sold products or services.
4) Helps in your comprehension of the information that clients anticipate receiving from you.
5) Boosting without data (Information) can never be successful.
6) Why waste money on boosting when you can message your 5000 potential clients at any time with an update?
Why do you do Marketing without boosting?
Boosting is the delivery of a specific post on a page to people for a specific period of time. By doing this you will get some instant sales and some page likes, but later it will not be of any use to you.
Suppose you want to sell a necklace. Boosted your necklace post for that. Many people liked the necklace you posted. You have a good sale. But there remained many who liked your necklace but could not buy it. Maybe they didn’t have money or time to buy or couldn’t decide to buy. Boosts but you can no longer re-target them. Due to this, you lost many of your customers. You can only sell to those who are hot customers of this product.
But, if you had launched your campaign in the right way, you could have increased your sales by re-targeting them (Cold Customers) and turning the cold customers (Hot Customers) into hot customers.
Marketing is a resource-based industry, there are different types of funnels. For example,
AIDA Model
Hourglass Funnel
Deviating Model
TOF-MOF-BOF etc. Different models are used at different times by the market and by the marketer.
However, the most widely used funnel among them is AIDA. This funnel again has 4 steps. For example:
- Awareness
- Interest
- Desire
- Action
Awareness
A new customer doesn’t know anything about your brand or business, so your first task is to introduce them to your brand.
At this point, the client has a particular issue and is looking for a fix. Right now a brand appears in front of him with a possible solution to that problem.
Therefore, identify the customer’s pain points and present your product or service to solve them.
Interest
At this stage, customers want to know detailed information about the product or service. Provides ideas on how products and services can solve customer problems. Consumers are attracted to a brand’s goods or services.
Therefore, at this stage, provide customers with detailed content/information about your product or service that will make them interested in that product or service.
Decision
At this stage, the customer is ready to buy products and services and has multiple brands under consideration. Check out the various brands in the list and decide to buy the product or service.
Therefore, you have to impress him in such a way that he thinks that you are the best among others.
You can offer customers free sample products or offer demos of services.
The type of content/information to be provided to customers at this stage,
Product Description
Pricing pages
Product comparisons
Customer reviews and product recommendations
Demo Services or Product Samples
Consultations
Offer
Action
At this stage, the customer completes the purchase of the product or service of choice from a specific band. A customer needs to provide the best experience to order your product or service hassle-free.
Therefore, the order process should be shortened to speed up the customer’s shopping time and various attractive offers, discounts, or coupons can be given if needed.
In what cases should Marketing be done without a Sales Funnel?
- Marketing for the branding of an organization or business.
- Customers do not easily decide to buy products or services.
- If the cost is high for the client.
- A product or service that is not very important to the customer but will be purchased later.
- If there is a negative perception about the product or service in the market.
- If the product or service has too much competition.
In cases where it is possible to succeed in Marketing without a Sales Funnel
1. Which are our daily necessary products or services? For example: rice-dal, pen-book, etc. which we use daily, and the price is also low.
2. A product or service that is in high demand. Eg: When the FIFA WORLD CUP is on, the demand for tickets is high.
As a result, with an e-commerce business, “there is no substitute for proper strategy.”
How the Sales Funnel Works
There are generally three types of buyers in the market.
Firstly:
Such buyers are desperate to buy the product. He starts looking for the product himself to buy. He is ready to buy the product once he finds the seller. So as soon as the advertisement of the product is seen in his eyes, the product will be sold for sure. They are hot customers. However, there are not many of them in the market.
About 10 percent of hot customers are in the market. An example can be given here. Today life without a network has become difficult. People want more megabytes for less. Skito SIM has been branded targeting this concept. They promoted more megabytes at lower prices. So those who were hot customers rushed to buy Skito SIM.
Secondly:
Such customers may not buy the product. But they can be impressed by creating a sales funnel. Enticing advertisements about the product, building trust in the organization, and various offers can win their minds. At this stage, it is easy to convert them into buyers. Their number in the market is only 30 percent.
Thirdly:
Such customers have no intention to buy the product and even they do not know about the service of the product. It may be that they have a negative perception about the product. They are called cold customers. Their number in the market is 60 percent.
Such cold customers are usually targeted by creating a sales funnel. By advertising, they are informed about the product. They are made to understand how the company’s product will work for them. How to use the products will benefit them, and improve the quality of life. By presenting such different types of advertisements in front of them, they begin to understand the importance of the product.
They keep thinking that buying the product will be good for them. Some labor will be reduced. Thinking about all these things they are interested in buying the product and at some point they buy the product. In this way, a cold customer can be converted into a hot customer through the sales funnel. But if the digital marketing funnel had not been created, the order from the cold customer would never have been received.
Now you must understand how the digital marketing funnel works. So before you start your business, feel the importance of a digital marketing funnel. Think about creating a sales funnel.
If the digital marketing funnel was not created, the order from the cold customer would never have been received. Now you must understand how the digital marketing funnel works. So, before you start your business, feel the importance of digital marketing funnel. Think about creating a sales funnel.
