It is easy to get overwhelmed when you’re lost in the sea of misinformation, and debates over the topic of the ideal Marketing Strategy while formulating plans for your Business.
To make matters worse, we have a barrage of those “magic success-mantras” being peddled by all those “enlightened” marketing “gurus” who claim to have figured out the secret to Marketing Success, and of course you can get access to the secret knowledge, that will make you millions, for “just a few bucks!” (XD).
So here is an honest blog post written with the genuine aim to clear the air a bit for you, so that you have some direction to get started with your Marketing Strategy. Let us start by making it clear that THE “PERFECT” MARKETING STRATEGY is only as real as a tooth-fairy.
That said, we will try to understand how to go about Marketing using a really old, time-tested, structured approach known as the Marketing Funnel.
What is this “Marketing Funnel”?
The Marketing Funnel, or Sales Funnel, is a consumer-centric marketing model used to describe the Customer Journey in a simple, easy to understand, visual manner.
As the name suggests, the Marketing Funnel looks like…you guessed it…a funnel. So let us understand the structure of the Marketing Funnel, to understand the customer journey better, through the following infographic.
So okay, what this infographic tells you looks fairly elementary. Now how does this information help you with your business?
Any marketing (and hence, sales related) problem that you encounter in your business, is the result of some error in at least one of the stages in the funnel, and you need to fix your funnel if you’re having problems.
Direction
Let us go through each stage of the Marketing Funnel, and understand what needs to be done for every stage…
Awareness
If you’re just starting out, this is the first, and we think the most important (priority) section of the marketing funnel for you to focus on. Invest time, and thought in Branding. This step helps your business be “that thing” rather than just “some-thing”.
Strategies will be useful in this stage even if your business has been around for some time.
- Social Media is one of the best means for generating awareness on a budget. Figure out what Social Platform would be most suitable for you based on your business, and your target audience.
For e.g., if you are a fashion brand, your efforts should focus more on Instagram, whereas if you are offering a SaaS based service for corporates, LinkedIn is more suitable.
Social Media also makes it really easy for you to gather details about your audience. Use analytical tools for data on how your (Display) Ads are doing with your audience.
- Search is where you need to be. At least locally listed if you have a physical retail presence.
And if you can afford to, do invest in marketing over Google Display Network. And again, the Google Analytics tools are always a great help!
- Great Content is the key to good Awareness. Humans are consuming more content these days in a few hours than their ancestors did in a week’s time. Figure out what platform would suit your audience, and budget that would suit you. And, plan accordingly. YouTube is good if you can spend. And, blog, sometimes guest-blog too. Good SEO techniques will take you places!
- Where did the majority of your audience land on your website from? Invest more in that direction.
- Try to figure out ways to provide value to your customers. People love free stuff, so have them try some, and maybe they like it? Netflix, Amazon, Spotify, they all want you to consume their content for free for a month (Flipping around the Marketing Funnel), so that when you decide to make the most out of that free month, you get hooked on their content. Now, we understand that this cannot be done for all products, and services, so figure out ways that work for you.
- Your aim for this stage of the Marketing Funnel should be to Attract the Audience.
Consideration
How good a job you did while building awareness will directly affect how your customers will consider you when they consolidate their desire for purchase. This stage in the marketing funnel will be where you’ll see how effective your lead-gen strategies are, and if your business is perceived as a Brand.
- Prospects who had dropped-off after encountering your business (in the Awareness stage) are likely to visit your website through search. Make sure you get their Email, and if possible, their Contacts, when they do.
- Make it really easy for them to sign up for your email newsletters. Do not make them fill forms, and instead have them Log-In through Google or Facebook. You will have what you need, and they will not feel like they had to share personal details or make efforts. And, please make sure your website is optimized!
- Offer free advice or tutorials if applicable. YouTube videos explaining how to use products is a great way to be considered.
- Start PPC, we know it is a bit expensive, but once you learn how to harness PPC, it will prove to be a good workhorse.
- Start with Retargeting.
- Your aim for this stage is to Engage the audience.
- Quizzes can be a great means of engagement. Figure out what works for your business.
Comparison
When the customer moves from “Should I buy some product like this?” zone to “Whose product should I buy?” zone, they are in this stage of the marketing funnel. Make sure to personalize your Retargeting in this stage. You need to stand out from your competition. How do you do that?
- Remember those Email Addresses we got when the customers logged-in? Use Email to communicate with your customers on a personal level (Email Automation).
- Focus more on educating people with your content, especially for the audience that patiently reads your content. Give them a bit more!
- Implement special offers/discounts in your Retargeting strategy for this stage.
- Although you see how rivalries like McDonald’s, and Burger King work for them, Comparative Advertising could end up harming both, your business, and your reputation. See what your competition is doing, learn from their success, and their mistakes, but remember that they are just another party trying to do business, not your sworn enemy.
- Focus more on SEO at this stage. Invest time in creating good content that the customer would want, and be mindful about the techniques.
- You aim should be to somehow delight your audience. Try to figure out how you can do that.
Conversion
Conversions can mean anything you expect your audience to do, like signing-up for the newsletter is a conversion. But for our purpose here, Conversion refers to “purchase”.
- Conversions do not just take place after comparison, but the Marketing funnel is based on the average behavior of the customers. And, most customers like to take their time to convert. Now obviously that is not applicable for all businesses. For example, customers follow a really quick decision-making procedure while purchasing FMCG, whereas they would take their time, and compare all their options while purchasing a cellphone.
- But there is also a population that is quicker to convert, for e.g., about 1-2% of the audience that clicked on your Display Ad, and reached on your landing page for the first time can be expected to convert (and if you play all your cards right, that might grow to about 5%). So, make sure you have the necessary apparatus in place for them.
- But in the case that they take their time, start adding purchase CTAs (Call to Action) to the Ads you display them the third time you Retarget them, and get a little more aggressive with your fourth, and fifth encounters. We know of that old saying about your customers coming across your brand seven times before they buy, but we also now know that the majority population reacts with negative emotions, beyond the fifth time of Retargeting Ads.
- But certainly, there are people who will take even more time, and will happily hear from you beyond those numbers. These people will follow all your blog posts, and consume all video content, and do more research about your product diligently. So, you should treat this lot with special discounts, offers to get rapid conversions, and even some more delightful content when you identify them.
- Your Display, Search, PPC, Social, Content, and Email efforts should be at an optimal level of coherence at this stage.
Retention/Advocacy
A Marketing Funnel is supposed to do a lot more than just get you a conversion. In fact, it is supposed to set you up for many more conversions. And, that is the reason we prefer the term “Marketing Funnel” over “Sales Funnel”.
Once you have a converted customer, you now have a prospective mouthpiece in the society, that has the potential to advocate your products/services to a lot of other potential customers. But for that to happen, your retention should be in order.
- Follow up with every buyer for their valuable feedback, and make sure you give them an ear.
- Plug the tiniest holes in your customer service, because this can sink your entire ship!
- Consolidate your post-purchase relationship on Email, and send them an extra mail with special guidance, and treats if possible. It can be as simple, and cost effective as special content, and knowledge reserved only for customers.
- Give them a discount on their next purchase. Also, an extra amount off if they get someone else on board.
Before we conclude, you need to understand that you need to take your plan, and divide it into doable little pieces. Also, it is advisable to focus your efforts only on two stages of the marketing funnel at a time.
When you discover that there is a problem at a particular stage of the funnel, use analytical data from the previous, and the next stage to figure out problems. Use A/B testing for whatever strategy you’re unsure of. Always read more, and keep learning.
And most importantly, do you know what the best marketing strategy is?
Genuine CARE. We know you think we are being cheesy, but really, in the most rational tone, your business will not last long if you do not care about your customers, or about how you do business, about the environment, and more importantly, your people…those people who are responsible for doing good work for your business!
If you will take responsibility, and care for the people who work with you, and they feel valued at work, they will too value their work, and take responsibility for the people around them, including your customers, and you. That is how people flourish, and that is how teams flourish, and that in turn is how the society flourishes.
Would you like our help with fixing your marketing funnel, or with any other digital issues that you have encountered in your business? Genuine Care…