Marketing Funnel
Transcript: Marketing Funnel Nare Abrahamyan Hasmik Arevyan Shams Hayrapetyan Eliza Ohanyan Marketing Funnel Awareness Interest Intro The marketing funnel is a critical component of any successful marketing strategy. It describes the journey that potential customers take as they move from initial awareness of a product or service to becoming a loyal customer. In this presentation, we will explore the key stages of the marketing funnel and provide strategies and examples for how businesses can effectively target customers at each stage. Conversion Understanding the Funnel The marketing funnel is comprised of five stages: Awareness, Interest, Consideration, Conversion, and Loyalty. At the awareness stage, customers are becoming familiar with a product or service. At the interest stage, they are actively seeking out more information. At the consideration stage, they are evaluating their options and deciding whether to make a purchase. At the conversion stage, they make a purchase, and at the loyalty stage, they become repeat customers and advocates for the brand. The Funnel Awareness Creating awareness is the first step in the marketing funnel. There are a variety of strategies that businesses can use to create awareness, such as social media advertising, influencer marketing, and content marketing. For example, a business could create an engaging social media ad that highlights the benefits of its product or service, or it could partner with an influential blogger or YouTuber to promote the product. Providing valuable content, such as blog posts or videos, can also help to create awareness and build trust with potential customers. Interest Once awareness has been established, businesses need to focus on generating interest in their product or service. This can be done by providing valuable content, offering free trials or demos, and hosting webinars or events. For example, a software company could offer a free trial of its product to potential customers or host a webinar that highlights the features and benefits of the product. By providing value and engaging with potential customers, businesses can generate interest and build a relationship with their audience. After generating interest, businesses need to focus on nurturing consideration. This means providing detailed product information, offering personalized recommendations, and using retargeting ads to remind potential customers of the product. For example, an e-commerce business could provide detailed product descriptions, reviews, and photos to help potential customers make an informed decision. It could also use retargeting ads to remind customers of products they viewed but didn't purchase, encouraging them to come back and make a purchase. Consideration Encouraging conversion is the next step in the marketing funnel. This means providing incentives to potential customers to encourage them to make a purchase. Strategies for encouraging conversion include offering discounts or incentives, providing a seamless checkout process, and using social proof, such as customer reviews or testimonials. For example, an e-commerce business could offer a limited-time discount to customers who abandon their shopping cart, or it could use social proof to showcase positive reviews from satisfied customers. Conversion Building loyalty is the final stage of the marketing funnel. This means providing exceptional customer service, providing exclusive offers to repeat customers, and using email marketing to stay in touch with customers. For example, a business could offer a loyalty program that rewards customers for repeat purchases or provide exclusive discounts to its email subscribers. By building a strong relationship with its customers, a business can turn them into loyal advocates for the brand. Loyalty Conclusion | Key points Conclusion The marketing funnel is a crucial tool for businesses looking to attract and retain customers. Effective strategies can be implemented at each stage of the funnel to create awareness, generate interest, nurture consideration, encourage conversion, and build loyalty. Challenges and pitfalls in implementing a marketing funnel can be overcome with awareness and strategic planning Thank You !!