Digital Lab

Marketing Funnel 101

Marketing funnels generate billions every year… but most businesses don’t even have one.

So what is a marketing funnel and how do you build one?

Let’s break down the concept and how you can use it to make millions.

Marketing Funnel Structure

A funnel is exactly what it sounds like.

It’s a way to take a large amount of traffic and funnel it towards a specific action.

Generally, one that creates revenue for your business.

The structure of a marketing funnel varies based on your business but here’s a simple structure to understand how it could work for you:

• Top of Funnel (Awareness Generation)​
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  This stage is where you generate traffic. Social media, broad advertising, SEO, outbound sales.
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• Middle of Funnel (Consideration Stage)​
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  This stage is where you qualify your traffic. Landing pages, website, retargeting ads, email marketing.
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• Bottom of Funnel (Conversion Events)
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  ​This stage is where you convert your traffic. Sales pages, forms, calls, downloads, sign-ups.
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• Post-Purchase (Expansion Phase)
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  This stage is where you take existing customers and increase their value. Reviews, up-sells, cross-sells, down-sells, referrals, affiliates.

A proper marketing funnel will have automated marketing touchpoints at every stage of this funnel.

If you’re missing anything here, then you don’t have a funnel.

Benefits of Marketing Funnels

Marketing funnels are great because they create a reliable customer onboarding experience.

The same sales language, nurture experience, conversion experience, and post-purchase communications happen with every customer.

This helps everyone on your team understand exactly how marketing is impacting prospects/customers at every stage of their journey.

Not having a marketing funnel means:

• Missing sales opportunities
• Less revenue per customer
• Lower customer retention
• Worse quality leads
• Unreliable lead flow

All of which lead to struggling businesses.

The perks of a marketing funnel are fairly obvious once you think through it.

How to Scale A Marketing Funnel

While building your first marketing funnel might feel like a challenge, the real challenge is scaling.

Once you have a successful funnel it’s not as simple as just pouring more on top.

You should consider how your funnel does (or doesn’t) work at higher volumes of prospects.

Additionally, not every funnel works for every prospect.

Funnels should be customized for specific types of customers.

Example Company: Internet Service Provider

Some customers will be shopping based on price. What’s the best deal?

Some customers will be shopping based on speed. What’s the fastest?

Some customers will be shopping based on reliability. What’s the most consistent?

Some customers will be shopping based on morals. What’s the most eco-friendly?

One funnel couldn’t possibly speak to all of these customers.

So you need to create customized funnels for each of them.

Market to customers based on their interests, beliefs, fears, aspirations, etc.

This is where it gets complicated.

The customer journey is:

• Unique
• Detailed
• Important

It’s a big challenge to give it the attention and consideration it needs. But that’s why many companies don’t.

The few that do take the lion’s share of the market in their industry.

The big players are big for a reason.

Is your business thriving with Marketing Funnels?

If you aren’t saying a big YES to that question, hit the button below. Our team has generated hundreds of millions of dollars with marketing funnels. We’ll spot exactly what you’re missing in just a few short conversations. No charge.