What is a marketing funnel?
A marketing funnel is a visual representation of the journey a potential customer takes from being aware of a brand to becoming a loyal customer. The funnel represents the stages of the buying process and helps businesses to understand and optimize their marketing efforts to move potential customers through the funnel toward a purchase.
A marketing funnel is important for businesses because it helps them to focus their marketing efforts on the right customers at the right time. By understanding the customer journey, businesses can tailor their messaging and tactics to the specific needs and interests of potential customers at each stage of the funnel. This can help businesses to attract and retain more customers and increase their revenue over time.
The traditional marketing funnel model typically consists of five or more stages, such as awareness, interest, consideration, intent, evaluation, and purchase. However, some models include even more stages, such as discovery, appraisal, confirmation, and conversion.
In contrast, our new model focuses on simplifying the marketing funnel to just four stages: awareness, consideration, decision, and advocacy. This streamlined approach allows for a more straightforward and efficient marketing strategy.
Why use a slightly different approach?
The traditional marketing funnel model, while widely used, may not be the best fit for all businesses. It primarily focuses on the buyer journey and relies heavily on inbound marketing tactics. However, businesses may have different needs and goals that require a more personalized approach.
A personalized approach to marketing allows businesses to tailor their strategies and tactics to their specific target audience, which can lead to better engagement and conversions. It also allows for the integration of different marketing channels, such as advertising, to reach a wider audience and achieve better results.
As Google Ads specialists, we have noticed that the traditional marketing funnel model may not always incorporate the use of different advertising strategies that can be effective for businesses.
At House of Brands Media, we have developed a new approach to the marketing funnel that we believe can better serve the needs of businesses in the modern online landscape. Our new model is called the Brand Building Funnel, and it builds upon the traditional buyer journey by incorporating marketing automation processes, inbound marketing tactics, and advertising strategies.
Our new model streamlines the traditional buyer journey, reducing it from six or seven stages to just four key stages: Awareness, Consideration, Decision, and Advocacy. We have added the Advocacy stage to the traditional funnel, which we believe is critical for building a strong brand in today’s online marketing environment.
As Google Ads specialist, we have seen firsthand how advertising can be a powerful tool for building brand awareness and driving conversions. By incorporating advertising tactics into our new model, we can help businesses reach their target audience more effectively and maximize their ROI. In addition, our Brand Building Funnel takes a more personalized approach to marketing by using marketing automation processes to deliver targeted messages to individual customers at the right time. This helps to create a more seamless and personalized customer experience, which can lead to higher customer satisfaction and loyalty.
In summary, our new approach to the marketing funnel offers a more streamlined and personalized solution that incorporates a range of effective marketing tactics, including advertising, inbound marketing, and marketing automation. By utilizing our Brand Building Funnel, businesses can better engage with their target audience, build a strong brand, and ultimately drive conversions and revenue.
The four stages of our model
The Brand Building Funnel consists of four key stages: Awareness, Consideration, Decision, and Advocacy. Each stage represents a different phase in the buyer journey and is designed to help businesses attract, engage, and convert potential customers into loyal customers.
The first stage, Awareness, is about building brand awareness and attracting potential customers to your business. The second stage, Consideration, involves nurturing those potential customers and guiding them toward making a purchase decision. In the Decision stage, customers are ready to make a purchase and need the right incentive to convert. Finally, in the Advocacy stage, businesses aim to turn their satisfied customers into loyal brand advocates who will help promote their products or services.
Awareness tactics may include social media advertising, content marketing, and influencer marketing to reach a wider audience. In the Consideration stage, businesses may use email marketing, retargeting ads, and personalized landing pages to build trust and establish a relationship with potential customers. The Decision stage may involve limited-time offers, product demos, or free trials to incentivize customers to make a purchase. In the Advocacy stage, businesses can encourage customers to leave reviews, share their experiences on social media, or participate in referral programs to help build brand loyalty and drive new business.
How to use the model
The model is an intuitive matrix that is read from left to right and top to bottom. It helps businesses to optimize their marketing strategies and increase conversion rates. By understanding the customer journey, businesses can personalize their marketing approach and reach the right audience with the right message at the right time. The model consists of several layers that cover different aspects of the marketing funnel, including the buyer journey, automated sales processes, inbound marketing tactics, advertising tactics, lead generation, retargeting, and advocacy.
On the top horizontal layer, we see the different processes: Buyer journey, automation process, Inbound marketing tactics and advertising tactics. While the depth of each layer varies, you can easily read from left to right to find the appropriate automation processes, inbound- and advertising tactics for each stage of the buyer journey.
This model also includes two additional stages: retargeting and advocacy.
Retargeting occurs when a lead is sales-ready but does not convert. In this case, we restart the funnel for the consideration stage as this lead already knows about your brand, so we can skip the awareness phase.
Advocacy is the process of turning a happy customer into a brand ambassador. It involves nurturing and engaging with your customers so that they keep coming back and actively promoting your brand to others.
Advocacy and Omni-Presence
Advocacy is a critical component of the brand building funnel. It is the process of turning a satisfied customer into an enthusiastic ambassador for your brand. When your customers become your advocates, they help to promote your brand and spread the word about your products or services to their family, friends, and colleagues. This, in turn, can lead to increased brand awareness, loyalty, and ultimately, sales.
To create advocacy for your brand, it is essential to provide exceptional customer experiences throughout the buyer journey. This means that you must provide quality products or services, personalized customer service, and helpful content that answers your customer’s questions and solves their problems. By doing so, you build trust with your customers, which is the foundation of advocacy.
An omni-presence strategy is also crucial to creating advocacy for your brand. This strategy involves having a presence across multiple channels and touchpoints, such as social media, email, content marketing, and advertising. By having a consistent and cohesive presence across all of these channels, you create a strong brand identity and increase your chances of being top-of-mind with your customers.
When you are top-of-mind with your customers, you increase the likelihood that they will become advocates for your brand. This is because they are more likely to remember you and recommend you to others when they are in need of your products or services.
An omni-presence strategy can also help you stay ahead of your competition. By being present in multiple channels, you increase your visibility and give yourself a competitive edge. This is especially true in today’s digital age, where consumers have more choices than ever before.
In summary, advocacy and an omni-presence strategy are crucial components of the brand building funnel. By creating exceptional customer experiences, building trust, and being present across multiple channels, you increase your chances of creating advocates for your brand and staying ahead of your competition.
In conclusion, the “Brand Building Marketing Funnel” article by House of Brands Media provides a valuable guide to building a brand. It is well-structured, consistent with the sources used, and can be further improved by incorporating more specific details and statistics from the sources. The article serves as a useful resource for marketers looking to build a strong brand and attract more customers.
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