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Marketing Funnel: How to Optimize the Customer Journey

A marketing funnel doesn’t have a one-size-fits-all strategy. Your marketing funnel can be adapted to different processes to reach a goal, which can be a conversion, achieving a registration, or closing a sale.

And this works well if you can get to know the habits and preferences of your customers or visitors better. Your marketing funnel provides much more value to your marketing strategies when you know your customers; Then, you can make informed decisions to improve the customer experience as they move through each stage of the sales funnel.

The goal of this article is to help you get the most out of your marketing funnel, learn what your advantages of implementing into a marketing strategy are, and how to apply it with marketing tools to improve sales.

What is a sales funnel?

A sales funnel is a series of stages to guide potential customers through their different phases until they convert. In the stages of the marketing funnel, the company plans and establishes processes to communicate with its users and achieve its final goal, which can be conversion, capture a lead or close sales.

The marketing funnel is commonly based on the AIDA model

Attention

Interest

Wish

Action

But you can simplify your process in a model of three concepts TOFU, MOFU and BOFU to create the right content, understanding the buying cycle of your users in your marketing strategies.

Later in this article we will look at the TOFU/MOFU/BOFU funnel model.

Marketing Funnel Stages

In the marketing funnel, it’s important to understand the customer’s journey, from the moment we have contact with them, to the moment of conversion. And part of that is understanding how each stage works and what kind of content we can deliver at each stage of the marketing funnel.

Let’s see what kind of content we can create at each stage of the marketing funnel.

Attention

The initial phase of the marketing funnel is the discovery phase, i.e., users are curious about a topic, but are not yet clear about a need or do not know what the problem they have is about.

That’s why, at this stage, we help educate users, helping them discover something they don’t know about. Some examples of content that we can implement to generate attention are:

  • Blog articles, we can implement: Tutorials, analysis and reviews, news, interviews.

  • Pieces for social networks such as: Phrases, tips, figures and questions.

  • Videos such as: tutorials, interviews, events and demos.

And we can also make use of infographics

Interest

Once we have managed to capture the attention of users or customers, we must generate interest in it. In this phase of the marketing funnel, we are going to try to capture information or contacts from users by generating content that arouses the interest of users or customers. Therefore, the content to generate interest or capture information that we can implement are:

  • Ebooks such as: Guides, tutorials, tools, etc.

  • Webinars to: demonstrate authority on the topic, demo products, approach or show new products.

  • Send weekly, biweekly, monthly newsletter with valuable content.

Wish

If we have already managed to arouse the interest of our users or customers, the next step in the marketing funnel is to provoke the desire to buy our products or services and to achieve that desire about our products or services, we can share content such as:

  • Templates, formats, or matrices.
  • Tools, simulators and analysis.
  • Checklists
  • And comparisons.

Action

If we have managed to capture the attention of users, arouse their interest and generate desire for our products or services, what remains is to achieve a purchase action and obtain the long-awaited sale. To get action from our customers or users, we can generate content such as:

  • Document case studies (Very useful in B2B cases)

  • Free trials or discounts can work very well.

  • Demo to show the user how the product works.

  • Free guidance and consultations via calls or video conferencing.

Here are the 4 stages of the AIDA model in our marketing funnel during the purchase decision process. However, we must keep in mind that the relationship with our customer does not end with the sale. Implement Customer loyalty strategies are very important to obtain repeat purchases.

3 Funnel Stages: TOFU / MOFU / BOFU Model

TOFU, MOFU, BOFU stands for Top, Middle, and Bottom and refers to each of the phases of the conversion funnel.

TOFU (Top of the Funnel)

The TOFU stage is the highest stage of the funnel, here what we do is create content to attract as many visitors as possible. In this phase, it is recommended not to launch offers or promotions to users, as they are not clear about their needs. In the TOFU stage, post-type content is usually disseminated that helps users, guides them and allows them to identify what they really need.

An example of a post can be WhatsApp Marketing: How to include strategies for your marketing campaigns?

MOFU (Half of the Funnel)

In the MOFU stage, which is how the second stage of the conversion funnel is known, potential customers enter halfway through the funnel, once they have figured out what they need and engaged with your brand in a meaningful way, leading them to subscribe to email lists. to follow your brand on social media or have signed up for a webinar.

BOFU (Bottom of the Funnel) - Conversion

The bottom of the BOFU funnel is the fundamental piece that closes the sales cycle. At this stage of the funnel, only potential customers arrive who, after visiting you, have considered you as an option and are interested in your products or services.

To convert them into customers, you will need to create content such as: A free trial or a product demo, etc.

4 Marketing Funnel Metrics You Should Measure

Cost Per Acquisition (CPA)

This indicator shows us how much is being spent on a marketing campaign to acquire a customer and it is usually looked at a lot, when we have paid advertising campaigns or when we do marketing through email, social networks or other channels.

To get this indicator, you just need to divide the total cost of your marketing campaign by the number of conversions. From there, it’s pretty simple, if the cost of the campaign exceeds what was sold, you should consider ending the campaign and trying another alternative.

Customer Lifetime Value (LTV)

The LTV metric helps us measure the ongoing value a customer brings to your business and has a very close relationship with retention and the likelihood that a customer will make another purchase.

Conversion rate

This indicator measures the conversion frequency of a customer, some specialists measure only the conversion of the final sale. However, we can measure success at each stage of the funnel through goal-based conversions, for example:

  • 1 TOFU Conversions: Visitors who convert into leads.

  • 2 MOFU Conversions: How many leads convert into subscribers or subscriptions.

  • 3 BOFU Conversions: How many of the subscriptions or subscribers convert into customers.

By measuring each stage in relation to conversions, it allows us to make better decisions about the strategies that are being implemented at each stage of the funnel, rather than the end result.

Conversion rate per channel

Marketing channels have different goals, so it’s important to analyze the success of each channel, as some channels may include

  • Organic Search
  • Paid Advertising (Display Ads, SEM, Social)
  • Email
  • Referred

By defining conversions by channel, it will be easier for us to define the success of our campaigns, so you should ask yourself what you consider a conversion:

Would clicking on a paid ad be a conversion?

Would replying to an email be a conversion?

Or would signing up for a newsletter be a conversion?

Ask yourself questions like these at each stage of the funnel and identify what you want to accomplish in each channel to measure your results.

Tool to increase marketing funnel conversion rate

When we focus on measuring only quantitative data, without considering qualitative data (i.e., how people experience the actions they have in the marketing funnel, how they think and how they feel throughout their different stages), we are missing important information, which you should consider very well.

To help you obtain data, which will allow you to increase conversions in all phases of the marketing funnel, there is a fundamental tool, which is WiFi Marketing.

With WiFi Marketing you can:

  • Know your customers. Find out what kind of customers visit you, find out what their preferences and tastes are.

  • Better segment your marketing strategies to convert more. By better understanding user behavior within your brick-and-mortar business and having more and better data on your potential customers, you’ll be able to customize your content strategies and target your marketing and advertising campaigns wisely.

Build loyalty and communicate with your customers. Engage with your users and get feedback that helps you improve the experience at different stages of the marketing funnel.

Conclusions

In conclusion, we can say that the key to an effective funnel is to know your customers better. By having a tool that allows us to obtain quantitative and qualitative data, it will allow us to build a funnel that responds to the needs of your customers and consequently increases the conversions of your business.

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