In marketing, a funnel is often used as a visual metaphor to describe the journey that a potential customer takes on their way to becoming a paying customer. A funnel allows you to track and measure the progress of potential customers as they move from awareness of your products or services to actual purchase.
The goal of a marketing funnel strategy is to generate more leads at the top of the funnel, and consistently convert those leads into paying customers. A well-designed marketing funnel strategy is a powerful tool for any business that is looking to grow its customer base.
How The Marketing Funnel Works From Top To Bottom
A marketing funnel is a series of stages, with each stage representing a different part of the customer’s journey. Those stages are typically referred to as the top of funnel, middle of funnel, and bottom of funnel.
The top of funnel represents the moment when someone first becomes aware of your product or service and starts to develop an interest in it. They then move down to the middle of funnel where they learn more about what you have to offer and how it can benefit them. Eventually, they reach the bottom of funnel, where they take action and make a purchase.
Of course, not every customer will make it all the way through the funnel; some will drop off at various stages. However, by creating a marketing funnel strategy for your specific business, you can attract more of your ideal customers and more easily move them all the way through your funnel into becoming paying customers or clients.
What Is A Full Funnel Strategy?
Marketing funnels are often used in conjunction with other marketing strategies to maximize reach and engagement. However, you want to make sure you have a full funnel strategy.
For example, sometimes businesses have a really great lead magnet that attracts leads into the top of their funnel, but they’re lacking on the follow up strategy required within the funnel to convert those leads into customers. Or maybe they have great follow-up, but aren’t able to keep a consistent flow of leads coming into the funnel.
A full funnel strategy outlines a specific marketing plan for each of the three stages within the funnel, so that each stage is doing its job to attract potential customers and move them to the next step in the buying process.
Marketing Tactics By Funnel Stage
To give you a better idea of what we’re talking about, we’re going to share a few examples of effective marketing strategies that can be used for each stage of the funnel.
Top Of The Funnel Marketing Strategy
A top of funnel marketing strategy is designed to generate awareness and interest in your product or service. The goal is to reach potential customers at the beginning of their journey. This stage of marketing is less focused on conversion than what we’ll talk about in later steps. Instead, the goal is to build brand awareness and consideration in what you have to offer. A few common top of funnel marketing tactics include:
Unlike other marketing strategies that focus on selling products or services, the goal of content marketing is to build brand awareness and relationships with potential and current customers by providing them with informative and engaging content.
This can be in the form of social media posts, blog posts, infographics, videos, or podcasts. By offering quality content that addresses the needs and concerns of your target audience, you can build trust and credibility with potential customers, making them more likely to do business with you.
Social Media Marketing
One of the best ways to market your top of funnel content is through social media. By distributing your content across the platforms that your target audience spends the most time on, you can effectively and inexpensively reach a large audience of potential customers.
Search Engine Optimization (SEO) is the process of optimizing a website for Google’s search algorithm. It is a solid marketing strategy for any business because it helps to increase visibility and traffic. By targeting the right keywords and implementing SEO strategies, you can ensure that your website appears at the top of the search results for relevant queries.
SEO can also be incorporated into social media content by using relevant keywords in post captions and in video text.
A lead magnet is a piece of content that is offered in exchange for an individual’s contact information, usually an email address. Lead magnets should always be something of value for a specific target audience such as a helpful pdf, a guide, template, etc. This is a really great way to grow your potential customer email list so that you can continue to follow up with them.
Mid Funnel Marketing Tactics
The middle of funnel is the stage in the buyer’s journey where prospects are aware of their problem and are considering potential solutions. At this stage, they are evaluating different options and vendors to find the best fit for their needs.
This part of your strategy should be based around educating prospects on your solution and building trust so that they choose your product or service over your competitors. Some examples of middle of funnel marketing tactics include:
Create dedicated landing pages with highly targeted content that speaks directly to your prospect’s needs and pain points.
Webinars are a great way to appeal to potential customers who are in the middle of the sales funnel. Webinars can be pre-recorded and turned into evergreen content. These webinars should be utilized to inform and showcase your expertise and establish your brand as a trusted resource. Before recording a webinar, it is important to consider what topics will be most relevant and helpful to your target audience.
Case studies provide potential customers with a detailed look at how your product or service has been used to solve a problem. Case studies act as social proof, which is one of the most convincing forms of marketing.
Depending on what your product or service is, you may be able to provide a free trial or a sample – or even a money-back guarantee. Giving away something for free may not always be a viable option for your specific business, but it is one way to build a much higher level of trust.
Bottom Of Funnel Marketing Strategy
The bottom of the funnel is the final stage in the buyer’s journey, when a prospect is ready to purchase a product or service. Bottom of funnel marketing strategies are designed to drive conversion and sales by nurturing prospects through the final stages of the decision-making process. Common bottom of funnel marketing tactics include:
It’s not uncommon for leads to make it all the way to the bottom of funnel and still have some lingering objections or concerns that need to be addressed before they are ready to make a purchase.
As such, you need to be prepared to handle these objections. The first step is to identify the most common objections that prospects have when considering your product or service – from questions about price or quality to concerns about the product itself.
Once the objections have been identified, you can create content that addresses these concerns directly. This can be in the form of a video or even just a simple FAQ page. By addressing objections head-on, you can show potential customers that they can feel confident in choosing your product or service.
Email marketing should be used to nurture leads and build relationships with potential customers throughout the buyer’s journey. In the bottom of funnel stage, email marketing can be used to send special offers, coupons, or other incentives that encourage customers to buy.
Retargeting is a marketing strategy that involves targeting ads to consumers who have already shown an interest in your product or service. In the bottom of funnel marketing strategy, retargeting can be used to convert potential customers into paying customers.
For example, if someone visits your website and shows interest in a particular product but doesn’t purchase it, you can retarget them with ads for this same product. The goal of retargeting is to remind potential customers of the product and encourage them to make a purchase. Retargeting can be an effective marketing strategy, but it should be used in combination with the other marketing techniques above to create a comprehensive bottom of funnel marketing strategy.
Need help developing a marketing funnel strategy for your business?
The Alchemy Consulting Group has the necessary experience and expertise to design an effective marketing funnel strategy for your business. We take the time to understand your unique products and services, as well as your target market. This allows us to create a customized approach that will maximize your chances of success.
We are constantly evaluating and testing new marketing techniques to ensure that our clients are always ahead of the curve. With Alchemy, you can be confident that you are getting the best possible advice and guidance when it comes to marketing your company. Contact us today to learn more about how we can help you grow your business – call us at 877-978-2110 or schedule a call at: https://calendly.com/gordonvanwechel/15min