Often when we think of sales and marketing processes we think of the concept of a “funnel.” The basic understanding is that in this funnel, people go through a series of steps which qualify them and commit them more to the product until they finally buy it. Often times there are further steps of ensuring they are happy with it, that they remain customers, and that they would recommend what you have to their friends.
Back in the day, the only ways to reach new customers was through Print, TV and Radio. Then the era of effective cold calling came and went. Nowadays, there are so many ways to reach customers, that it can be overwhelming where you should put your any of your marketing eggs. You could do AdWords, Facebook ads, YouTube, social media, and not to mention the traditional mediums mentioned above are ALSO STILL RELEVANT.
Marketing is less one-size-fits-all than ever right now, and it can be easy to bet on the wrong strategy. That’s why it’s important for you to know what you are doing, or work with people who know what they are doing.
In this article, we will go over the funnel, and what that means and has become to us in the marketing world.
So here we have a funnel. What are the stages of a funnel? How does it work? How do you know where an individual is in your funnel? Great questions. The answer: it depends who you ask. The truth is that there is no superior model, you just have to find what works for you.
A funnel is not a series of steps. You are able to find out likelihood of a prospect becoming a customer based on where they are in your funnel. This is usually expressed as a score of engagement, based on what types of interactions they have had with you and how many. If they willfully called your company and have said that they want to buy your product, you should have got them then and there, but if you didn’t, they might now be at step two or three.
Nothing pours out at the end of the funnel either, you should just try and keep as many people at the end as long as possible, at step 5. Which leads to the “Hedge Maze!”
What shape sophisticated marketing systems make is perhaps best described as a hedge maze! We have all been in one or at least heard of them. Why is it a hedge maze? Hedge mazes are a nice activity that’s usually not all that hard to actually get to the center of, but on your way in and out you can choose your own path. You might go in a circle a few times, might get lost for a while, but if it looks nice and you are having a good time you eventually will figure out how to get to the center, and won’t walk out and go home the next time you find yourself back outside of it.
Why this is so relevant to modern times is the element of CHOICE. With so many options so close at hand, modern buyers want to feel like they made the right choice to become your customer over anyone else’s. You can draw them into your social media, pitch them through ads, offer value in a blog or email list, do outreach calls, etc etc, and if they stay engaged they will eventually find their way to making that decision to become your customer, stay a customer, and advocate your brand, and they will hang out at the center of your maze (aka the bottom of your funnel) for a long time!
