Simply put, it is the customer’s marketing journey from discovering what you offer to buying and becoming a loyal customer.
The above funnel is generic, and most people need to use it to create their own custom funnel. So, let’s say you are a local cleaning company. You post daily on local Facebook groups. You also have a website.
From the group, someone checks your posts and clicks on the website link inside the post. Now that they are directed to your website, they check your services and contact you through the contact form. You call them and give them a quote. They accept the quote, and you schedule the service for next week. On the day, your employee goes and renders the service and collects the payment. They also schedule another cleaning service for next month. So, how would your funnel look?
As you can see, I added two new stages to our new funnel vs the original generic funnel. Funnels are just guidelines; we need to customize them to fit our needs. At every stage, we lose customers.
Let’s say we have 100 people who saw the offer. But only 20 people clicked it, and of those, only 10 visited your website and filled out the form. You quoted all 10, but only eight people bought and became customers.
You can do the quick calculations and find out what your conversion percentage is from one stage to another.
If you have everything in place and are correctly collecting the data, the funnel will talk to you. It’s Magical. Let me explain, let us assume we have 100% conversion from awareness to consideration. You have a few problems: 1. You are probably underpriced. 2. You don’t have enough awareness. 3. You have maxed out your market.
Another example: If you have an issue between the Consideration and conversion part of the funnel. You might need to troubleshoot and run tests to identify what can be improved to fix the problem.
This all falls into your marketing strategy, and a funnel will not work correctly if you have not done your segmentation. Why, you ask? Think if your customers are divided into two segments, for example, homeowners and business owners, the funnel will be different for both the segments. So, before we do Funnel we need to do the Segmentation before doing a marketing funnel.
Amaninder Singh
