Digital marketing is essential in eCommerce. If you want your brand to last long, you must equip yourself with all the strategies you need, like understanding modern media. Using advanced technology, you must have a broad knowledge of what’s happening inside and outside your business. Mastering how to read your customer’s buying behavior must also be among your top priority.
There are tons of marketing strategies you can use to grab more attention. One of those is through a firm digital marketing funnel. Haven’t you heard of it? Well, you just happen to be in the right place. In this blog, we prepared everything you need to know about what is a digital marketing funnel, its importance, and some of the best digital marketing funnel tips to inspire you.
What is a Digital Marketing Funnel?
A digital marketing funnel can be defined as a planned model representation of a buying journey. It is a type of strategic framework made by businesses to gain more website traffic that eventually will turn into purchases. When companies develop a digital marketing funnel, they are also helping their marketing professionals to understand what their target market wants. Having the ability to create a digital marketing funnel is an instant advantage for any business whose main goal is to capture more attention and establish a firm connection with an audience.
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What is the importance of Digital Marketing Funnel?
Still having second thoughts on what is a digital marketing funnel? Don’t worry. We’re here to help you understand why mastering how to develop a digital marketing funnel is one bright idea. Below are the top two reasons we’ve listed to help you understand the importance of learning how to create a digital marketing funnel and use it to help you reach your goals faster.
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1. Helps you understand your audience better
If there is one best reason you need to develop a digital marketing funnel, it helps you get to know your audience deeper. Understanding your market is essential, especially if you seek to establish a stronger connection with your audience. There are tons of businesses that can offer them what you can offer. To prevent this from happening, it is crucial to take action and create a digital marketing funnel that will make them stick to you. Let them know and feel that you can give them what they want. Develop a digital marketing funnel that does not only aim to gain money, but most of all, speak to your audience’s hearts.
2. Creates a unique appeal towards your market
Having your own established identity is a must in the world of business. If you want to succeed, you must have your name that rings in anyone who hears them. One importance of the digital marketing funnel is that it helps you have your unique appeal to your target market. If you are having trouble in making competitive content, learning how to develop a digital marketing funnel is one holy grail. A reliable digital marketing funnel gives you the power to create masterpiece content that will grab the attention you want. It helps you give potential customers an improved user experience and turn them into a paying customer.
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Types of Digital Marketing Funnel
There are three known types of digital marketing funnel. To help you understand what is a digital marketing funnel, we’ve already listed them down for you. Take a closer look at these types of digital marketing funnel, and in no time, crafting your own will just be a piece of cake.
1. Hourglass Marketing Funnel
This type of digital marketing funnel takes on its name—an hourglass-shaped digital marketing funnel. This type of digital marketing funnel is considered the most popular one.
There are four stages included in this type of digital marketing funnel:
- Awareness
- Engagement
- Conversion
- Retention
Hourglass digital marketing funnel believes that the Awareness stage serves as the “attraction” stage for customers. The engagement and Conversion stage then follows, wherein potential customers are turned into qualified buyers. And then lastly, the Retention stage, where a solid client-based relationship is being nurtured.
2. Looping Marketing Funnel
Looping digital marketing funnel, also known as the “loyalty loop”, is a type of digital marketing funnel that pays more attention to customer retention and advocacy. Its main belief is that it is easier and cheaper for businesses to keep their existing customers than to get new ones. This type of digital marketing funnel revolves on five cycles:
- Awareness
- Consideration
- Purchase
- Loyalty
- Advocacy
3. Micro-moments Marketing Funnel
This last type of digital marketing funnel focuses on the power found in even the most minor things. Many entrepreneurs have this stereotypical thinking that to create a digital marketing funnel that will work out, being grand is a must which isn’t really a thing. In reality, it takes a few seconds for a potential customer to figure out if he will continue transacting with you.
There are four known “moments” included in this type of digital marketing funnel:
- I-want-to-know moments – moments when a potential buyer only wants to find an answer to his problem but is not yet ready to make a purchase
- I-want-to-go moments – happens when a potential customer is looking on top businesses for a possible solution to his problem or a product he wants to purchase
- I-want-to-do moments – moments when a potential buyer is finding information on how to do something accurately or how to reach his goal
- I-want-to-buy moments – happen when a potential customer is already at the peak of making the purchase but still needs one last push to do it.
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How to create a Digital Marketing Funnel
Now that you’ve understood what is a digital marketing funnel and its importance, it's now the time to learn how to create one. Got zero clue how to start? We in Strikingly will make it easier for you. Below are the six basic steps that can help you create the best digital marketing funnel for your business.
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1. Exposure
The initial step in making an effective digital marketing funnel is through generating brand awareness. To start attracting website visitors to your website, you must let them know of your existence first. This part is the “top” layer of your digital marketing funnel because it is also the most significant part. Why? This is because the initial step of creating a digital marketing funnel is to gather as much audience as possible before narrowing them down as you go down the funnel. To effectively raise brand awareness for your digital marketing funnel, you can formulate a strategic marketing plan. Always remember to design a program that speaks directly to your target audience.
You can effectively do this by using pay-per-click ads, creating social media posts, email and video marketing, hosting webinars and podcasts, and even networking events.
2. Discovery
Once you’re done raising brand awareness towards your target market, and it becomes successful, it is now the time for the second stage of your digital marketing funnel journey—discovery. When your business gained that attention from your market and made its way to your business website, it is now your chance to show them what you’ve got. Showcase what makes your brand different from your competitors. Make them understand why it is worth trying to work with you. Understand their pain points and figure out the best ways to help them find solutions to their problems.
You can effectively do this digital marketing funnel stage by making targeted ad campaigns like social media ads and Google ads. You can also try display advertising, multi-platform marketing, making blogs, and even hosting webinars.
3. Consideration
Customers tend to look for other options before making their purchase. Even though they are already aware of your existence, they still tend to have second thoughts if you are truly worth it. This third stage of the digital marketing funnel is known as the Consideration stage. To ensure an outcome of the best digital marketing funnel, make content that showcases why you are more deserving than your competitors. You can showcase your past performance results and even some of your previous client’s feedback. Make your prospect see that you stand out. The main goals of this digital marketing funnel stage are to make yourself understand them better than your competitors, provide better solutions, and get positive results.
The best ways to succeed this are through client case studies, getting positive customer feedback on social media platforms, video testimonials, best reviews, sales letters, and even interviews you had on publications.
4. Conversion
The fourth step of creating the best digital marketing funnel is called the Conversion stage. It involves content making, which strengthens your formulated lead generation strategy. This means making landing pages for your website, creating sales letters, and building lead magnets that will help you convert your business website traffic into more leads.
Some content marketing examples achieve this bottom part of your digital marketing funnel by using product/service guides, making downloadable templates, and upgrading content. Also consider offering free consultations, adding contact forms, posting video sales letters, adding live chat bots feature, and using phone numbers with a call tracking feature.
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5. Customer Relationship
Converting traffic into leads doesn’t end your digital marketing funnel journey. Once you’ve succeeded in closing a deal or purchase between a customer, it is now time for you to fulfill your duties as a professional business owner. Don’t just aim for one successful transaction but instead create ways to solidify your connection towards that customer. Nurture your relationship with them by humbly asking them for feedback and reviews. You can even give them some valued information that they can use at zero cost. Once your customers feel you care about them, the chance of repeat transactions with you becomes higher. They may even help spread the word about your brand.
Some of the best examples for this step are sharing your product tutorials with your clients, giving 24/7 customer support, sending regular newsletters, making blogs, doing customer surveys, checking in calls, and giving special offers to loyal clients.
6. Retention
The last stage of creating the best digital marketing funnel is the Retention stage. Statistics have proven that acquiring new customers for your business is way more expensive than retaining existing ones. Retention is one crucial aspect of maintaining a harmonious digital marketing funnel. When a lead turns into a successful purchase, you should always back it up with a marketing strategy that involves brand loyalty. You can offer them subscription updates and even discounts. Give people more reasons to come back to you no matter what. This final step of your digital marketing funnel plays a vital role in keeping your customers happy, which can also lead to them being your partners.
Some examples of this digital marketing funnel stage are cross-selling, hosting retargeting campaigns, and email marketing.
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Once you understand how a digital marketing funnel works, it will be easier for you to deal with competitors. With tons of businesses emerging now, it is only a must for you to equip yourself with the right resources. Understanding what is a digital marketing funnel gives you more chances of earning money, and most importantly, strengthens your business-customer relationship.
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