Ever wonder about where to find funnel hacks to accelerate your sales cycle? Or how other businesses even begin to turn someone just browsing around into a loyal customer? Or even what a marketing funnel actually is? Let’s check it out together!
What is a Sales Funnel
Picture a funnel: wide at the top and narrow at the bottom. This is exactly how the marketing funnel works, guiding potential customers from just hearing about a product all the way to actually buying it.
A marketing funnel is a model that illustrates the journey a customer goes through before purchasing a product or service. It’s often depicted as a funnel because it starts broad at the top and narrows down towards the bottom.
How to Build a Funnel
Let’s dive in, breaking down each stage from the initial ‘Hey, what’s this?’ moment to the exciting ‘I need this in my life!’ decision. It’s a fascinating process, and understanding it can totally change the way you see the journey from curious onlooker to happy customer. Ready to explore? Let’s get started!
Here are the basic steps of a marketing funnel, with a brief description:
- Awareness: Potential customers become aware of a product or brand. This can happen through various channels like advertising, word-of-mouth, or social media.
- Interest: Once aware, customers start to show interest in the product. They might research more about it or follow the brand on social media.
- Consideration: At this stage, customers evaluate the product against their needs and other competitors. They might read reviews, compare prices, or seek opinions from others.
- Intent: The customer’s interest evolves into a concrete intention to buy. They might add the product to a cart or visit a store.
- Evaluation: Just before the purchase, the customer might reassess their decision, perhaps considering factors like price, features, and alternatives.
- Purchase: The final stage where the customer actually buys the product.
After the purchase, some models include additional stages focused on customer retention and loyalty, such as Post-Purchase Evaluation and Advocacy, where customers might leave reviews or recommend the product to others.
The marketing funnel helps businesses understand and strategize how to effectively guide potential customers from awareness to purchase, and beyond.