Building a winning digital marketing funnel strategy requires taking one step back and gaining a clearer view of your funnel. This article will cover the best practices for crafting a great marketing funnel strategy, from implementing market research to the tools needed to make your strategy actionable.
Without a streamlined funnel strategy in place, brands may not understand fully customer’s needs and create messaging that appeals to their target audience. By the end of this blog brands will have a good grasp of the research methods that are in use today to ease customers through their funnel.
How you can Benefit From a Key Marketing Funnel Strategy
A marketing funnel is a series of steps or processes that businesses put in place to break down the customer journey. It begins when customers learn more about the brand until persuaded to make a purchase.
Marketing funnels have changed over recent years, although its basic concept is unchanged. It still starts with brands doing their best to create awareness and working diligently to ease the customers towards the end of the funnel.
Researching the market
Market research is the most crucial stage when building a marketing funnel strategy. So, unless brands have an excellent understanding of the market that they are in, they cannot build interesting offers that will get prospects to act.
Benefits of market research
Researching will allow brands to identify their ideal customers. Therefore, understanding this information will allow more brands to implement trigger pain points in the customer journey, which will encourage them to take action. Brands who have a good understanding of their customers can preempt their needs and create sales funnels that address important customer questions.
Using market research data, brands can put together a better content messaging strategy. Despite this, if the definition of an ideal customer is too broad, the message will not even resonate. With a customer profile in place, brands can create consistent marketing messages that will attract ideal consumers.
Which Market Research Methods Will Benefit Your Company?
Finding out who the ideal customers are requires a combination of primary research and existing customer information. Therefore, for startup brands that do not have an existing customer yet, they can rely heavily on research to validate their assumptions.
Spy on competitors
Competitor research will help brands emulate positive practices from successful businesses. It is also the best way to outperform competitors.
Discover the competitor’s traffic sources
All sales funnels start with traffic generation. In fact, marketers could argue that traffic is the most crucial part of a successful ecommerce marketing funnel strategy. Although, if the right traffic cannot see them, it will not matter if the brand is using a targeted sales page. Therefore, check where competitors attract traffic. Brands can also dig deeper into the competition’s lead generation strategies.
Possible tools brands can consider are SimilarWeb, SpyFu, and Competitors App.
Learn from their social media strategy
If social media is a vast source of leads for the competition, brands should take the time to review their strategy. For example, some of the best tools used to spy on the competitor’s social media presence are Social Mention and Hootsuite. Consider looking at the competitor’s posts and ads on various platforms. What are they doing which generates interests from audiences?
Analyse their paid ads
SEMRush is a powerful software that will allow brands to get insights about the competition’s paid ads tactics. For instance, this tool can help brands understand the competitor’s ad strategy, keyword management, cross-group negative optimisation, and more.
Enter the competitor’s sales funnel
Understanding your competitor’s sales funnel is an excellent way to gain insights into their business strategy. So, start by going into their website and noting all their lead magnets. Download any lead magnets or offers and sign up for their newsletter. This process will help brands understand the competitor’s content strategy and tactics that they used to sell.
Learn how to bring traffic to the site
Paid vs unpaid traffic
Unpaid traffic is free of any advertising cost. While this type of traffic may bring a steady number of visitors, it takes time to build up and requires a huge amount of work. Brands who do not have enough patience to wait for this type of traffic can use paid traffic.
One way to bring in a wider pool of qualified traffic is to use lead magnets. This can be exclusive content, discounts, free shipping, free trials, or access to an online tool. The brand’s choice of lead magnets should relate to whatever it is offering.
Lead nurturing is a crucial factor that can deeply change how a prospect moves into the marketing funnel. According to the B2B Marketing Benchmark Report of 2012, by Marketing Sherpa, “73% of leads are not even ready to buy when they enter a marketing funnel.” Properly applying lead nurturing strategies is an important step in improving customer relations.
Breaking down the Buyer Persona
Creating a buyer persona is a huge part of any marketing funnel strategy. Before a brand can design an ad or even draft the first piece of content, they need to know who their customers are. So, a comprehensive buyer persona will help clearly define who the target customer is.
A buyer persona is a detailed description of the brand’s target customer. It is a document which lists all important information from demographic facts to hobbies.
Knowing who the buyers are is a critical step to achieve success, so with a detailed buyer persona, brands have a clearly defined target customer. Therefore, it helps set the roadmap for the entire sales process. Buyer personas can help brands know what sources should attract initial leads towards the top of the funnel.
The information included in a buyer persona:
- Gender balance
- Income range
- Age range
- Things that they want to accomplish
- Areas where they want to improve
- Things that are preventing them from reaching their goals
- Possible reasons and concerns about the product or service
- Blogs/publications that they read
- Social media platforms that they use
- Groups that they are a part of
Where to find information for creating buyer personas
To collect information about the brand buyer personas, use several methods.
For brands with existing audiences, a survey is an amazing way to flesh out buyer personas. The following survey tools will make this process easier: Survey Legend, Survey Method, My Survey Lab and Survey Monkey.
Try secondary research
Companies, nonprofit organisations and governments regularly use research that is available for a small fee or free. Brands can also check out opinion polls, census data and industry reports that will provide insights on the buyer persona. Consider checking out these websites for free market research: Think with Google and Statista.
This kind of research will require brands to have some basic information about their audience. However, media audit is beneficial for improving an existing buyer persona. To accomplish this kind of market research, consider looking into what the target audience is sharing on social media or reading online.
For example, look into places online where people share or discuss their opinions. Consider Facebook groups, forums or Reddit, but look at the most discussed topics to see what the customers are interested in or concerned about.
3 Amazing Marketing Funnel Tech Landscape Tools You Need
There are several tech tools available that can help brands create a marketing funnel strategy. For example, using this software will allow businesses to streamline their marketing funnel.
Landing Page Builders
While businesses can create landing pages on website builders like WordPress or Wix, a dedicated landing page builder will offer more flexibility. Page builders also offer additional features that will help improve conversion.
- A/B testing–allows brands to see variations of their landing pages, therefore seeing which performs best. Consistently testing is a great way to see if landing pages are working the way it should work.
- Optimised themes–Landing pages platforms include many templates to choose from. It is not only made to attract leads, but also to help improve conversion.
- Integration ready–The most typical goal of a landing page is to collect leads. To allow a seamless collection of information, they make landing page builders integration ready. For example, it allows brands to connect with various email marketing tools like AWeber, MailChimp and ActiveCampaign.
Clickfunnel is a software that allows brands to manage the entire sales funnel. It is a tool that allows multiple funnel templates and systems for almost any kind of service or product. Some of the few features that Clickfunnels allow are:
- Brands can follow up with existing and potential customers through a variety of methods like email, desktop notifications, text, Facebook messenger, and more.
- It allows brands to take new customers through a multistep process. This increases the customer lifetime value, as well as increases the size of orders from every customer.
- Prepare product launch campaigns, as well as webinar promotions.
- Create membership platforms.
- Prepare network marketing funnel.
One of the best advantages of using platforms like WordPress to build a sales funnel is its affordability. There are dozens of affordable plugins that businesses can use to simplify all the tasks of a sales funnel within the website itself. Therefore, with the right plugins already in place, WordPress offers flexibility for creating and designing capture pages for the sales funnel.