Understanding Marketing Funnel and What to do at Each Stage

There's a tool used in marketing to track the buyer Persona's journey. This tool is known as a marketing funnel. Marketing funnel gives you an overview of your customers' journey with you from when they first learnt about your business to when they are ready to purchase your products or services. It comprises the set of steps your prospect takes before they reach conversion. Simply put, marketing funnel is used to track the steps that leads to conversion. In marketing your product through the strategy you've chosen, you create awareness about your business in line with the solution it proposed to the customer's need, then this propels the interest of your prospects. Some prospects stop at the level of interest but make no commitment to purchase the product you are offering. This explains the different stages in the marketing funnel. A lot of entrepreneurs are quite conversant with all these stages whether online business or offline business. But not quite all understand how to maximize each stage.

A proper understanding of each stage gives you insight as to what approach is appropriate for each stage. The essence of marketing is so that every lead ends up in conversion. This is why you must gain understanding.

¶ Awareness Stage:

This is the first stage in the marketing funnel. This is the stage where you get prospects who are still strangers to your brand aware that you have a solution for their pain point. Most times, your buyer Persona has an existing problem or pain point which they may or may not be looking out for. What you do at this stage matters a lot, it determines if you are going to generate leads or not. 

Obviously, these buyers do not know what you can bring to the table, hence not ready to buy yet, it is left to you to bring the appropriate content that makes them not just aware of the existence of your brand but the awareness that you have the right solution to their needs/ pain point.

It is very true that buyers can leave at any stage in the funnel but since this is the first stage,what you do matters if they can go ahead to see what you can offer in various stages. Therefore, do a thorough research on the pain point of your buyer Persona, provide content/ solution that reflects value without much commitment from their end. Also, you need to be convincing enough in your offer yet without pressure to buy from you.

 In this stage, blog posts, social media posts, how-to videos,eBooks, infographics and educational webinars are the best contents appropriate to get leads.

¶ Interest/Research: 

This is the stage where leads become interested in your brand. At this stage, they go on to research about your brand, products and services. Here, they are searching out for things that will propel them to consider your product and eventually purchase. 

At a time, I needed the services of a coach. Once I got interested in what she has to offer, I quickly ran a background check of her social media platform before making a commitment. This is how it works naturally. Your leads will at this point engage in research, this to get further convinced of their decision. You are thereby to position the right content that will eventually point them to lead conversion. Targeted content to places where your leads will probably check based on your target audience, webinars ,videos and FAQ are good ways to nurture leads at this stage.

¶ Consideration: 

This is the stage where your leads begins to consider if your product is worth it. In doing this, they may begin to compare other brands in the same industry. It is very crucial then, that you guide them into becoming customers by the kind of content you send to them at this stage. Here, you nurture your leads by sending emails, blog posts, free webinars , free tools, case studies and white papers.

¶ Evaluation: 

Your leads are interested based on their research, however they may not be entirely convinced. Here, it is required you bring in the necessary push. This could be in the form of free consultation,eBook, and free trials of phone apps or your services.

How effective the push or incentive you give them will determine if they will purchase or not.

¶ Purchase Stage: 

This is also known as the action stage. This is the stage where a prospect has made a decision to buy and become a customer. This is that point where you lead has been successfully converted. It is necessary to help your leads by using content such as testimonials, demos,free trials and free consultation to pull them through to conversion.

¶ Loyalty Stage: 

Obviously, at this stage your buyer Persona is no longer a prospect but a customer. The temptation to hands off may be there, after all you've gotten your conversion. But then, what happens at this stage determines if they can keep on doing business with you. It is therefore important you provide them with necessary product education that will ensure that you are reliable. In doing this, you will have successfully turned them to loyal customers.

Blog posts, FAQs, tutorials and customer service are some of the content needed at this stage.

¶ Advocacy Stage:

If you have successfully pulled through in your loyalty stage of the funnel, you only have little to do here. Yet, this is the stage with the highest potential to grow your marketing funnel. Loyal customers will definitely turn to advocates for your brand . 

Personally, I've recommended products and services to friends because of customer satisfaction derived. I remember recommending Access Bank to my colleagues because I enjoyed the customer relationship. This is what happens when you've worked efficiently in all the stages. Advocacy stage is your reward in the funnel.

This is the stage where your customers publicize and market your brand without you asking them to. However, you are not to fold your arms, but use referrals, incentives, loyalty discounts at this stage. The good news is that it even increases the marketing done by your customers. Your ultimate goal here is to turn your customers to marketers.