1. Marketing funnels
Welcome back. In this video, we'll be reviewing other representations of the marketing process beyond the user journey, and how they vary for different channels.
2. From journey to funnel
Journeys are a representation a lot of companies use to describe marketing interactions from a user's perspective.
From the perspective of the marketing team, many marketers will often talk about a funnel: the typical journey customers will take on their path to purchase. You can think of a marketing funnel as a series of aggregated journeys.
3. A marketing funnel and its parts
There’s typically a series of stages that many individuals pass through as they learn more about a company, these include:
Awareness: initially learning about a brand,
4. A marketing funnel and its parts
consideration: determining whether the company service or product fits the user’s needs,
5. A marketing funnel and its parts
conversion: purchasing from the company,
6. A marketing funnel and its parts
and loyalty: purchasing from the company again, or even referring others to make a purchase.
7. Funnel phases and marketing channels
Different channels of marketing tend to target different parts of a user’s journey. You may also expect, then, that they also tend to target different parts of the funnel.
Awareness tactics are typically channels like paid social media or paid search, where individuals can be targeted based on expressed interest (for example, Instagram accounts they follow or keywords they search). TV is a more traditional medium that is also used. The ultimate goal is to get individuals to the company’s website, so that second party data can become first party data.
8. Funnel phases and marketing channels
Consideration typically occurs on a company’s website where individuals research the product or service. If the product is digital, they may request a demo or a trial. This is also the part of the journey where customers are most likely to consider a competitor. As they come back to the website and reflect on making a purchase, you’re likely to see more organic activity occur.
9. Funnel phases and marketing channels
Conversion: this also typically occurs on a company’s website, or possibly in a store depending on the industry. Increasingly in today’s world, more of this occurs online.
10. Funnel phases and marketing channels
And loyalty: if a customer is satisfied, they’re likely to return and purchase again. Email is used by many companies to remind users of products, inform them of new offers, and provide custom discounts to encourage loyalty.
11. Email funnel
Funnels are used across marketing, and can also be used to describe customer interactions. Let’s look more closely at Email.
12. Email funnel: delivery rate
Imagine your favorite brand is sending out emails to share their new products. First, its sent, and usually, received. This is the top of the funnel.
We can quantify the step of sent to received as the reception rate. If this isn’t in the high 90%s, there could be a technical issue with delivery, such as formatting causing email clients like Gmail to flag your marketing as junk mail.
13. Email funnel: open rate
The next step, from received to opened emails, can often be quantified through the open rate. This is typically in the 20%s.
14. Email funnel: click-through rate
If customers then click a link in an email, often encouraged via a call-to-action, then they'll be counted in the click-through rate. Average click through rates are around 10-12%.
15. Call-to-action
A call-to-action is a prompt for an immediate response or next step from the audience. It can be found outside of email marketing as well, like on web pages or in social media ads.
16. Let's practice!
Here's a great example of a call-to-action; let's practice! In your next exercises, you'll analyze email data.