In this article, we will show you how a marketing funnel works and how it can help convert potential customers into paying customers.
We will also consider how artificial intelligence can assist you.
A marketing funnel helps to understand your customers better
A marketing funnel helps you to keep an overview of your marketing activities. It shows you when and where your customers are interacting with your product/service and which “stage” the customers are currently in. These stages can be split up individually, based on your needs, but most customers fall into one of five stages:
“A Marketing funnel helps marketers to understand which funnel stages work the best and the least, and consequently implement needed changes in order to improve the performance.”
By understanding where your customers are or why they may not be moving from one stage to the next, you’re able to actively adjust your processes and marketing tactics to capture as many customers as possible. Of course, not all potential customers will end up spending money with you. The goal of a marketing funnel is to maximize profit by moving the buyer through the spending journey.
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Especially in B2B-sector and in such products and services where the customer is not driven by impulses, it takes time to convince the prospects to purchase your service/product.
That is why marketing funnel is divided into different stages. During each stage, a potential customer is in touch with the product or service in various ways before they move to the next stage. The prospects are constantly evaluating if the service/product has something valuable to offer for them and if they are ready and willing to pay for it.
Use artificial intelligence (AI) for your Marketing Funnel
It can be especially beneficial for monitoring the effectiveness of your marketing campaign. Artificial intelligence will assist you at each stage and will help to make the right decisions.
For instance, you can try to predict certain changes in each stage and see trends early on and detect unusual or surprising patterns. As an example, if your KPI (which you selected for the Consideration phase) is the open-rate of emails and you’ve got a sudden drop in openings, then AI can help detect these changes and alert you. Use AI to track a variety of KPIs! The more metrics you track, the better you can optimize your marketing funnel.
A proper marketing funnel directs potential customers to your product, but each step requires a lot of attention and work in order to move the buyer along in the right direction. Artificial intelligence have plenty of benefits, and one of the most important one is that it can help you to make the right decision. With AI assistance, you take the pressure off your shoulders and let AI do the heavy lifting.
In the next article we will share some tips and tricks on how to make your marketing funnel with template.