How the Marketing Funnel Works From Top to Bottom - Skyword

Awareness: Awareness is the uppermost stage of the marketing funnel. Potential customers are drawn into this stage through marketing campaigns ... SolutionsBuildaContentStrategyFindandManageTalentCreateContentatScaleGlobalizeandLocalizeContentProveandOptimizeImpactSoftwareContentMarketingSocialAnalyticsTalentNetworkPartners&IntegrationsServicesContentStrategyEditorial&CreativeData&InsightsTraining&SupportOurWorkCreativePortfolioCustomerStoriesOurPerspectiveContentStandardResourcesCompanyAboutUsFreelancewithUsRequestaDemoSolutionsBuildaContentStrategyFindandManageTalentCreateContentatScaleGlobalizeandLocalizeContentProveandOptimizeImpactSoftwareContentMarketingSocialAnalyticsTalentNetworkServicesContentStrategyContentAuditsEditorial&CreativeData&InsightsTraining&SupportOurWorkCustomerStoriesCreativePortfolioContentStandardResourcesAboutUsAboutUsCareersContactUsFreelanceforUsLoginSkyword360SkywordIntelligenceSkywordSocialRequestaMeetingContentStandardMarketingContentStrategyCreativitySubscribeThereisalotofdebatesurroundingthemarketingfunnel—fromwhoownsit,beitmarketingorsales,towhetherornotit'sstillrelevanttotoday'sconsumerbuyingprocess.Here,we'llexplainwhatyouneedtoknowaboutthemarketingfunnel,anddiveintorecentchangesandrisingchallengesformarketers.I'llcompareB2CandB2Busesofthefunnel,breakdownthehypearoundthemarketingvs.salesownershipdebate,explainhowthefunnelcanbeflippedtocreatemoreleads,andexplorenonlinearapproachestothefunnel.First,let'sestablishabasicframeworkforthefunnel,sowecanbetteraddresstheseissues.Whatisthemarketingfunnel?Themarketingfunnelisavisualizationforunderstandingtheprocessofturningleadsintocustomers,asunderstoodfromamarketing(andsales)perspective.Theideaisthat,likeafunnel,marketerscastabroadnettocaptureasmanyleadsaspossible,andthenslowlynurtureprospectivecustomersthroughthepurchasingdecision,narrowingdownthesecandidatesineachstageofthefunnel.Ideally,thismarketingfunnelwouldactuallybeamarketingcylinder,andallofyourleadswouldturnintocustomers.Thoughthisisnotarealityforbusinesses,itispartofamarketer'sjobtoturnasmanyleadsintocustomersaspossible,thusmakingthefunnelmorecylindrical.It'simportanttonotethatthereisnotasingleagreeduponversionofthefunnel;somehavemany"stages"whileothershavefew,withdifferentnamesandactionstakenbythebusinessandconsumerforeach.Inthediagrambelow,we'vedoneourbesttopulloutthemostcommonandrelevantfunnelstages,terms,andactionssothisinformationisusefultoasmanymarketersaspossible.MarketingfunnelstagesandconversionsI'lltakeyouthroughthefunnelstagebystagesoyouhaveafullunderstandingofhowitworks.Awareness:Awarenessistheuppermoststageofthemarketingfunnel.Potentialcustomersaredrawnintothisstagethroughmarketingcampaignsandconsumerresearchanddiscovery.Trustandthoughtleadershipisestablishedwithevents,advertising,tradeshows,content(blogposts,infographics,etc.),webinars,directmail,viralcampaigns,socialmedia,search,mediamentions,andmore.Here,leadgenerationtakesplace,asinformationiscollectedandleadsarepulledintoaleadmanagementsystemfornurturingfurtherdownthefunnel.Interest:Onceleadsaregenerated,theymoveontotheintereststage,wheretheylearnmoreaboutthecompany,itsproducts,andanyhelpfulinformationandresearchitprovides.Hereisanopportunityforbrandstodeveloparelationshipwiththepeopleinitsleaddatabaseandintroduceitspositioning.Marketerscannurtureleadsthroughemails,contentthatismoretargetedaroundindustriesandbrands,classes,newsletters,andmore.Consideration:Intheconsiderationstage,leadshavebeenchangedintomarketingqualifiedleadsandareseenasprospectivecustomers.Marketerscansendprospectsmoreinformationaboutproductsandoffersthroughautomatedemailcampaigns,whilecontinuingtonurturethemwithtargetedcontent,casestudies,freetrials,andmore.Intent:Togettotheintentstage,prospectsmustdemonstratethattheyareinterestedinbuyingabrand'sproduct.Thiscanhappeninasurvey,afteraproductdemo,orwhenaproductisplacedintheshoppingcartonanecommercewebsite.Thisisanopportunityformarketerstomakeastrongcaseforwhytheirproductisthebestchoiceforabuyer.Evaluation:Intheevaluationstage,buyersaremakingafinaldecisionaboutwhetherornottobuyabrand'sproductorservices.Typically,marketingandsalesworktogethercloselytonurturethedecision-makingprocessandconvincethebuyerthattheirbrand'sproductisthebestchoice.Purchase:You'rehere!Thisisthelaststageinthemarketingfunnel,whereaprospecthasmadethedecisiontobuyandturnsintoacustomer.Thisiswheresalestakescareofthepurchasetransaction.Apositiveexperienceonthepartofthebuyercanleadtoreferralsthatfuelthetopofthemarketingfunnel,andtheprocessbeginsagain.HowdoesthemarketingfunneldifferforB2CandB2Bbrands?TohelpyoubetterunderstandhowthemarketingfunneldiffersforB2CandB2Bbrands,takealookatthemodifieddiagrambelow,whichoutlinesB2CandB2Bconsumeractionsandconversionsineachstageofthefunnel.KeydifferencesbetweenB2CandB2Bmarketingfunnels:MostB2Cconsumersnavigatethefunnelaloneorwithasmallgroupoftrustedadvisors(usuallyfriendsandfamily),whileB2Bconsumerstypicallyhavealarger,cross-departmentalbuyinggroup.TheaverageB2Bbuyinggroupis5.4people.B2Cconsumersmayneverdirectlyinteractwithacompanyrepresentative,especiallyonecommercewebsites,whileB2Bconsumerstypicallyinteractwithasalesrepresentativeinthelowerendofthefunnel.NonlinearfunnelsSomeexpertsarguethatthemarketingfunnelisnolongerrelevantbecausethebuyingprocessisnolongerlinear.Leadsarecomingintothefunnelatdifferentstages.Sometimesthishappensbecausetheyarereferredandalreadyknowtheywanttobuyabrand'sproduct,sotheyjumpinattheintentstage.Italsomighthappenbecausetheyhavepursuedtheirowneducationandjumpinatinterestorconsideration.Asaccesstoinformationhasincreasedduetotechnologicaladvances(meaning,theriseoftheinternet),customersareincreasinglydoingtheirownresearchanddependingondigitalcontenttoinformthemaboutproducts.Infact,CEBreportsthatB2Bcustomersaretraversing57percentofthefunnelontheirown,beforeencounteringasalesrep.OnealternativetothemarketingfunnelisMcKinsey'sconsumerdecisionjourney,whichemploysacircularmodeltoshowhowthebuyingprocessfuelsitselfandtohighlightpivotsortouchpoints.SourceHowever,someexpertsalsodoubtthisapproach."Brandsmayputthedecisionatthecenterofthejourney,butcustomersdon't,"writeMarkBonchekandCaraFranceinaHarvardBusinessReviewarticle.Therestillisn'taperfectmodel,soboththecustomerdecisionjourneyandthemarketingfunnelwillcontinuetobeusedbymarketers,andarethereforestillrelevant.Marketingvs.Sales:OwningthefunnelThereisaheateddebatehappeninginthemarketingandsalesworldsoverwhoexactlyownsthefunnel.Onesidearguesthatasconsumershavebecomemoredependentondigitalcontenttoinformtheirpurchasingdecisions,marketershavetakenonmoreresponsibilityforthefunnel,astheycontinuetonurtureprospectsthroughthepurchasingprocess.Takealookatthediagrambelowtoseehowmarketingandsalesownershipofthefunnelhaschanged.However,thereareevensomewhoseethefunnelasbeingsplitvertically,withbothsalesandmarketingowningthefullfunnel.Theyarguethatthesalespeopleareincreasinglybecomingthoughtleaderstodriveawarenessbydoingoutboundoutreach.Inthisscenario,bothmarketingandsaleswouldworktonurtureleadsandprospectsfromawarenesstopurchase.Flippingthefunnel:MarketingandthecustomerexperienceAnincreasinglycommonpracticeformarketing,sales,andcustomerserviceandexperiencemanagersisto"flipthefunnel"intoacustomerexperiencefunnel.Thisfunneloutlinestheprocessofturningcustomersintoadvocates,whichinturnrefuelsthetopofthemarketingfunnelbydrivingawarenessandleadgeneration.Here'sourdiagramofthecustomerexperiencefunnel:ThecustomerexperiencefunnelexplainedWe'vedistilledthemostimportantstagesofthecustomerexperiencefunnelandexplainedthembelow.Repeat:Afteracustomerhasmadeapurchase,thenextstepistomakethemarepeatcustomer.Thismeansimprovingretentionandnurturingcustomerstomakemoreandbiggerpurchases.Marketerscontinuebottomoffunnelactivitiestoencouragerepeatactionsbytheconsumer.Loyalty:Intheloyaltystage,customersdevelopapreferenceforabrand,beginningtoidentifywithitandpersonalizeproducts.Thisiswhereengagementiskey,andmarketerscanhelpnurturethispersonalconnectiontoabrandthroughcommunitydevelopment,engagement,andoutreach.Referral:Onceacustomerisloyaltoabrand,theyaremorelikelytoprovidebusinessreferralsandrecommendbrandproducts.Advocacy:Turningyourcustomersintoadvocatesistheultimateevolutionfornurturingcurrentcustomers.Evangelismintheformofwritingproductreviews,postingaboutproductsonsocialmedia,andmorecanhelpdrivemorenewleadsforyourmarketingfunnel.Havinganexternalrecommendationnotconnectedtoabrandcanstronglyinfluenceprospects.Marketerscanworktodeveloptheircommunitiestobettersupportadvocates,askthemtoparticipateincasestudies,orengagethemaroundconsumer-generatedcontentonsocialmedia.Theultimategoalsaretoincreasenumberandsizeofpurchasesandtodrivemoreawarenessandreferralstofuelthemarketingfunnel.Formorefreshperspectivesontoday'smarketingtrends,subscribetoourmonthlynewsletter,Content&Context.Featuredimageattribution:YIFEICHENonUnsplash.AuthorSkywordStaffRelatedPostsCreatingPersonalizedExperiencesUsingZero-PartyData:4BrandSuccessStoriesThursday,May12,2022MarketingWhatBuyersWantfromBrandExperiencesFriday,May6,2022ContentCreationMarketers:It’sTimetoLookatTheGreatResignationasaGreatRevolutionThursday,December30,2021ContentCreationhttps://www.skyword.com/contentstandard/how-the-marketing-funnel-works-from-top-to-bottom/https://www.skyword.com/contentstandard/how-the-marketing-funnel-works-from-top-to-bottom/SkywordStaffSkywordThiswebsiteusescookiestoimproveyourexperience.We'llassumeyou'reokwiththis,butyoucanopt-outifyouwish.SettingsAcceptCookiesPolicyClosePrivacyOverviewThiswebsiteusescookiestoimproveyourexperiencewhileyounavigatethroughthewebsite.Outofthesecookies,thecookiesthatarecategorizedasnecessaryarestoredonyourbrowserastheyareessentialfortheworkingofbasicfunctionalitiesofthewebsite.Wealsousethird-partycookiesthathelpusanalyzeandunderstandhowyouusethiswebsite.Thesecookieswillbestoredinyourbrowseronlywithyourconsent.Youalsohavetheoptiontoopt-outofthesecookies.Butoptingoutofsomeofthesecookiesmayhaveaneffectonyourbrowsingexperience.Necessary NecessaryAlwaysEnabledNecessarycookiesareabsolutelyessentialforthewebsitetofunctionproperly.Thiscategoryonlyincludescookiesthatensuresbasicfunctionalitiesandsecurityfeaturesofthewebsite.Thesecookiesdonotstoreanypersonalinformation.SAVE&ACCEPT×