Building a brand is important for the success of your business.
It is the essence of your company – who you are, what you do and what you stand for.
It decides your brands market position and tells the world what to expect from your company, its people, products and services.
A powerful brand will increase business value, generate new customers, develop creates trust, etc.
A good method that will help you build a powerful brand is the marketing funnel.
A brand marketing funnel describes the customer’s journey with you. A brand funnel will measure awareness, consideration, conversion, loyalty and advocacy.
The funnel’s an important marketing tool that will help you build your brand equity.
#1 Brand Marketing – Raise Awareness for your brand
The first step of the funnel is Awareness. At this stage, your potential customer knows he has a problem and he wants to fix it.
This is the moment when you must help them solve the problem by offering a solution. If you do not, you lose a great number of potential customers at this stage.
The potential customer at the Awareness stage is looking for information. A Google report states that 70% of the buyers return to the search engines at least 2-3 times to find more about their potential solutions.
With proper tracking of your visitors’ behaviour, the funnel will tell you exactly if you have met your potential customer’s needs or not.
If not, you should work on raising your brand awareness.
This can be aided by
- SEO optimization
- Brand positioning
- Social media
- Blog posts
At this point, you should be exposing your name to a wider audience; and in front of your competitors.
#2 Brand Positioning – Consideration
In the second step of the funnel, the Consideration phase, you will find out if your product/service is well marketed.
Your funnel is successful if your potential customer sees it as a potential solution to their problem.
In this case, your prospect knows his problem and has identified a few solutions. All you have to do now is present your solution in the best way possible.
You have the opportunity to improve your content and make your products more appealing.
#3 Brand Equity – Making the preferred product
In the third stage of the funnel, the potential client will evaluate the alternatives.
This is the point when you have to present a better option than your competitors. A well thought-out brand strategy will be helpful at this stage.
#4 Brand Strategy – Increase conversion rate
In the fourth stage of the funnel, the potential customer has determined that he has a problem, evaluated the alternatives, decided which is the best for him and is willing to pay for the solution.
This is the natural conclusion of the previous three stages.
With correct analysis, you can discover what you can improve at this point to raise the conversion rate.
You should work with professional web site design and marketing teams.
They will work on your website design, sales funnels, track user behaviour and make data driven optimization.
#5 Brand Management – Increase Brand Equity
Loyalty’s the last stage of the funnel and a very important one.
The sales process does not end with the sale. Post-sale behavior is also very important.
This will guarantee you that the customer is satisfied and willing to share their satisfaction with others. This could be in the form of recommendations or product endorsement.
This is a very important factor for brand marketing. Peer to peer promotion is the most reliable source of promotion as friends trust the opinions of each other.
Analyse your brand
It’s important to know how your brand is perceived by your customer and potential customers.
By applying a brand marketing funnel,
- you increase awareness of your brand
- increase the number of potential customers who are willing to consider and evaluate your offerings,
- increase sales,
- gain more customer loyalty.
The ability to track customers allows you to analyze their behaviour. Thus, giving you valuable insights into what they are thinking at different stages.
Improve your brand Positioning
Being able to analyze consumer behaviour allows you to make data driven decisions to improve your business.
For example, if your potential customers follow through every stage of your funnel but end up leaving at the conversion stage – you have a high cart abandonment rate.
This means that your sales page needs improvement. Try new sales copy, stronger calls to action or a bigger “buy now” button.
Continue testing until you clear the choke points in your funnel.
Every step of the funnel tells you something about your brand’s strengths and weaknesses.
If you pay attention to details, you will be able to improve your brand image; building a strong, trusty brand.
Using your brand marketing funnel successfully, you can even bring the status of your brand to being the benchmark in the market.
You can create a positive reputation which will result in a boosted sales. Even in the first stages of the funnel, when you focus on increasing the awareness and obtain potential customer interest, you establish your business as an authority.
develop a better understanding Of Buyers
As a business owner, is very important to know your client and what he desires.
When you do, you can cater to his wants and serve him better. Your business success will be just around the corner.
Using a brand marketing funnel, you will have all the information you need to create a powerful brand and market position.
Raising awareness, optimizing the content, improve the brand image, raising the conversion rate and obtaining loyalty from your clients will result a larger market share for your business.
Taking the funnel into consideration, a company will be able to build brand equity fast and cost-effectively.
The funnel is a powerful automated marketing tool that should be analyzed by those with know-how.
The decisions after analyzing the data should be taken under the advice of by an experienced marketing specialist.
Otherwise, a wrong interpretation of the data could lead to a negative impact on your business.
The efficacy of your funnel, can be further magnified with the usage of different marketing tools.
The marketing funnel can be a very important cornerstone for a successful business.
Unfortunately, many struggling businesses do not know of it; let alone understand how to implement it into their daily processes.
While not simple, utilizing a marketing funnel, can get you a leg up on the competition and gain market dominance.
Seek out professionals like Blazing Conversions Digital Marketing Agency to help you.
Our consultants will work to unify your funnel and marketing endeavours for you. Contact us here.