Marketing Funnel | proeze

What is a Marketing Funnel? How does it work?

Marketing Funnel | proeze

What is marketing funnel?

The funnel is a series of steps that a visitor takes before they can make a purchase. The Marketing Funnel is a process that lets you anticipate the purchaser’s journey or the path a prospect takes as they become acquainted with your business, from introduction to conversion (closing the sale/deal).

  • Awareness
  • Interest
  • Consideration
  • Intent
  • Evaluation
  • Purchase

Awareness

The first step in the marketing funnel begins with awareness. It’s at this point the prospect becomes aware of your product or services. It is important to establish a digital presence, cultivating familiarity with your product, so that customers who are most likely to purchase your goods are aware of your availability in the market.

Interest

In order to get to the stage of interest, prospects must prove that they are interested in purchasing our product or service. This can happen in a survey, during a product review, or when the prospect clicks on your online ads and expresses their interest.

This is an opportunity for advertisers to make a compelling argument as to why their product is the right choice for a buyer.

Consideration

Consideration is an important stage of the buyer’s journey. At this step, the potential customer is familiar with your product or services and is evaluating the problem, its urgency, how it can be solved, and whether it really needs to be solved here and now alternatively, he is comparing your product or service with your competitor.

Your aim is to show them all the ways in which their problem can be solved, how useful it is to them, and how you and your product can help.

Intent

In order to get to the stage of intent, prospects must prove that they are interested in purchasing our product or services, and this can happen once the product or service demo is completed.

This is an opportunity for the sellers to make a compelling argument as to why their product is the right option for the consumer.

Evaluation

 At the evaluation stage, consumers are making a final decision, whether or not to purchase the goods or services from our company.

Usually, the marketing and sales team work closely together to help the decision-making process and persuade the customer that the product of their brand is the right choice.

Purchase

This is the last stage in the marketing Funnel, where a prospect has made a decision to purchase your product or services and become a client. This is where the purchasing process takes place and the contract is signed.

Quality experience on the part of the consumer side may lead to referrals that fuel the top of the marketing funnel, and the process will start again.

Why are Funnels Beneficial?

Funnels are beneficial for the following reasons;

  • We can know who is aware of our product or services.
  • We can know who is interested in our product or services.
  • We can know who has the intent to buy our product or services.
  • We can also know how the customer feels about our product or services.

How a Marketing Funnel Works in E-commerce Site?

A marketing funnel has a series of steps as to how it works in E-Commerce sites. They are;

  1. Customer visits your website.
  2. Customer searches for a product/visits a product page.
  3. Customer adds the item to the cart.
  4. Customer does the checkout process.
  5. Customer clicks finish and buys the product.

Post-sale process/Retention

  • There is a great deal of focus on the Awareness, Consideration, Intent, Evaluation, Purchase phases of the marketing funnel. But the process does not end here. After these phases come the important one – The Retention phase.
  • However, companies focused on long-term relationships, and profits should work on this stage precisely.
  • Don’t get caught up in the process of acquiring the new clients, by missing out the quality service to the existing one. Acquiring new clients is an important sales process but remember here we are discussing the post-sales process.
  • The long-term benefit of maintaining your core customers is very much important when being compared to attracting a new one. We all know that it’s simpler and cheaper to sell our goods to a current customer than to get a new one.

Maintain a Constant Relationship through E-mails/calls

Email correspondence is one of the easiest and most effective ways to keep in close touch with your top clients. Given the focus on other digital and social media formats, email remains one of the most valuable tools for business repeaters.

Offer Best-in-Class Support and Service

Your task of delivering quality solutions does not stop at the point of sale. Customer satisfaction and retention only occurs when the customer feels valued during the implementation process. Sometimes, you have to provide support your clients in areas that are not relevant to your core. This is where the customer feels satisfied and makes a referral to partner companies and the chain goes on. This is the stage where you can create more ROI.

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Types of digital marketing channels – How to use them?

digital marketing

Digital Marketing is an effective way of producing positive business outcomes. However, to get there, we need to understand – what the strategy is all about, how it works and the digital marketing channel types that can be used. If you want to increase your traffic, attract more customers, raise awareness of the brand, engage teams or audiences, then it is essential to understand each type of digital marketing.

We created this guide to help you get more information on this subject. Here you’ll see each of digital marketing’s most effective types, their benefits and objectives, along with when and how to use each.

Popular Digital Marketing Channels

Before you can actually begin to identify the best digital marketing tools – firstly, you need to learn and familiarise yourself with the different channels available.

1. Email Marketing Channels

As any company conducts lead generation and other marketing campaigns, they collect contact information from potential clients, such as telephone numbers and Business email addresses, including permissions to give them updates and  other information via email. Email marketing is one of the most efficient digital marketing channels capable of delivering up to 4,300% of business and ROI in the US.

Most companies with digital in-house marketers use email marketing, ranking this method as outstanding for generating ROI by up to 66 per cent. That’s why up to 56 per cent of businesses have highlighted that they plan to increase marketing activities related to email by 2014. Types of emails sent include brand create emails, conversion emails and newsletters.

2. Pay-Per-Click Advertising (PPC)

Pay-per-click advertisement networks produce highly targeted traffic to potential customers within a very short period of time. However, this approach is mainly depends on how much you are willing to spend in bidding and placing ad placements, as well as, how much you are willing to pay to acquire one customer.

However, your advertising budget remains under your power, allowing you to decide how much you need to spend on your PPC ads for a day, a week or a month. The success of PPC advertising depends on how well you select your keywords to reach potential clients and to incorporate visual and contextual details in your advertisements.

3. Search Engine Optimization (SEO)

Nearly all internet users are familiar and use search engines to search for anything they want to know or what they are looking for. Users use search engines to search for brand, product or service details, and up to 59 per cent of search engine users each month find a local business to meet a specific need. SEO includes many activities such as keyword analysis, using both on-page and off-page optimization, creating linkable properties, developing organic links, and other related activities.

4. Display Advertising Channels

Many people visit blogs, forums and other websites that are interesting to them or that are useful. Through inserting appropriate display ads on these third party pages, digital marketers may reach out to these potential customers. Those include banners, frames, interactive advertising, video ads, interstitial ads, overlays, and other advertisements similar to a website or landing page.

Display advertising sensitizes the brand and generates highly targeted traffic that can be converted into a lead or sale. Payments for these display ads are usually based on Cost-Per-Impression (CPM), which is usually more cost-effective in comparison with the PPC – typical Cost-Per-Click (CPC) scheme.

5. Social Media Marketing (SMM)

Social networking is certainly one of the most amazing items in the digital world that company owners and digital marketers’ channels can use to create brand awareness of their goods and services. Online marketers can reach out to highly targeted potential consumers directly and can also have person-to-person interaction through Social Media Marketing (SMM).

The number of users of social media continues to increase every day. Businesses and digital marketers tend to ride the bandwagon and this year they expect to increase their SMM budgets by more than 50 per cent. Nonetheless, digital marketers should choose the most appropriate social network for promoting their company’s products and services to their target audience.

Facebook – You can virtually reach  every user. As you just need to understand their interests using groups and pages your targeted customer regularly visits on Facebook.

Twitter – If you’re trying to develop a new business and want to reach out to early adopters, then Twitter might be for you, especially in quick brand awareness-raising.

LinkedIn – LinkedIn would be the perfect social network for you to reach out to professionals, business owners and other business-to-business (B2B) leads and targeted clients.

Pinterest – When you are focused on visuals to advertise your brands and goods, this social network is perfect. Also, the majority of users are women, so if they are your audience, then SMM would be perfect for your business on Pinterest.

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Facebook Ads vs. Google AdWords

Facebook Ads vs. Google AdWords: Which Service Should I Use?

Facebook Ads vs. Google AdWords

Facebook Ads and Google Ads are the 2 top pay-per-click advertising platforms. Google Ads has certain specific target keywords that have to appear as the top leads to Google searches, whereas the Facebook Ads display in social feeds and are targeted using demographic and behavioural information. Each platform is employed to try to anything from building brand awareness to drive sales.

How Facebook Ads Work?

Facebook, a social media and networking platform with 2.3 billion users worldwide, offers businesses the flexibility to advertise with pay-per-click (PPC) ads. These ads are created using the Facebook Ad Manager platform. They are shown a targeted audience defined by user behaviour, interests, demographics, and Facebook engagements. As a part of the ad creation process, businesses select an advertisement budget, ad placement, and ad run time.

Facebook’s audience targeting is what really sets it aside from Google Ads. Since Facebook users aren’t on social media actively trying to find a product or service, the platform encourages conversions by giving advertisers comprehensive targeting options—including factors like age, gender, income, and interests—that align closely with ad content. This is what makes Facebook marketing and Facebook advertising effective, despite the audience lacking an equivalent level of intent as Google Ads.

An actual ad creation within Facebook is comparatively easy. As already mentioned, advertisements are built using the user-friendly Facebook Ads Manager. In order to create ads, click the “Create” button on your account dashboard, then choose your ad format, select your audience, edit ad settings, and make ad copy and pictures. Get step-by-step instructions on the way to create a Facebook ad.

When you have carefully crafted and expertly set the target in Facebook ads, it can capture latent user interest that both increases brand awareness and generates sales. It’s important to notice, that it’s going to take longer to convert Facebook results to customers as they’re not actively seeking your product or service.

How Google Ads Work?

Google is primarily referred to as a search engine that provides businesses the flexibility to advertise on its network with pay-per-click ads. Google Ads appear at the highest of search results pages within the same format as organic search results; they seem based upon the keywords searched by the user and the way those keywords align with ad content. To make a Google Ad, advertisers must check in for a Google Ads account, then add text-only ad copy and keyword targeting information.

Audience intent is what sets Google Ads aside from Facebook Ads. With Google, users are actively checking out a selected product or service, or the solution to a selected question. If you’ll provide the precise information they’re trying to find, then they’re more likely to get your product or service or engage together with your brand. Unlike Facebook Ads, keywords and search terms are primarily used to form Google Ads.

Ads are inbuilt in the Google Ad Manager interface, which is usually considered not very easy to use. Still, advertisers can quickly build a text-based ad by creating Campaigns, Ad Sets, and individual Ads with a headline and an outline. Get step-by-step details on the way to advertise on Google.

Businesses that sell uncomplicated goods or services with simple use cases benefit most from Google Ads; search keywords are easy to find, and consumers are encouraged to click and buy using simple, actionable language. More complex campaigns — such as those for brand recognition, multi-stage interaction, or complicated products — will probably not go for Google as well.

Facebook Ads vs Google Ads: Which to use and when?

Facebook Advertising and Google Ads are perfect for various business goals. Facebook Advertising is usually the best to create brand awareness of goods or services that people are likely to like, but do not actually need, such as a new high-tech espresso machine. Nevertheless, Google Ads are ideally suited for increasing the sales of goods or services that people need and are actively looking for, such as an electrician.

When to Use Facebook Ads?

Facebook Ads are the best for businesses seeking to extend awareness of their products or brands—especially among audiences which will not have heard of them before. With comprehensive targeting options for the audience, Facebook allows marketers to introduce themselves to their audience easily and concisely through text, picture, and compelling video advertising.

When to Use Google Ads?

Google Ads are the best for businesses with a product or service that users know they have and are actively checking out. These ads primarily target users within the buying phase, so ad copy that’s concise, unambiguous, and highlights the clear advantages of a product/service are going to be the foremost successful.

Which costs more: Google Ads or Facebook Ads?

In general, Google Ads have a better cost per click (CPC) than Facebook Ads; an average of $2.69 and $1.72, respectively. Get details on the average ad costs by industry for Facebook Ads and Google Ads.

Is Google Ads better than Facebook Ads?

Google Ads provide businesses with an efficient way of reaching customers through search. The effectiveness of ads will vary because it depends greatly on the campaign strategy, ad content, and targeting. Find out how to make and launch effective Google Ads.

Are Google Ads worth it?

Google Ads are worthwhile for several businesses because it is usually considered an effective sort of advertising. This is because advertisers only pay when a user interacts with their ad. This makes Google Ads worthwhile, even for those with above average CPCs.

Bottom Line: Facebook Ads vs Google Ads

All Facebook Ads and Google Ads are pay-per-click advertisement systems where marketers pay for any click, they get for their ad. Similarly, Facebook Ads may be a paid social ad platform and Google Ads may be a paid ad search platform. Each offers businesses a chance to extend brand awareness and increase sales, but the ultimate ROI depends on your company’s target, ad spend, and artistic ad elements.

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