What is a marketing funnel?
A marketing funnel defines the buyer journey from product or service and brand awareness to purchase completion. Funnels provide a framework that enables marketers to track each touchpoint of the customer journey as they turn into prospects or leads, and as leads convert to customers. The funnel also helps companies understand where and how leads and prospects are not converting, how to optimize the sales cycle, measure Marketing ROI, and create a better, personalized customer journey. Understanding your Marketing Funnel will help you increase leads generated and get more sales. When a marketing funnel is done right, it should improve user experience thus increasing brand loyalty, and help you improve your marketing strategy over time.
For decades, buyers predictably went through the marketing funnel 1 stage at a time, from top to bottom, wide to narrow. The digital age has made it more complex to make such predictions. For example, today, your customers will do more research before buying a product or service because they have more information at their fingertips. Smartphones and internet connectivity makes it easy for the prospect to do all the research before they reach your store or website. If they like your offer they may continue down the funnel, but if it doesn't click they may take a step backward or even exit your funnel. While you can retarget these users with remarketed ads it may end up costing you too much to acquire each new client.
Why is it important to understand your Customer Journey?
Understanding your customer’s journey is important because it is a strategic approach to better understanding customer expectations and for optimizing the customer experience. There are a number of benefits to mapping out the customer journey such as:
Enhance the Customer onboarding process
Compare the customer experience you’re delivering against what the customer actually received
Learn the differences in buyer personas from when they’re a prospect to customer
Understanding the workflow and touchpoints in your buyer’s journey
https://www.prediq.io/customer-journey-through-your-digital-marketing-funnel/
