How To Build Your Marketing Funnel
A marketing funnel is a marketing term that refers to the idea of using platforms, such as social media or blogging, to get an individual at the top of the funnel (who doesn’t know about your business or is only vaguely familiar with it), to the bottom of the funnel, which is where they will inevitably make their purchase.
One of the huge marketing problems your small business faces is not being able to close the deal. A marketing funnel is specifically designed to change that.
The “Art” Of The Marketing Funnel
As a general rule of thumb, the higher the price point of the item or service, the more consideration and steps that will go into the marketing funnel overall. For instance, if an item is $1,000 then it stands to reason that a potential customer will need more time, and effort to go forward with an eventual sale.
This is why it is important that you are conscious about each step within your marketing funnel and the way that your audience views it. This is the big secret to optimizing your marketing funnel to increase your conversion rates. For instance, your audience may not be as engaged with your social media step as you may want, and if this is the case, then you need to make it a point to investigate why.
The “Math” Behind Your Marketing Funnel
Most individuals may ask, when to pay for marketing – however, the point is not necessarily when or why to pay for it overall, but what steps you need to pay for. In addition, you also need to be aware of what your conversion rates look like, versus what you are paying, for each step in your marketing funnel. This may not necessarily be all monetary, but it is important that you determine the best value with each step.
In doing both of these, your marketing funnel can become formulaic and will begin to work each time you put it into action.