Crucial when it comes to understanding the progress of your prospective leads. A B2B marketing funnel helps in creating the right marketing strategy based on the churn rate. Moreover, it also helps in understanding the right thing that worked for your marketing strategy.
Let us understand in detail the marketing funnel to get our business marketing strategy in the right direction.
Various Stages of the Marketing Funnel
The B2B marketing funnel is based on the AIDA model. Every letter of the acronym stands for a specific step in the marketing process:
- Awareness – In this stage, the customer is aware of the existence of the product
- Interest – The interest in the customer grows after being surrounded by the product advertisements.
- Desire – A growth in the desire to possess the product is observed
- Action – The customer turns into a lead, thus taking an action, on selecting the brand/product.
This customer journey is very crucial in determining the next marketing step, every marketer should take to grow the brand of the business.
Interpretation of the B2B Marketing Funnel
The fundamental interpretation of the marketing funnel stands with the point that it helps the business to understand the current standing of the customer, in the customer journey. It gives an understanding of where the customer is standing currently with respect to the buying journey.
Based on the current position, you can find out what is the next step that the customer is expecting from the business. Planning these next steps is done on the basis of the marketing funnel.
The marketing funnel plays an instrumental role in getting your customer to the next step, by analyzing the previous churns and strategizing it accordingly.
Important questions that you must ask as a marketer.
B2B marketing is all about asking the right questions. Here is a list of questions that you must ask with the help of the marketing funnel.
- Who is the target audience?
- What are the product offering and the value chain being provided?
- What is the vehicle with which you’re offering them value chain to your customers?
- When is the right time to actually offer your customers the right product?
These questions become very crucial when it comes to creating a marketing strategy. Though the first stage looks to be the most cumbersome stage, it is the backbone of the entire marketing process. Since targeting the right audience also means you would be reducing the wastage of the marketing expenses, you should focus on identifying the right cohort.
The targeting will also help you in creating the customer persona. The right customer persona will always be very crucial in determining the customer journey.
After this comes a channel through which will offer the products to your customers. Finally, the right time to pitch in your products so that the customers are looking forward to making a purchase.
Bottom line:
B2B marketing funnel is crucial because it helps organizations to save a lot. If the AID A model is followed strictly, then it can only result in great conversions with the least marketing expenses. Being a B2B marketer, this should be your bread and butter.
