What is My Marketing Funnel?
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Well, marketing and advertising have been an essential part of any business growth.
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Today I am focusing on,
- What is the Marketing Funnel?
- Or What is Business Funnel?
- How Marketing Funnel Works or Utilised?
- Why is it Important?
As it sounds marketing funnel is used for filtering out the potential buyers into different stages as per the marketing status, consumers behavior, needs, supply, price and so on…
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Marketing funnels are of different types as per the products, objectives of marketings, targeted market, time, 4Ps of Marketings as well as total 7Ps of Marketings.
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Ideally, I am gonna explain y marketing funnel which I mostly consider a productive one for me till now.
In my Marketing funnel, potential customers filter through the 6 major stages.
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Which are,
1) ATTENTION: Area of attention and objective to grab attention with powerful content. Lots of display advertisements happening around the audiences. It becomes necessary to get the attention for taking potential customers next into the funnel.
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For eg: When I got a glance or heard words of IOS & Android in one phone. This made serious attention inside me to know more about it.
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2) AWARENESS: After achieving the attention we can introduce our product’s USP & KSP. Whether customers purchase or not but at some marketing level even attention set as the objective of the campaign.
For eg: Oppo majorly focuses on its awareness for its new launches products series.
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3) CONSIDERATION: Here We find that out of 100% awareness. we find some of them tends to consider our services. Consideration may take place as eager to know more about a particular brand or services. It helps advertisers to analyze how much awareness has been productive with attention-grabbing content.
For eg: People asking for more information about advertised products, People trying Free test drives, Online changes in the keywords searches, replying the emails, and so on.
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4) CONVERSION: Conversion is the place where the visitors get converted into a customer. After considering the brand/services/products, he/she finally enroll for purchase. Since it’s not the only place where only sales considered as conversions.
In Online digital advertisements, Sign-Ups, Contact form registrations, Lead generations, subscribing the channels or newsletter also stands as conversions.
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5) LOYALTY: It is mostly considered as after-sales activities, But sometimes not.
Sometimes customers take time to make the decisions for purchasing the services. Still, we can feel the loyalty emotions in potential customers.
Loyalty majorly covers for the customers who tried your services ie Existing customers and they had made a strong decision to stick with your brand forever. they are not going to try any other brand instead.
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For eg: Most iPhone users are loyal to the iPhone series. They love to have the latest series of iPhones.
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eg2: Most of Sharuk Khan’s fans follow his movies releases more eagerly than other star’s movies.
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6) ADVOCACY: It is considered the most valuable slot in the Marketing Funnel. It is the slot where consumers feel confident to refer your brand name to their friends, relatives, office circle and so on.
Remember: Marketing funnel differs from channel to channel, need to need, situation, time, targeted market and so on…
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There a lot more to share regarding this topic.
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