Most people in network marketing – or any marketing for that matter, are familiar with the term “Marketing Funnel.” I have heard it for years, but I never gave it any serious thought. So, I decided to do so today. Most marketing funnels are based off the model developed by St. Elmo Lewis in 1898. His model and most to this day have four stages: Awareness, when someone becomes aware that your business exists. Interest/Consideration, when someone becomes interested in learning more about your product or service. Desire/Preference, when someone wants to buy from you. Action, when someone buys something. In the past, before the Internet became the huge marketing tool it is today, the Awareness stage included advertising, public relations for media mentions, perhaps flyers and business cards. Today, online networking in a variety of ways is a much more common method of “getting the word out” about your business. People use search engines, read blogs, perform online research, participate in social networks and watch YouTube videos. Lewis’ model modernized to today’s marketing styles and tools would look something like this... At its widest point, is an Audience – the number of people who have access and are potentially qualified to buy from you. Your target market. The Funnel narrows at the Interest level, the numbers grow smaller and include only those who might consider buying. In classic marketing, this is narrowing from everybody who sees an ad to those who respond to an ad. They are interested, considering it. The Funnel narrows further at the Desire level, when people make contact. They become Leads. They move to the first stage of the purchasing process by clicking on a link at your website, sign up to be included on an email list or opt-in to your website. The funnel narrows still more as it goes from Marketing to Sales, converting Prospects to Customers. People take Action and become Customers, those who choose to pay you for your goods or services. If your funnel doesn’t appear to be flowing properly, look back at the previous levels. For instance, if prospects are not becoming leads, they are not expressing an interest in you, ask yourself why. Is your website at fault? If you have more than one site, should you be directing prospects to another site? Are you providing an unclear or absent call to action? Another thing comes into play that defies classification. Perception. Perception influences a Lead to buy. At the same time, it is at the top of the funnel influencing factors such as brand image and reputation. How much does reputation of your company, product or service influence the ultimate decision to make a purchase? Just a couple days ago, I was speaking with a prospective team member about joining my Xpress Healthcare business when I ran into a “Perception” wall. He commented that he would find it difficult to recruit people because our $67 monthly affiliate fee was so high. I found his Perception of the cost strange, because in the previous 10 days, since Xpress Healthcare had reduced our affiliate fee to $67, I had recruited more new team members than I had in months, because they thought that $67 was such a great bargain. Perception. Today’s social media and myriad online resources have transformed the process of the funnel. Many new sources of information influencing the customer at each stage have arisen. So much so that a sixth level was recently added to the funnel - Advocacy. Our customers today may become brand advocates, spreading their own testimonials and positive messages throughout the Internet. Advocacy can affect each of the five other stages of the funnel by influencing search results, retweets, product reviews, Facebook "likes," and more. As marketers we must continue using our classic marketing tools where they are effective. At the same time, we must utilize the communications and advocacy in customer networks that drive our marketing through all six stages of the funnel. In today’s digital age, only by combining both the new and the old will a business be on the path to strong sales and valuable customer relationships.
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