So far you are into the business of marketing, the buyer funnel is a concept you must have come across or applied at one time or the other.
The buyer funnel explains to you what it really takes, step by step, for a prospective customer to make a purchase; a process which is described as the purchasing cycle. It will give you an insight into the way consumers think, enabling you to come up with efficient strategies and convert more sales.
There are three stages of the buyer funnel:
- Top Stage – Problem Awareness
- Middle Stage – Solution Consideration
- Bottom Stage – Product Decision
However, as a marketer you should know this today; the nature of the buyer funnel is shifting. Before now, it used to be clear what distinct roles the marketing and sales team played. The marketing team would concentrate on creating massive awareness and generating leads. Later, when the prospect was ready to know more, the sales team would take over and make sure the deal goes through. But that is no longer the case in today’s marketplace. The internet has made it possible for consumers to go through the sales process all by themselves. Recent research shows that two-thirds of the buyer journey is now completed digitally rather than in-person or over the phone.
Lots of modifications have been made in the way consumers make purchases using smart marketing technology and most marketers are yet to realize how these changes affect the buyer funnel. They are yet to align their marketing strategy with these new behavioral adjustments in each stage of the funnel, hence a setback in their marketing.
What is full-funnel marketing?
Full funnel marketing refers to a situation where businesses create smart marketing strategies that target consumers at each stage of the funnel. At every stage of the funnel, customers need to be approached differently, so it is really necessary to adjust your marketing strategy to suit what the customer wants at each phase. Make sure you consider your messaging, your creative design and any other important thing in between. Also, when choosing your marketing tactics for a campaign, don’t forget to use this strategic approach. Remember, each tactic has a different goal and objective.
How full-funnel marketing works?
These days, almost all the buyer journey happens online, so prospective buyers must be able to see a brand anywhere they interact. In order to maximize the concept of full-funnel marketing, what you need to do first is position yourself in such a way that prospects can find you, and then convince them to visit your website.
Generate prospect interest:
If you successfully convince your prospects to visit your site, what you must do next is to tell them to stick around. In fact, studies indicate that 75 percent of consumers decide if a company is credible just by looking at their website alone. This is why websites must be designed to create a lasting impression. These days, companies create websites to connect new visitors with their stories, passions, values, and ability to help the customer—just within seconds!
Nurture new leads:
Inasmuch as building new leads for your website is important, it is also necessary to ensure that most of these leads are early on in the buyer journey. It could be the initial phase of product research and the buyer may have just recognized their problem. However, you shouldn’t disqualify or ignore these leads. Rather you should nurture them through email marketing, invitation to events and sharing new offers.
Guide the decision-making process:
Prospects usually move through the funnel at their own pace. However, inasmuch as businesses cannot compel prospective buyers to make a purchase, they can assist them with the right information while they make their decision. In fact, a recent Gartner report indicated that information that helps buyers advance through the buying journey is three times more likely to increase the likelihood of a high-value, low-regret deal.