Marketing Funnel

A system that helps track the stages consumers go through to eventually make a buying decision is called a Marketing Funnel. It also guides you on what steps to take to help influence consumers at every stage, like follow-emails when a prospective customer has not made any purchase yet. Marketing strategists guide this traffic — the prospective customers — through the marketing funnel that is designed to be effective at each stage.

In each funnel stage, marketing strategists should facilitate consumers through the funnel process using different activities. Promotional activities must be utilized to help create awareness about the product/service, enumerate the benefits compared with the competitors, and outline the advantages of how a purchase will benefit the customer. Offering a special promotion that entices the sale is also a great way to guide consumers through the funnel. When purchase is complete, marketing personnel should engage the customer to get positive feedback and retain loyalty, which can easily lead to repeat business and referrals.

The marketing funnel serves as a good basic model, but marketers should be aware of how the buyer’s journey has been changed by technology. Before making a purchase, most buyers research on their own online, reading reviews and comparing features/benefits with a competing brand. They do not rely solely on a company's traditional marketing efforts to guide them through the funnel stages. Buyers now enter the funnel more prepared to make a sale. This means companies need to ensure that information is readily online, such as an up-to-date website, product info and customer reviews.