Hi everyone! I wish you all a berry good evening and I hope you’ll enjoy our new blog post. The Strawberry-in-chief wanted me to tell you a thing or two about funnels. Ahh, a funnel. Everybody has one in their house. You know, it’s one of those cone-like things through which you pour juice into a bottle… no, wait. Oh, you mean a marketing funnel? No problem, I know those also like the back of my hand. Sit back and listen, because we put the fun in funnel!
So what is a marketing funnel?
The journey a potential customer takes from learning about your brand existing to actually completing a purchase is visually represented by a marketing funnel. If you can visualise a funnel, it gets narrower and narrower as it’s coming to its end. The same goes for consumers who metaphorically speaking, enter your funnel.
You may have thousands of consumers entering your funnel and by entering we mean becoming aware of your brand. In the end, the majority of them will fall out or decide to leave the funnel at different stages so only a small portion will actually do the conversion, i.e. complete a purchase.
One of the classic terms connected with funnels is AIDA. No, not the opera. AIDA marketing funnel is an acronym of the terms: Awareness, Interest, Decision, Action. Each of these terms represents a stage in the life of a Purchase funnel. Of course, as technology has progressed, so has marketing and the same goes with funnels. Many experts deem the AIDA model to be too general and lacking that digital aspect that is everything nowadays. Still, it is only a model and a good one to begin with.
AIDA marketing funnel is a great example of a purchase funnel, also known as a buying funnel. Its goal is to make you
1. Aware of the existence of the brand
2. Interest you to learn more about it
3. make a Desire to be a part of it, and in the end
4. to Act, or in other words to make a purchase
This is all good, hypothetically speaking, but in 2021 it lacks some crucial stages. Your goal isn’t just to make a sale, but to create a satisfied and happy customer which in return creates brand loyalty and sets you up for the future. There isn’t just one right marketing funnel, and it’s a tricky business that changes a lot, but a modern conversion funnel consists of an additional stage at the end of a funnel such as loyalty, or retargeting, retention, or whatever you like to call it. It is the phase where customer relationships are created. The first two stages, Awareness and Interest go hand in hand and shouldn’t be seen as two different processes.
But my time is almost up and I must run, as beauty sleep is very important for a young Strawberry like me. But do not despair, stay with us, as in my next blog post I will be sharing my secrets on how to create the ultimate conversion funnel in 2021.
See ya next week! XOXO, the Strawb