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Marketing Funnel: What it is, Why it’s Important and the 4 Stages

The internet gives businesses of all sizes and budgets the ability to connect directly with their audience. But just because businesses have this advantage doesn’t mean that everything falls into place. In order to stand apart from the crowd, reach the right audience and convert visitors into leads, you need a series of effective marketing techniques. 

Having a marketing funnel helps you prioritize, organize and implement your marketing strategies. By following your funnel, you can target the right people in the right moment and nurture them through the buyer lifecycle. After all, most consumers don’t buy things the first time they interact with them.

Let’s learn more about what a marketing funnel is and how you can use it to organize and prioritize your marketing strategies. 

What is a Marketing Funnel? Why is it Important? 

A marketing funnel is a customer-focused model that shows the journey people go on when they buy something. This funnel can be broken down into four sections: Awareness, Engagement, Conversion and Advocacy. These sections are separate but interconnected. As people move through each section, they get closer and closer to converting. 

Marketing funnels are important for several reasons: 

  • Convert prospects into paying customers 
  • Increase revenue 
  • Raise average purchase value
  • Improve web traffic 
  • Get more engagement on social media 

Breaking Down the Stages of a Marketing Funnel 

Each step in the marketing funnel helps move leads further down the funnel. As they do, they become loyal customers and avid fans of your brand. Not only will this help you build an engaged online community, but also it costs far less to retain customers than start fresh

Here are the four stages of the marketing funnel: 

  • Awareness. This is when people start noticing your brand and what you sell. Your goal is to get people interested so that they continue exploring. Social media, blog posts, videos, etc. are great for creating this awareness. 
  • Engagement. Once you have created some engagement for your business, it’s time to build trust with your followers so that you can nurture them further into the funnel. Social media, email lists, surveys, quizzes, etc. will keep your readers engaged. 
  • Conversion. It takes time for customers to convert. Fortunately, they can convert in numerous ways such as through email, your website or Facebook. To capture your audience in the right moment, take advantage of Google Search, display ads and social media ads. 
  • Advocacy. After customers make a purchase, continue nurturing them. This is an important step because it encourages repeat sales, bigger purchases, engagement on social media, word-of-mouth recommendations, positive reviews and more. 

Looking to build a marketing funnel that makes sense for your business? Contact GO Digital WSI to learn more.