Digital Marketing Funnel – Will This Save Your Business?
There are a lot of instruments, that you can use for improving your business and one of them is digital marketing funnel.
A digital marketing funnel is a sequence of steps that a potential customer goes through, from brand recognition to the final conversion. With proper construction, digital marketing funnel increases the number of potential customers, visibility among potential clients and the total income from your business. That’s a perfect fit for any business, cause digital marketing funnel not only attracting leads but turning them into repeat customers and fans of your brand. It is a cocktail of tactics and techniques that can help a business:
- Get more targeted exposure that only grows with time.
- Gather better quality leads that can be converted with ease.
- Nurture prospects/customers well so they share their experience with others.
In marketing, there is such a model of consumer behavior as AIDA, which describes the person sequence of reactions before making a purchase:
- Attention – the consumer learns about a new product through advertising, recommendations of friends, social networks or in any other way.
- Interest – after meeting with a new product or service, the consumer has a conscious interest in the product.
- Desire – at this stage, the interest of the product passes into a desire to own it.
- Action – the desire is turning into an active action – the decision to purchase and the fact of purchase.
All of these components most often constitute the stages of the digital marketing funnel.
Understand how digital marketing funnel works
There are three main parts to the marketing funnel: the top, middle, and bottom of the funnel. Imagine a marketing funnel that looks like an inverted pyramid. Your potential customers will start from the widest part of the funnel (above), and then, continuing to interact with you through a sequence of emails, blog posts and free or low-cost offers, will go through each part until they stop moving through the funnel of your choice or they become a paying customer (bottom of the funnel).
- The top of your funnel is the stage at which your marketing efforts take a potential client who doesn’t know about your business, service or brand, and acquaints him with what you offer. This is done in several ways; advertising on social networks or sites that your target client can visit; sponsorship of local events; and conversation campaigns or branding campaigns are all common ways to introduce someone to your brand. Here are some of the common tools used to create awareness at the top of the funnel:
- Email list – Collection of the email addresses of your customers and potential customers, which you will try to involve to your digital marketing funnel;
- Email service provider – is a software or company that collects your email list in one place so then you can send emails to all or parts of your email list at the same time;
- Landing page – also known as the consent page, the compressed page, or the engagement page, is the page where people land on when they first learn about your business through advertising or promotions; this is one web page that usually offers a free tool, guide or resource (lead magnet) in exchange for an email address;
- Lead magnet or freebie: A lead magnet is information that is rich in value and which you offer visitors for free in exchange for their email address.
The main point in the middle of a digital marketing funnel is to get users to your landing page and then entice them to sign up for your lead magnet. This turns the potential customer’s interest in your business into a qualified lead. The middle of the funnel closes the gap between the initial introduction and the phase of curiosity. Tools, which are used to encourage action in the middle of the funnel:
- Email sequences – are simply a series of emails that are sent to your customers automatically according to your criteria.
- Advertising. This includes advertising on social networks or sites that your potential customers frequently visit.
- Behavior Tracking Tools: These are tools like FreshMarketer that let you know if your new customer has downloaded your freebie or opened any of your emails.
At the bottom of the digital marketing funnel, a potential customer decides to do business with you. This is called sales conversion. In most cases, conversions are how you measure the success of your funnel. Useful conversion tools, which can be used at the bottom of the funnel:
- Optimizing those within your funnel will be key to the continued success of your marketing funnel, and a tool like Freshmarketer can help;
- Heat mapping tool: A heat mapping tool will create a virtual map of visitors based on where they spend time on your landing page; take a look at tools like Optimizely or Hotjar;
- A/B testing tools: A/B testing tools allow you to see which elements on the landing page are converted best; these elements can be text, image or freebie itself; a tool like Crazy Egg can help you do A/B testing and decide what you can change to get a better results.
How to create a digital marketing funnel
If you wanna create a digital marketing funnel you need to think properly about the main strategy that you will use. A digital marketing funnel strategy ensures that you have all the tools and performance indicators in place to get the desired result from your marketing funnel. Here are the main steps of creating a digital marketing funnel:
- Determine what you will offer. To start building your digital marketing funnel, you have to decide what kind of services or product you are going to offer the customer at the end of your digital marketing funnel. The details of your offer will depend on your business and product range. When you are collecting a funnel, it’s useful to know four basic elements:
– Cost and payment method;
– Format, like digital, physical, print and so on;
– Delivery, like download, email link, and mail;
– Components, which is everything your product includes.
- Create a freebie. Your lead magnet, or “freebie,” is what you offer to your visitors when they get to your landing page. This is what encourages potential customers to click on an ad, visit your landing page and send their contact details in exchange for something valuable. The purpose of your freebie is to attract the attention and interest of potential customers by providing something uniquely valuable. This will encourage them to move further along the funnel and take additional action.
- Write your automated email sequence. An automated email sequence is what follows after potential buyers sign up for a freebie by providing their contact details. Usually, it is a series of emails, which will be delivered for 10 days and show your prospect more about what exactly do you offer.
- Sign up for your email service provider. You need to pick up the right software which will deliver your emails to all addresses or part of them, that you have collected, at the same time.
- Build a landing page. A landing page is a page your visitors get on when they first click on your ad. It is designed to raise awareness, attract interest and encourage them to give you their email in exchange for your freebie.
- Connect each element of your digital marketing funnel. For someone to subscribe to the freebie from your landing page, gain access to it and then start receiving your emails, you need to connect each funnel’s element so that it correctly delivers your freebie and your email sequences. This means connecting your email service provider to the landing page and adding any code you need to track your landing pages.
- Test your digital marketing funnel. Now, when everything is connected, you need to test your funnel and see how it works. Use your email or emails of your friends and check if your system is delivering a freebie and emails without any issues
- Start driving traffic to your website. Now you need to start moving through the funnel, for that you have to increase the number of visitors on your landing page. There are several free and paid ways to do this, so test different approaches to see what works best for you.
- Build loyalty. This means that the clients consider you like a permanent solution to their problems, both for themselves and for others. When your consumers are satisfied with your services and services or products, you have to find a way to ensure, that they will stay with you.
- Optimize your digital marketing funnel. When you finally get the first results, you will see how successful you are. In case, if you are not profitable you need to optimize your marketing funnel. Consider making tweaks to the language or images on your landing page. You might also update the freebie you’re offering. Funnel optimization means learning and implementing path-to-purchase changes to increase conversion rates.
Revenue of digital marketing funnel
When it comes to measuring the success of their digital marketing funnel you also need to look at your revenue. Do not focus on the number of impressions and clicks, that your marketing campaign generated. It is always good to have more clicks and impressions but check how much did you get from those clicks. You may have earned a ton of conversions from your last ad campaign, but it was for low-priced products. For your business, this has produced less revenue. This also led to a poorly performing campaign that failed to deliver value. Make the most of your digital marketing strategies by expanding your view. Make the most of your digital marketing strategies by expanding your view. Explore the analytics of your campaign and look at the results of your business. What impact did this campaign have on daily operations? Some examples include an increase in appointments, products/services range, delivery, and fulfillment.
How to reach modern shoppers using a digital marketing funnel
Considering the variety of digital marketing funnels available, it’s natural to wonder which one should be used by your company. Or even how you can use this funnel to reach your customer. Regardless of which funnel you refer to, there are a few changes you can make to maximize reach and conversion rate.
You can use these four strategies for reaching modern shoppers using digital marketing funnel include:
1) Assistance 24/7. No matter which kind of services of products do you serve, it is always good to have a technical department, which can help the customers at any moment.
2) Brand value. Your brand carries tremendous value. If you want your digital marketing strategy to succeed, you have to use your brand to your advantage. Demonstrate to users at every stage of your purchase funnel that your company understands their unique needs and pain points, and also shares their values.
3) Use artificial intelligence and machine learning. Today, in the digital landscape when all processes are automated, it is highly important to use machine learning and artificial intelligence (AI). They will help you to analyze a huge amount of data, which can help your team quickly develop data-driven campaign improvements.
4) Focus. According to Google, there is another way to improve your digital marketing funnel based on focusing on narrowing your target audience. Even though you want to provide your business to every possible person in the whole market, you can benefit by targeting only the most valuable members of your audience.
Why digital marketing funnel is beneficial?
By now when you must have a pretty good idea of what a digital marketing funnel is, how it works, and how to create it, let us make some conclusions on why it is beneficial:
- Digital marketing funnel increases sales through personalized nurturing of leads
- It is automatized, what’s saving your time and energy;
- Digital marketing funnel creates awareness and trust among your; consumers and helps you to build a brand value;
All of the factors are helping you to become more profitable and close deals faster. Additionally, you can always optimize it by implementing new features or make some changes.