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Marketing Funnel Strategy: Why It’s Important for Sellers and How to Create a Winning Strategy
In today’s highly competitive business landscape, it’s not enough for sellers to simply rely on traditional advertising methods to attract customers. With the rise of e-commerce and the abundance of information available to consumers, sellers must adapt their marketing strategies to engage with customers across various channels and stages of the buyer’s journey. One effective approach is implementing a full-funnel advertising strategy. In this article, we will explore why full-funnel advertising is crucial for sellers and provide a step-by-step guide on how to create a winning full-funnel advertising strategy.
I. The Importance of Full-Funnel Advertising for Sellers:
- Reaching Customers at Every Stage of the Buyer’s Journey:
- Customers today have access to abundant information and use multiple sources to research products before making a purchase. To effectively reach these customers, sellers need to engage with them at every stage of the buyer’s journey – from awareness to consideration to conversion.
- By implementing a full-funnel advertising strategy, sellers can tailor their marketing messages to the specific stage of the customer journey, building better brand experiences and nurturing relationships with potential customers in the long term.
- Increased Sales and Conversions:
- According to Amazon, sellers using a full-funnel advertising strategy see an average of 21% more sales compared to those who use only one type of ad. This multifold increase in sales is a direct result of engaging customers at different stages of the buyer’s journey.
- Full-funnel advertising strategies also lead to increased conversion rates. By targeting customers with specific messages based on their position in the buyer’s journey, sellers can provide relevant information and incentives to guide them towards making a purchase.
- Enhanced Brand Consideration and Loyalty:
- A full-funnel advertising strategy allows sellers to create a “habit loop” by repeatedly exposing potential customers to their brand’s messaging. This repetition helps increase brand awareness, consideration, and ultimately, loyalty.
- By consistently engaging customers with tailored ads and messages, sellers can establish a strong brand presence in customers’ minds, leading to repeat purchases and long-term loyalty.
- Maximum Exposure and Reach:
- Amazon, with its vast customer base and multiple touchpoints, provides a perfect platform for implementing a full-funnel advertising strategy. By utilizing various Amazon ad formats (such as Sponsored Products, Sponsored Brands, and Sponsored Display ads) and external advertising channels like Amazon DSP (Demand-Side Platform) and OTT (Over-the-top) advertising, sellers can reach customers wherever they are in their customer journey.
- Amazon DSP and OTT advertising, in combination with Amazon’s native ad formats, allow sellers to scale their brand reach across multiple channels, including video, audio, and streaming platforms, maximizing their exposure to potential customers.
II. Creating a Winning Full-Funnel Advertising Strategy for Amazon Sellers:
To effectively implement a full-funnel advertising strategy on Amazon, sellers can follow these steps:
- Ensure Retail-Ready Product Listings:
- Before diving into advertising, sellers should ensure that their product listings are retail-ready and optimized for conversions. This includes having an optimized title, compelling product images, persuasive product descriptions, and sufficient reviews and ratings.
- Following Amazon’s guidelines for creating retail-ready product listings will help sellers stand out from the competition and capture customers’ attention.
- Map Keywords to Each Stage of the Buyer’s Journey:
- Identifying the keywords that shoppers are using to find their product is crucial for targeting customers at different stages of the buyer’s journey. Sellers can conduct keyword research using tools like Amazon’s Auto Campaign Suggested Keywords or third-party keyword research tools.
- Once the relevant keywords are identified, sellers can map them to the different stages of the buyer’s journey. Broad or generic keywords can be used for awareness stage targeting to increase impressions, while more specific keywords can be used for consideration and conversion stage targeting to drive sales.
- Create a Buyer’s Persona:
- To ensure that advertising efforts are focused on the right audience, sellers should create a buyer’s persona. This involves understanding the demographics, interests, and buying behaviors of their target customers.
- Tools like Amazon Brand Analytics and third-party customer research tools can provide valuable insights for creating accurate buyer personas. These insights can then be used to create targeted ad content and imagery that appeals to the specific preferences of the target audience.
- Implement a Bottom-of-the-Funnel Strategy:
- The bottom-of-the-funnel strategy focuses on driving conversions and sales. Sellers can use remarketing tactics, such as retargeting customers who have viewed their product but haven’t made a purchase, to convert potential customers into buyers.
- Sponsored Display ads and the Amazon Advertising API can be utilized to implement remarketing strategies effectively, reminding customers of their previous interest in the product and encouraging them to make a purchase.
- Develop a Consideration Stage Strategy:
- In the consideration stage, customers are actively seeking information and comparing different products. Sellers should target relevant categories, competitor’s listings, and complimentary listings using Sponsored Display ads to persuade customers to evaluate their products.
- Sponsored Product ads can also be used to showcase the advertised product on competitor’s listings, further increasing brand consideration and chances of conversion.
- Build Brand Awareness:
- Brand awareness is crucial for long-term success and repeat purchases. Sellers can run Sponsored Brand Video ads on broad keywords related to their products to drive traffic to their Amazon storefronts.
- Amazon DSP and OTT advertising can also be utilized to reach in-market audiences and expand brand exposure across various channels, including video, audio, and streaming platforms. These channels offer retargeting capabilities like behavioral targeting, lifestyle targeting, audience lookalike targeting, and contextual targeting, enabling sellers to reach their target audience effectively.
Implementing a full-funnel advertising strategy is essential for sellers to reach customers at every stage of the buyer’s journey, increase sales and conversions, enhance brand consideration and loyalty, and maximize brand exposure. By following the steps outlined in this article, sellers can create a winning full-funnel advertising strategy on Amazon, ultimately driving business growth and success.