The term digital marketing funnel sounds intimidating, but we promise you have interacted with one countless times. A digital marketing funnel is when you see an ad on a social media platform, click it, get sent to the product page, look at the glowing reviews, and purchase said product. This is a digital marketing funnel and the way so many transactions happen today.
The digital marketing funnel is characterized by its multi-step process of pushing users to buy a product or service in a gentler, less aggressive manner. The purpose of a digital marketing funnel is to expose your business to more users and sell more products. First, it makes potential customers aware of your business and the products and services you offer, which is vital to making any sales. Since consumers are surrounded by so many options in the marketplace, the digital marketing funnel was born to grab the attention of potential customers. In this article, you will learn the importance of the digital marketing funnel and how to create one for your business.
What is a Digital Marketing Funnel?
A digital marketing funnel is how you create your marketing system to attract and usher possible customers from learning about your business to eventually making a purchase. It is a series of steps to delicately direct potential consumers towards your products or services with the goal of them buying something. The digital marketing funnel occurs all on the online sphere now with many different competitors. So it is vital to create an effective digital marketing funnel that draws people in and drives sales.
What is a Traditional Marketing Funnel?
The traditional marketing funnel way back in the day goes back to shopping at local stores, simply because those were the only options and involved a cone shape to attract the masses. Later on, shopping malls were developed and by virtue of going there you were likely to make a purchase. Magazines are also a form of the traditional marketing funnel because they make the user aware of a certain product from a business and direct you to where you can buy said product.
This also translates into businesses that provide a service. In the past, you had to go to the company’s office to learn about the services they provide rather than the internet. Often, these companies had a highly-priced consulting fee if there was no competition in the geographical area. This traditional marketing funnel was effective for the times because of the dependence to stay local.
How is the Digital Marketing Funnel Different?
The digital marketing funnel differs from the traditional marketing funnel because this platform operates online. Plus, there are many more options for products and services. Back when the traditional marketing funnel was more widely utilized, consumers were limited to companies within a certain geographical area. The internet allows a broader reach to people all over the world. It expands the potential customer base as well as companies consumers can choose from. Consumers see countless advertisements and messages from many businesses every day. So it is important to have an effective digital marketing funnel that provides results. The advent of the internet has made it possible for online users to easily peruse products and services from the comfort of their home. The difference in the marketplace allows users to take time on their decision to buy a product or services. Before, these decisions were immediate.
The Components of a Digital Marketing Funnel
Since a digital marketing funnel involves a series of steps for the user, it is made up of multiple different parts. A popular method for explaining the sections of a digital marketing funnel is through three parts. These components include the top of the funnel (TOFU), the middle of the funnel (MOFU), and the bottom of the funnel (BOFU). There are ways to make content for every stage of the funnel.
Top of the Funnel
This part of the digital marketing funnel is when a potential customer lacks awareness of your product or service. So your marketing is geared towards introducing your business and making users familiar with what you offer. There is not just one way to achieve this. It is dependent on your target market base and what kind of company you are. A popular method for TOFU marketing is sponsored ads on social media platforms or blog posts related to what your customers look up. The main goal of the TOFU stage is to spread brand awareness and captivate your audience. Through this, you will hopefully inspire them to explore your company.
Middle of the Funnel
So now that your audience knows that your company exists and what you provide, this is when you want to create value. At this point, users are interested in what your business offers. But, they have not made that final push to purchase anything. You have to keep the attention of the audience and really pique their interest. Hopefully, you have enough of their attention that they subscribe to your company newsletter where you can send them information that increases value. These messages solidify your company in the customer’s mind that can carry them onto the next stage.
Bottom of the Funnel
This stage is where people are ready to make a purchase from your company. The most important thing to do here is to make your product or service look as appealing and presentable as possible. You want something that will instigate a customer to make a purchase, like a special limited-time deal or testimonials so they take the plunge. These methods should increase sales conversions which is the ultimate goal of a digital marketing funnel. The success of a digital marketing funnel is usually determined by its number of sales conversions it created.
How to Create a Funnel Marketing Strategy
Make Ads and Create Content
In order for the digital marketing funnel to even work, potential customers need to know that your business exists and what you offer. Determine what social media platforms your target base frequent and place ads on there to reach them. These ads and the content should not be too pushy, but more educational and objective. There are so many types of advertisements and content that can be tailored to your specific business. The ads and content include:
- Pay-per-click ads
- Social media ads
- Industry studies
The way to determine what kind of content you should create depends on your audience. Your approach will differ whether you are targeting consumers or businesses. For consumers, the best social media platform to run ads would be Instagram and Facebook since it is easy to highlight your product or service here. You can also utilize blog posts since these are more direct and personal so you can add your company’s spin to it. Fun quizzes can be really interesting to customers and are one of the most clicked on links online. If your company is advertising to other businesses, LinkedIn ads would be beneficial since it is a website for professionals. The kind of content you can put out on LinkedIn revolves around hard data like industry reports and research studies.
A Tempting Offer Customers Can’t Refuse
Once your customers are aware of your business and what you bring to the table, this is where you make it interesting. You do not want your previous ads and content to be a dead-end stop. It is important to incentivize learning and digging deeper. This aspect and incentivization should be tangible, like a course or ebook depending on your business. These are called lead magnets and attract people to subscribe to your newsletter and stay in the loop of your business.
Have a Landing Page
If you do not have a landing page on your company’s website, where do you expect potential clients to show up? The landing page is where users end up after clicking on an ad. It is there to gently guide these users and demonstrate industry knowledge.
Any potential customers at this point are interested in the company and the products or services offered. This is where the email sequence comes in. The email sequence is where a number of emails are sent that are meant to push the customer to the bottom of the funnel. Once they reach the bottom, ideally they make a purchase. These emails remind the customers that you exist and what you are all about.
Put it All Together
In this age, all the components of the funnel marketing strategy are put together to create a cohesive platform. You can install some software that ensures that your funnel is working well together so you can create meaningful conversions. Softwares that can measure these metrics include UBounce and AWeber. They can also help automate functions of the funnel, saving you important time.
- What are the components of a digital marketing funnel?
- What is a traditional marketing funnel?
- Why is a digital marketing funnel important?
- What is the goal of a digital marketing funnel?
- What platforms are best for a digital marketing funnel?