Are you ready for the future of marketing? It’s coming faster than you think, and it looks a lot different than it did in 2002.
What is the marketing funnel?
The marketing funnel is the process that companies use to turn potential customers into paying customers. It’s a way of thinking about the customer journey, from the moment they first hear about your company to the moment they make a purchase.
What is the traditional marketing funnel?
The traditional marketing funnel is a linear model that follows a simple path:
Awareness: The customer becomes aware of the company and its product or service.
Interest: The customer is interested in what the company offers and begins to learn more about it.
Consideration: The customer is considering making a purchase and compares the company’s products or services to those of its competitors.
Purchase: The customer makes a purchase.
The customer starts at the top of the funnel, where they are aware of your company and your product. Next, they move down the funnel as they learn more about your product and how it can solve their problem. Eventually, they reach the bottom of the funnel, where they make a purchase.
What’s wrong with the traditional marketing funnel?
There are a few problems with the traditional marketing funnel:
1. It’s too simplistic. The customer journey is not a straight line from awareness to purchase. Many other factors, such as customer service and post-purchase behavior, come into play.
2. It’s out of date. The traditional marketing funnel was developed before the internet, social media, and mobile devices. It doesn’t consider the complex ways that customers interact with companies today.
3. It’s focused on the wrong things. The traditional marketing funnel is about getting customers to buy your product or service. But the customer journey is about so much more than that. It’s about building a relationship with the customer that lasts long after purchasing.
What is the new marketing funnel?
The new marketing funnel is a customer-centric model that focuses on the entire customer journey, from awareness to purchase.
What’s different about the new marketing funnel?
1. It’s more complex. The new marketing funnel considers all of the different touchpoints that a customer has with a company, including social media, customer service, and post-purchase behavior.
2. It’s more customer-focused. The new marketing funnel is all about building a relationship with the customer and providing them with a great experience from start to finish.
3. It’s more holistic. The new marketing funnel takes into account the entire ecosystem that a customer is interacting with, including your company’s website, mobile app, and physical store.
What are the benefits of the new marketing funnel?
1. It’s more effective. The new marketing funnel is a more accurate representation of the customer journey, and it’s better equipped to drive sales and loyalty.
2. It’s more efficient. The new marketing funnel allows you to focus your resources on the most critical touchpoints in the customer journey.
3. It’s more customer-centric. The new marketing funnel provides a great experience for the customer, from start to finish.
The New Marketing Funnel
1. Awareness: The customer becomes aware of the company and its product or service.
2. Research: The customer learns more about the company and its products or services.
3. Evaluation: The customer compares its products or services to those of its competitors.
4. Purchase: The customer makes a purchase.
5. Retention: The customer remains a loyal customer.
6. Referral: The customer recommends the company to others.
7. Advocacy: The customer becomes an advocate for the company.
The new marketing funnel is more complex than the traditional funnel, and it takes into account all of the different touchpoints that a customer has with a company.
Here are a few things you’ll need to do to ensure your marketing funnel is ready for the future:
Make sure your website is responsive and mobile-friendly. Your website is one of the most critical touchpoints in the customer journey, so optimizing it for all devices is important. A responsive website will automatically adjust to fit any device’s screen size, and a mobile-friendly website will be designed specifically for mobile devices.
Increase your use of video content. Video is a powerful tool that can help you engage with your audience and communicate your message more effectively. In addition, video is an excellent way to build trust and credibility with potential customers. When it comes to creating video content, there are a few things you’ll need to keep in mind:
- You’ll want to ensure that your videos are high quality and informative.
- You’ll want to ensure that your videos are appropriately optimized for search engines.
- You’ll want to make sure that your videos are accessible to as many people as possible.
Invest in AI and chatbot technology. There are a few reasons why companies should invest in AI and chatbot technology:
- AI and chatbots can help you automate repetitive tasks, such as customer service or marketing tasks. This can free up your employees to focus on more important tasks.
- AI and chatbots can help you gather data about your customers, which can be used to improve your marketing and sales strategies.
- AI and chatbots can help you improve the customer experience by providing a more personalized experience.
When investing in AI and chatbot technology, there are a few things you’ll want to keep in mind:
- You’ll want to make sure you choose a suitable technology for your business. There are various AI and chatbot technologies available, so it’s important to do your research and select the one that will best meet your needs.
- You’ll want to make sure that you have the resources to implement and use the technology properly.
- You’ll want to make sure that you have a plan in place for using the data you collect.
Implement personalization at every stage of the customer journey. Personalization is tailoring your marketing and sales efforts to each customer’s specific needs. Personalization can be used to improve the customer experience, increase conversion rates, and build loyalty.
There are a few ways that personalization can improve the customer experience:
- Personalization can be used to create a more personalized customer journey. By understanding each customer’s specific needs, you can create a tailored journey for them.
- Personalization can provide a more personalized experience throughout the customer journey.
- Personalization can be used to build loyalty by showing your customers that you understand their needs and are willing to go the extra mile to meet them.
Use data-driven marketing and advertising strategies. Data-driven marketing is a strategic approach to marketing that uses data to inform decisions and guide actions. Data-driven marketing is based on the idea that you can more effectively target your marketing and advertising efforts by understanding your customer base.
There are a few ways that data-driven marketing can help you improve your marketing and advertising strategies:
- Data-driven marketing can help you segment your customer base and target your marketing and advertising efforts more effectively.
- Data-driven marketing can help you understand what kind of content your customers are interested in and how they prefer to consume it.
- Data-driven marketing can help you track the results of your marketing and advertising campaigns and make adjustments accordingly.
Pay attention to data privacy concerns. Data privacy concerns are any concerns that customers may have about how their data is being used. For example, data privacy concerns can include whether or not their data is being sold to third parties, how their information is being used to target them with marketing and advertising, and whether or not their data is being used to track their behavior.
Addressing data privacy concerns can help you improve your marketing and advertising strategies in the following ways: First, addressing data privacy concerns can help you build trust with your customers. If customers feel like their data is being handled responsibly, they will trust your brand. Secondly, addressing data privacy concerns can help you avoid potential regulatory problems. And lastly, addressing data privacy concerns can help you improve your customer relationships.
Focus on creating a seamless omnichannel experience. An omnichannel experience is an integrated customer experience that spans multiple channels. Omnichannel experiences give customers a consistent and cohesive experience regardless of their track.
There are a few benefits of creating a seamless omnichannel experience:
- It can help you build loyalty with your customers. If customers have a positive experience with your brand across all channels, they are more likely to be loyal to your brand.
- It can help you increase conversion rates.
- It can help you improve customer retention.
By keeping your marketing funnel up-to-date, you’ll stay ahead of the competition and keep your business growing for years to come.
The marketing funnel has changed a lot in recent years, thanks to the rise of digital marketing and the customer’s increasing demand for transparency. However, if you’re still using the same marketing funnel you used in 2002, you’re missing out on many potential customers.
Here’s what you need to know about the updated marketing funnel for 2022 and beyond:
1. The Awareness Stage is now
2. The funnel is no longer a linear process
3. There are more touchpoints with the customer today
4. Marketing must be more agile and responsive
5. Customer retention is more important than ever
6. Automation will play a more significant role in marketing operations
7. Marketing must be data-driven to make decisions
There are many benefits to using the new marketing funnel, including its effectiveness, efficiency, and customer-centric focus. However, it’s important to note that the new marketing funnel is not a silver bullet. It’s just one tool in your marketing arsenal. Use it in conjunction with other tools, such as market research and customer surveys, to get the most out of it.