The 4 Phases Of The Marketing Funnel

Marketing Funnels

Responsible marketers have an in-depth understanding of industry sales cycles and how each cycle phase affects the next in succession. They implement programs strategically designed to funnel targeted prospects into making conversions (sales) and ongoing sales for brands.

A marketing funnel is an industry term referencing a process which illustrates what a sales cycle looks like and how prospects are guided towards making a purchase decision in the cycle. When prospects enter into our marketing funnel they are exposed to our brand through meaningful touchpoints designed to:
 

1. Familiarize targets with our brand so they know us
2. Engage with our targets in meaningful ways to where they like us
3. Maintain lasting relationships with converted leads to where they grow to trust us

Phases of the Marketing Funnel

Awareness Phase: Prospects are introduced to brand

The first phase of a marketing funnel is brand awareness. In this phase, we use proven strategies to help make our target prospects aware of our brand. This is done through many different means, all of which work together. Having a strong brand strategy displaying who we are as a brand and how we connect with others is extremely important in this phase. It’s our first chance to make a lasting positive impression with our desired prospects.

During this phase, we want to expose desired prospects to our brand with enough reach and frequency so they begin to remember us by name and associate us in a positive light.

Marketing Tool Samples:

Billboards, Networking, Television or Streaming Video, Sponsorships, Print Ads, Display Ads, Public Relations, Search Engine Optimization (SEO), and more

Consideration Phase: Prospects are considering if they relate to your brand

The second phase of a marketing funnel is the consideration phase. Once our target prospects are familiar with us, or know us, we need to interact in ways that encourage them to consider us over our competition. Content generation and meaningful, engaging touchpoints are critical in this phase of the process. It’s important to clearly identify our points of differentiation and be relatable.

Marketing Tool Samples:

Social Media, Video Marketing, Blogging, Website, Email Marketing and more

Conversion Phase: Prospects make a purchase decision

Next, prospects who are ready to make a purchase decision enter into what is known as the conversion phase. During this critical phase, our number one goal is to have strong brand recall and be well-liked so we are positioned at the top of our prospect’s mind as the obvious answer to their needs. This makes the purchase decision favorable to our brand over the competition.

Marketing Tool Samples:

SEO, Search Engine Marketing (SEM), Website, Customer Service

Engagement Phase: Prospects enter into a relationship with your brand

Once a conversion, or sale, is made, it is critical to continue positive engagement with our new customer or client. Every brand interaction thereafter is crucial for ongoing success and the longevity of the relationship. This sale can easily turn into other sales through strong brand loyalty and referrals utilizing proper brand engagement.

Marketing Tool Samples:

Email Marketing, Loyalty Programs, Social Media, Customer Service

Key Takeaways:

1. The more prospects know and like a brand, the more likely they are to convert into sales; therefore, understanding who you are as a brand and how that works into a marketing funnel, or sales cycle, is crucial for success.
2. When a prospect is ready to buy, they are more likely to choose a brand they are familiar with vs one they are not.
3. Different stages of the marketing funnel utilize different marketing tools to push the target through a process.