A marketing funnel is what?
A marketing funnel is a representation of the steps consumers take from learning about a product or service to making a purchase.
In essence, it demonstrates how leads are converted into consumers from a marketing standpoint. Typically, marketing funnels are constructed around the following five phases of the consumer buying process:
- Awareness
- Interest
- Consideration
- Intent
- Purchase
Some funnels go a step further and take into account client advocacy and loyalty after the sale.
The marketing funnel “provides an easy visual of the complex efforts your teams engage in to convert customers, from social media and SEO to paid ads and email campaigns.”
Companies can utilize marketing funnels as helpful road maps to direct their marketing initiatives. These roadmaps may take into account marketing efforts made through organic, paid, and earned channels, depending on the organization and its tactics. The marketing funnel offers a simple depiction of the intricate efforts your teams make to convert clients, from social media and SEO to paid advertisements and email campaigns.
What does the term “funnel” in marketing refer to?
Think of a funnel that you might employ to transfer liquids from one location to another. It widens at the top and gets smaller near the bottom. The marketing funnel is similar in that it begins with broader efforts at the top, where marketing is directed toward a larger audience (also known as the Top of Funnel, or ToFu), then narrows to a smaller part during Middle of Funnel efforts (MoFu), and eventually focuses on serious buyers at the Bottom of Funnel (BoFu).
“Marketing funnels depict a straight line leading to a purchase, but keep in mind that people don’t always think logically or linearly,”
ToFu: Knowledge and enthusiasm. At this point, your objective should be to spread the word about your brand, products, and services. Your marketing efforts might be concentrated more on social media, blog posts, newsletters, and content that is easy to distribute, such as infographics, podcasts, and videos.
MoFu: Considering/wanting. Potential buyers are aware of your brand and may be interested in your items at this point, but they are still deciding whether or not to make a purchase. They could require more direct communication about certain features and advantages associated with your items. Here, you should use educational materials, gated assets, webinars, drip email campaigns, and other more focused communications to better educate your audience.
BoFu: Purchase with intent. At this point, your potential clients are ready to buy and just need to make a choice. Your marketing efforts in this instance are speaking to a much smaller audience and are probably based on use cases and industries that are pertinent to your potential customers. Through consultations, case studies, demos, client testimonials and reviews, free trials, and other means, you have the opportunity to demonstrate that you can meet the needs of your clients.
Marketing funnels depict a straight line leading to purchase but keep in mind that individuals don’t always think logically and linearly.
Any consumer may take a detour before deciding to finally buy your goods, and some of your leads may become customers after they first learn about your brand through your MoFu or BoFu marketing initiatives. No matter where in the stage you are concentrating your efforts, you should make sure to include crystal-clear CTAs and links to buy so you can capture any intent regardless of where your potential customers encounter your brand.
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