The classic Marketing Funnel refers to where a consumer may be in their journey to being a customer of yours. It is still alive and well today, granted far more complex in terms of measuring given the Cross-Channel, Cross-Device Digital world we live in today.
To keep things simple, we reduce the marketing funnel down to the following audiences:
- Awareness. This is the ‘top’ of the marketing Funnel and refers to people who we’re targeting to be made aware of our Product/Service offering
- Consideration. This is the ‘middle’ of the Funnel and refers to people we’re targeting who we know are already aware of our Product/Service offering but may have not shown intent to purchase.
- Purchase. This is the ‘bottom’ of the Funnel and refers to people who we know are considering our Product/Service but who have not yet purchased.
We recommend ‘filling up from the bottom of the funnel’. That is, using your Ad Spend on campaigns that are at the bottom of the Funnel first, then working your way up.
It also pays to work on one more step beneath the Marketing Funnel – Retention. Here we are reaching current customers, but we are either wanting to affirm them in their purchase and/or present them with an upsell/cross-sell opportunity.