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In this article, we will discuss the concept of a local business marketing funnel and how it can be used to drive sales and grow your online business. A marketing funnel is a framework that businesses use to turn leads into customers. It represents the customer’s journey from learning about your brand to ultimately making a purchase. By developing a marketing funnel, you can better understand your customers and create a marketing strategy that effectively targets them.
What is a marketing funnel?
A marketing funnel is a step-by-step process that guides potential customers through various stages, from initial awareness to final conversion. Each stage of the funnel requires different marketing messages and tactics in order to engage potential customers and convince them to make a purchase. The main stages of a marketing funnel typically include awareness, consideration, and conversion.
The awareness stage is the first stage of the marketing funnel. It is where potential customers first learn about your product or service. They may be aware of a specific problem or pain point and are in the early stages of researching possible solutions. At this stage, your goal is to create brand awareness and capture the attention of your target audience. Some examples of awareness marketing tactics include:
- Informational blog posts
- Social media posts and ads
- Sponsored content and influencers
- Press mentions and features
The consideration stage is where potential customers have narrowed down their choices and are considering which solution is best for them. They may be comparing your product or service to competitors or deciding between different options within your brand. In this stage, your goal is to educate the customer on why your solution is the best fit for their needs. Some examples of consideration marketing tactics include:
- Case studies
- Buying guides
- Original research
- Comparison content
- Testimonials and reviews
- Product demos
The conversion stage is the final stage of the marketing funnel. At this point, potential customers have made the decision to purchase and are ready to take action. Your goal in this stage is to make it as easy as possible for them to convert. You want to present your product or service in a compelling way that inspires them to make a purchase. Some examples of conversion marketing tactics include:
- Signing up for a free trial
- Scheduling a consultation
- Making a first purchase
- Using a new customer promo code
- Signing up for a subscription
- Becoming a repeat customer
Loyalty and advocacy stages
In addition to the traditional three-stage marketing funnel, some businesses also include loyalty and advocacy stages. The loyalty stage focuses on keeping customers engaged and encouraging repeat purchases. This can be done through customer rewards programs or special offers for existing customers. The advocacy stage focuses on turning your best customers into brand advocates who will recommend your business to others. This can be done through referrals or affiliate programs.
How the marketing funnel works
The marketing funnel works by guiding potential customers through each stage of the funnel, from awareness to conversion. The goal is to move customers through the funnel and ultimately convert them into paying customers. Here’s a simplified example of how a marketing funnel might work:
- Awareness: A potential customer discovers your brand through a blog post or social media post.
- Consideration: The potential customer explores your website and reads product reviews or comparison content.
- Conversion: The potential customer is convinced to make a purchase and completes the checkout process.
To effectively use a marketing funnel, businesses need to map out all the touchpoints where customers may find them and convert. This includes identifying relevant channels and tactics for each stage of the funnel. By connecting each tactic and ensuring they work together, businesses can shorten the time between awareness and conversion.
Marketing funnel examples
To provide real-life examples of how marketing funnels work, let’s look at how two Teachable creators leverage marketing funnels to sell their courses and digital products.
Example 1: Melyssa Griffin
Melyssa Griffin is a course creator and entrepreneur who teaches courses on email list building. She utilizes the marketing funnel to drive sales and engagement for her courses. Here’s how she does it:
- Awareness: Melyssa creates blog content around email marketing and entrepreneur topics to raise awareness. She also repurposes this content for social media platforms like Pinterest.
- Consideration: Melyssa offers quizzes, customer success stories, and free workshops to educate potential customers and provide value. She also has landing pages that clearly state the benefits of her courses and make it easy for visitors to convert.
- Conversion: Melyssa entices leads to purchase her courses through email marketing and offers product upsells to existing customers.
Example 2: Teela Cunningham
Teela Cunningham is a digital artist and lettering expert who teaches courses on digital art and lettering. She effectively uses the marketing funnel to attract and convert potential customers. Here’s how she does it:
- Awareness: Teela raises awareness through search engine optimization (SEO) and social media platforms like Instagram, Pinterest, and YouTube. She shares tutorials and design resources to engage her audience.
- Consideration: Teela offers a community and email list called the “Tuesday Tribe” to nurture leads and provide exclusive discounts and resources. She also offers free and paid courses, with free tutorials often leading to sales of her digital products.
- Conversion: Teela uses email marketing to nurture leads and generate more sales. She also utilizes her existing customer base for advocacy, encouraging them to refer her courses to their networks.
How to measure success: Marketing funnel metrics
To determine the effectiveness of your marketing funnel, you need to measure key metrics at each stage of the funnel. Here are some metrics to consider:
- Attract: Measure metrics like sessions, bounce rate, and time on site to assess the effectiveness of your awareness tactics.
- Convert: Measure metrics like visitor-to-lead conversion rate, number of leads, and email open and click rates to track lead generation and nurture.
- Close: Measure metrics like total revenue, new customers or signups, customer lifetime value, and conversion rate to evaluate your conversion tactics.
By analyzing these metrics, you can identify areas of improvement and allocate your resources effectively to maximize your funnel’s conversion rate.
A local business marketing funnel is a crucial tool for driving sales and growing your online business. By understanding the stages of the funnel and implementing effective marketing tactics, you can guide potential customers through the customer journey and convert them into paying customers. Remember to measure and analyze your funnel’s performance to continually optimize your strategy. With a well-executed marketing funnel, you can effectively target your audience, increase brand awareness, and drive conversions.