The marketing funnel outlines the fundamental stages of a consumer’s journey: awareness, interest, desire, action, advocacy. Understanding the funnel exists is important for the foundation of your marketing.
- The marketing funnel outlines the fundamental stages of a consumer's journey and is always demonstrated with segmentation. The most traditional funnel follows these stages. At the top is awareness. A prospect has to become aware of two things, their problem and their solution. It's in this stage that your brand is exposed to the prospect, alongside your competition. Below awareness, we have interest. It's at this stage that a consumer begins to explore the products or services available to them.
And next, comes desire, which we can also call consideration. It's here that the prospect wants to make a purchase but it may or may not be with your brand. They're in the final stages of evaluating whether or not to commit. And finally, action. They're either going to buy or they're not. They may select your company, another company or based on their findings, decide they're not making a purchase at all. Now, this is the foundational funnel. We often reference these different segments as top of funnel, middle of funnel and bottom of the funnel.
The top is awareness, the middle evaluation and the bottom, conversion. So, here we have our basic funnel with our four segments. This, on it's own, will serve you well. But there's a wildly respected adaptation to the original funnel and that's to add a fifth segment called loyalty, or advocacy. It's unwise to think that just because the user has completed the sale, their journey is over. After the sale is an incredibly important aspect of the market, so it's important the funnel reflects the notion that a customer can choose whether to purchase again or if they'll recommend your products to others.
So this really makes up the completed marketing funnel. Now as you continue to explore the idea of the funnel, you're going to find plenty of varying opinions on what we call the various stages, whether there's really three or eight, whether you should flip it upside down or even turn it on it's side. But honestly, that's all fine. You can take this concept and adapt it however you like because truthfully, this is really just a tool and no matter how you want to use it or evolve it, these are the basic steps every customer will go through. You can name them whatever you want. The most important thing here is recognizing that this journey exists.
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- Defining growth hacking
- Building growth teams
- Identifying your customers
- Creating OKRs
- Drafting your lean canvas
- Mapping the customer journey
- Managing the product life cycle
- Generating ideas
- Bouncing back from failure
- Identifying growth opportunities
- Retaining users
- Capturing data