THE Full Funnel structure is the instrument to connect between the disciplines in the organization to measure and monitor the performance.
If you are a business owner, you know the importance of the right marketing strategies. And when we talk about marketing strategies, how can we forget mentioning the marketing funnel. Also, known as sales funnel or conversion, the marketing funnel is the core of your marketing plan. It is the best way to nurture your customers and drive sales by increasing brand loyalty.
A marketing funnel breaks down the customer journey into different stages - from the awareness stage to the final purchase stage. The funnel’s top represents the pool of potential customers who come to know about your business for the first time. The funnel’s end represents a small number of loyal customers who come back to you to avail of your services/products.
The marketing funnel lets you know things you need to do to persuade your customer at certain stages to drive sales and increase brand awareness. Now that you understand what is a funnel, let’s discuss the marketing funnel stages and strategies for each step.
THE marketing & sales funnel structure which is part of the Marketing Platforms Cornerstones, covers the marketing and sales process entirely, from generating, through nurturing tactics, situations surrounding the engagements, and up to the closing of the deal.
The Full Funnel structure is crucial for the implementation success; here are the main points to take into consideration while structuring the Funnel.
Take every significant step in the process into a stage, in general, every point in which the Prospect might need to think or take decisions should be a stage.
Every type of product should have its comprehensive funnel, to be able to test the performance on a weekly base the funnel needs to be aligned.
A funnel can be built for a specific product or a particular business model of a product.
To convert a lead(s) from one stage to another there has to be a specific task which trigged this conversion- It is not a sales or marketing decision.
NO more Sales Funnel! Collaborate with the sales of the marketing team and the product team. The funnel represents the entire cycle for the product not only for the sale.
Upon the funnel structured, each one the Leads needs to be allocated to a particular stage- not the account as a group but the leads in which include all the contacts in this process.
Build the nurturing, engagements, and retention process for the individual in the buying group and for the buying group-as-a-whole.
When you talk about Marketing Automation, the first answer from Customers is, “yes, we have CRM, or yes, we have an Email Platform”. But, sorry, no… CRM and Email Platform MAP are not the same and usually do not support the same work, goals, and objectives.
Then, what are the main differences?
It is understandable why it’s confusing. Both CRM, Email Platform, and MAP provide information about clients and prospective, stage on the funnel, history engagements. But the main difference is with the type of marketing channels the platform knows how to manage.
In some Marketing Automation Platform- MAPs solutions such as HubSpot, SharpSpring, Marketo the CRM is a module on the MAP platform.
Research and studies have been conducted over the years to show the effectiveness of MAP on conversion rates and the increase in revenue of companies who implemented MAP and not only email platforms, but more have found that reducing churn rate and support sales cycle can be achieved with the MAP platform.
Here are some of the insights:
78% of high performing marketers regard marketing automation as a critical contributor to increased revenue.
By 2020, 85% of the customer-to-business relationships will be managed without human interaction, says Gartner on their Gartner customer 360 summits.
80% of marketing automation users saw an increase in their lead numbers, 77% had an increase in conversion rates, and 91% of marketing automation users agree MAP is essential for the overall success of their online marketing activities.