What is a Marketing Funnel?
Day#113 / 365. I’ve been inspired to start a new series of articles about “Marketing Funnels” simply because this term comes up in many conversations that I have with clients and potential clients and I wonder sometimes if anyone really has any idea what a funnel really is, let alone how it impacts a business. So I’ll just explore this concept during the coming week and I bet we will all learn a little something!
WHAT IS A FUNNEL?
The purchase funnel, or purchasing funnel, is a consumer focused marketing model which illustrates the theoretical customer journey towards the purchase of a product or service. Wikipedia
There are different names for a sales funnel:
- Sales Funnel
- Purchase Funnel
- Marketing Funnel
- Purchasing Funnel
- Full Funnel Marketing
- Conversion Funnel
Most of these terms refer to a similar concept of establishing the journey of a consumer through your business, from first awareness, to sale, to post sale. Though I have seen some models that just lead up to the sale transaction. In the coming days I will start working through topics such as how to use Funnel Marketing in your Strategy to increase sales, but also how social media fits into each of the steps of a potential funnel.
Here is an example of a sales funnel