A Basic Digital Marketing Funnel That Any Business Can Use
What is a Digital Marketing Funnel?
Funnels in todays world can go by many different names. For instance, a funnel may be called a “sales funnel",” “marketing funnels,” “conversion funnels” “sale pipeline,” “Sale Process,” “Customer Journey,” and many more. Even though they have different names they are all very similar, if not the same.
According to medium.com, a marketing funnel is what takes a potential customer through the whole journey from discovering your business, all the way to purchasing your products on a regular basis.
Every business and sale involves some kind of funnel whether one intentionally makes one or not. There is some type of way to get new customers, teach the customers about their services, and sell a product or service to those same customers. A digital marketing funnel are simply those steps put together except it entirely on the internet.
The 3 Phases of a Digital Marketing Funnel
Top Of The Funnel (TOFU)
The top of funnel is the first phase a digital marketing funnel. Most people understand this phase intuitively.
The idea is to post content on social media, websites, or blogs to grow brand awareness and get discovered by people who never heard of your brand or business.
Middle Of The Funnel (MOFU)
The middle of the funnel is the phase where people know your brand or business but don’t necessarily trust you enough to buy. This is where a lead magnet will come in handy.
A lead magnet is piece of content that your audience finds very valuable such as checklist, infographic, or guide. You give this valuable content away for FREE.
Why for free? Giving away a lead magnet helps build rapport with your audience, puts you in a position of authority, and you are helping solve a problem so they feel slightly indebted to your brand.
Bottom Of The Funnel (BOFU)
The bottom of the funnel is the phase where people know your company and trust your company but have not actually purchased your flagship product or service, yet.
Up until now the funnel has been preparing and educating your audience on the value your product, or service, can bring and how it can affect their lives for the better.
Now that they know, trust, and respect your brand it is time to offer your flagship product or service.
The 3 Basic Phases of a Digital Marketing Funnel (In-depth Explanation)
TOFU - Top of the funnel
As mentioned before this first phase of a digital marketing funnel is where most of your traffic will come from. The average person will have no idea who you are. Which is why this phase is so important. This is where people learn about your brand, or business, for the first time.
The goals of the top of the funnel are as follows:
Increase your brand awareness
Grow your remarketing list
Grow your website traffic
Increase overall engagement
Each phase of the marketing, or sales, funnel has specific content that work best in that phase. The recommended top of the funnel content is as follows:
Social Media Updates
Video / Video Podcast
Digital Magazine / Book
Print Magazine / Newsletter
Many business owners make the mistake of trying to sell too early. You would never propose marriage on a first date so why would you do that in your business? You want to create the relationship first, and the top of the funnel is where you can start!
MOFU - Middle Of The Funnel
The middle of the funnel is where your audience starts to evaluate you as brand, or business. They have viewed some of your content, or maybe they follow a social media account, but they have not actually become a customer yet. Meaning, they haven’t given you money.
Our goal in this phase is as follows:
Grow your email list
Grow your potential leads
Grow Retargeting List
Initial Customer acquisition
In order to accomplish these things you will need to create two things a lead magnet and tripwire.
As explained before, a lead magnet is a piece of valuable content you give away for FREE. Yes, FREE.
Many people don’t like giving things away, but that is what will put you ahead of your competition. It gives your audience something of value that they can use right now, which puts you in a position of authority and trust. If the lead magnet is really good your audience will feel somewhat indebted to you for helping them solve a problem. Also, as being human this thought will eventually cross their mind “wow, if they are giving this away imagine what the quality of their service, or product, will be once I pay.”
In reality, you are not really giving it away for free. You will be asking for an email address in exchange for your lead magnet. This will allow you to grow your email list and potential leads.
Now that you know what lead magnets are, let’s talk about tripwires.
A tripwire is something of value that you can sell at a very low price, usually anywhere from $1 - $20. However, as every business is different your tripwire might be more.
This tripwire will be used to create that initial customer acquisition. What is initial customer acquisition? Well, it is a process where you change the relationship of your lead from a prospect to a buyer. This mental switch is huge because if they bought something small no matter what it is, they are far more likely and willing to buy something again. That small payment can also be used to cover some of the marketing costs to get that customer into the funnel and acquire his/her information.
The recommended content for MOFU phase of a digital marketing funnel is as follows:
Discount or Coupon Code
Quiz or Survey
Webinar or Events
Any of these can be used as lead magnet to help grow you email list and potential leads.
BOFU - Bottom Of The Funnel
Now that you have gone on a few ‘dates’, and have built a relationship with your audience and customers it is time to ‘propose marriage’. The bottom of the funnel is where you offer your flagship product or service, among a few other things.
The BOFU goals are as follows:
Nurture your leads and customers
Grow your remarketing list
Maximize immediate customer value
Increase retention of customers
Increase the frequency your customers buy
Now again you don’t want to come out and say “hey, buy this!” The ideal way is to sell them at the end of a piece of valuable content. Lead them through a story of success and offer your product at the end.
Here is a list of some great content that can be used for this:
Demo and/or Free Trial
A Customer Story
Comparison or Spec Sheet
Webinar or Event
Each of these pieces of content is meant to further build trust and authority with your customers. It also helps clear any doubt that they have about your product or service. You are offering to show them why it worked for this person, a free demo so they can see it first hand, and maybe a mini class to show them how to use the product or service the best way possible.
How to apply a Digital marketing Funnel to your business?
Now that you understand each part of the marketing funnel, you can apply it to your business.
Here are some suggestions to get you started. (:
Analyze what you are doing now.
Organize your content, services, and products in the appropriate phase.
See what you are missing and/or what can you improve on.
Mix up the content
Develop a lead magnet if you do not have one.
Think of a low dollar offer that is relevant to your service or product to use as a tripwire.
Create a path that leads your audience through the funnel.
Wait till the end to give them the big offer.
Never propose marriage on the first date!
If you have any questions, or need some help implementing this funnel leave us a comment or click the button below to send an email!
Download an infographic About the digital Marketing funnel.
This infographic will give you a quick guide to the 3 phases of the funnel. Click the button below download!