If you are passionate about marketing, you have surely heard of the term funnel, but do you know what exactly it is?
Funnel marketing is a process by which the path taken by the consumer in the process of purchasing a product or service is described and analyzed. This process can be divided into stages:
- The attention phase (Awareness), in which potential buyers become aware of the existence of the brand, product or service.
- The Interest phase (Interest) in which potential customers show interest by conducting research on the product.
- The desire phase (Desire) in which consumers compare solutions offered by competitors, bringing them closer to a final purchase decision.
- The Action phase (Action), in which the final decision is reached and goods or services are purchased.
You may wonder what the term funnel (in English funnel) has to do with it. Well, the sales process begins by referring to all potential customers in the target market, who may not even know about your product or service. A smaller part may have heard of your product or company. An even smaller part of that group may want to learn more, and an even smaller part of that group may actually contact you. As the process goes on, you interact with fewer people who are more interested, until you end up with people who become customers. Drawing a graph of the process just described, this will have the shape of a funnel, or indeed funnel.
The funnel consists mainly of three stages: ToFu, MoFu, BoFu.
- The ToFu (top-of-funnel) focuses on a high volume of people reached. In this stage usually “softer” communication is used by offering information that addresses a need, question, or problem the consumer may have. This phase may also include lead generation tactics to attract potential customers and convince them to leave their contact information.
- The MoFu (middle-of-funnel) is where the company positions itself as the best solution to the consumer’s needs. This point can include lead nurturing actions that include targeted offers and content, such as free product demos or testimonials from satisfied customers.
- Finally, the BoFu (bottom-of-funnel) is the sales phase. This is a crucial stage; it is crucial that once the sale is made, the consumer is not abandoned, but pampered so that he or she buys other products or recommends the company to others. This is precisely why we tend to offer customer discounts, discount codes, bring a friend discounts, etc. at this stage.
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