In the previous article we discussed how marketing funnel concept can help you to monitor and plan your marketing campaign.
Today we will show you how to create your own marketing funnel with 5 easy steps!
Stages of a Marketing Funnel
There is no single model of marketing funnel that every business should follow. Depending on the type of business marketing funnels vary quite a lot and might include many stages before the final stage is arrived at. Nevertheless, we will only focus on the most significant stages of a marketing funnel and the most widely adopted.
Let us have a look at a simple marketing funnel and its basic phases. For each stage we provide examples of goals, important KPIs and useful tactics which company can apply.
Feel free to use our “Marketing Funnel Template”, which you can find at the end of this article.
Let’s have a look on how a marketing funnel could look like:
In this phase, potential customers are not aware of the existence of your product/service. Therefore, your goal as a company is to create awareness for your business among the potential target audience.
- Customer Goal: Solution, In search for new, engaging information
- Company Goal: Reach, Company awareness, Attract, Increase traffic
- Tactics: SEO, SEM, display ads, events, blog, influencers, social content, infographics, short YouTube videos, infographics
- Important KPIs to track: Visits, CTR, bounce-rate, followers
In this phase, potential customers have started looking for the value that your product/service has to offer. Prospects search for answers to their questions such as: Does this solve my problem? Does it add value to me? Am I ready to pay for it?
- Company goal: Engage, improve lead conversion rate, building a relationship with prospects, Create the need for potential customers to start using your product
- Customer goal: Information, Value, Evaluation
- Tactics: Courses, newsletters, video content, templates, ebooks, webinars, white papers, testimonials, case studies, landing pages with CTA like free templates, checklists etc.
- Important KPIs to track: Number of sign ups, Open-rate, CTR, unsubscriptions, Time-on-site, number of downloads
In this phase, the potential customers have a better understanding of your product and the value it offers. You, as a company, have established a relationship with the potential customers and have already been in contact with them discussing the various ways and tactics that have been presented above.
- Company goal: Trial sign ups, number of paying customers, well executed CRM
- Customer goal: Customer support, Adequate Price=Quality, Easy onboarding
- Tactics: Customer support calls, personalized emails, limited-time offers
- Important KPIs to track: CAC, customer feedback, number of active customers, reviews
In the loyalty stage, the main goal is to keep the customer and avoid shunning them. This can be achieved by maintaining a good relationship with the customer and keeping in good contact with them. One other important factor is upselling at this stage (i.e. more options or other products of your portfolio).
- Company goal: Keep customer, happy customers
- Customer goal: Good experience with the product/service
- Tactics: Survey’s, regular updates (Mail, calls or meetings), Relationship management (i.e. Account management)
- Important KPIs to track: Activity of the customer, CTR, Net Promoter Score (NPS), reviews
In this last and very important phase, the customer can actually be requested to refer you to other potential customers. This is a very interesting stage, as it can help you grow your market share significantly without requiring high inbound marketing efforts. This is achieved through referrals.
- Company goal: Number of customers growing
- Customer goal: Share experience of a good product, get a discount
- Tactics: Referral programs
- Important KPIs to track: amount of referrals, customer feedback
As you are building your marketing funnel, you should assign metrics to track each stage of the process.
We wish you great success with your marketing funnel planning!
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