Marketing Funnel:
The marketing funnel is a simple visualization of the sales process. It splits up the phases of converting browsing eyes into customers, from awareness to your final objective - customer action and purchase. It comprises of the following elements:
- TOP OF FUNNEL (TOFU): This is where you capture attention and introduce your brand to a broad audience. These are potential customers realizing they have a problem or need. Utilizes social media content, blog posts, and search engine optimization (SEO) to build brand awareness and attract a large audience. It is measured by website traffic, social media engagement, and brand mentions.
- MIDDLE OF FUNNEL (MOFU): Here, you nurture leads who know your brand and solution. These are the people actively researching options and comparing features. Its examples are downloadable guides, webinars, and free trials to educate and engage potential customers. It is measured by lead generation rate, content downloads, and webinar registrations.
- BOTTOM OF FUNNEL (BOFU): The final stage of the customer buying process focuses on driving conversions. Leads are ready to buy, and you must convince them to choose you. Examples are crafting compelling product demos, case studies, and targeted email campaigns that showcase the value proposition and nudge leads toward conversion. It is measured by conversion rate, customer acquisition cost (CAC), and average order value (AOV).
