mastering the marketing funnel in the social media age
DESCRIPTION
This is a presentation that I did for the lead referral group at the Greater Derry & Londonderry Chamber of Commerce. It discusses how small businesses should be considering the Marketing Funnel in their online marketing efforts, and strategies that they can use to better lead customers and prospects to the ultimate goal in the funnel: Advocacy.TRANSCRIPT
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Mastering the Marketing Funnel in the Social Age
presented by:
Copyright © 2012 108 degrees, llc. All rights reserved.
contents
what is the funnel?
awareness consideration preference action
loyalty advocacy your funnel
Copyright © 2012 108 degrees, llc. All rights reserved.
what is the funnelthe marketing funnelSometimes referred to as the ‘purchasing funnel’, it is a model that illustrates the theoretical customer journey towards the purchase of a particular product or service
Developed in 1898, it has evolved today to a 6-step process that is enhanced by today’s social media and digital revolution
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what does your funnel look like?your marketing funnelAs we go through this presentation, think about what YOUR marketing funnel looks like. Ask yourself:
•How is my marketing process represented in each area of the funnel?
•Does my process in this area of the funnel contribute to the end goal?
•What could I do to make my funnel more effective?
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awareness
brand
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brand awarenessWhere prospects find your brand
broadcasttv, radio, outdoor
searchwebsite, mobile, seo
buzzsocial media, pr
direct blogs, rss, inbound
campaigns
where is your first touch?
In the old world, broadcast or “outbound” marketing was the only way to build awareness
Today, you have many more and more effective options for building prospect brand awareness
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search is king (even with social )
search enginesare the first source of information for nearly all of today’s consumers, both B2B and B2c
• As social and search become even more interconnected, your funnel needs to take advantage of the opportunities that search offers.
• Think about how SEARCH affects awareness of your brand
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consideration
direct touch
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experience with your brandAs a prospect considers a purchase, they begin to research the product or service, this is generally done online, especially with reviews from trusted sources, even if the review is done by a stranger
consideration research
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where is this consideration done?
onlineWebsites like Amazon.com that provide independent evaluations, Yelp that showcases member reviews and others where a prospect can anonymously research the opinions of others
disc
over
y
online research
product sites
consumer groups online
info
rmat
ion
anonymous user reviews
independent review websites in
tera
ctio
n online marketing materials
email newsletters
blogs and support forums
user forums
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where is your presenceas the customer is considering brands?
search
presence
blog
or
articles
youtube email linkedin
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preference
comparison
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comparisons lead to brand attachments
Customers now turn to known sources for information:• Social media platform
connections
• Local search opportunities
• Seeking perspective of trusted sources about the brand
• Brand attachments formed based on informed, trusted opinions
right choice
brand
individualtrusted
contacts
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what comparisons can be madeabout your brand online
your brand
• known users• online opinions• brand reputation
other brand
• known users• online opinions• brand reputation
As the customer compares your brand to others, the opportunity for brand preference arisesYour online presence, especially as it relates to social connections to the customer, can greatly influence that preference decision
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action
purchase
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purchase
• In a store or physical location
• Via online store access on the computer
• From the smartphone
• Via a tablet device
• Through a social action service like Groupon or LivingSocial
Today purchases can happen in many places:
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where can customers purchase from you?
The easier it is to purchase, the more likely the customer will take that action
SmartPhoneImpulse buys
Busy users
Social Sharing
Brick & MortarTraditional
Easily understood
Personal brand touch
Social ActionDiscounts/deals
Social = Volume
OnlineStoreQuick
Convenient
Private
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loyalty
reward
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rewarding loyaltythe relationship with the customer doesn’t end with the sale...
crmdatabase marketing
to keep ongoing touches
online community
allow users to connect to each
other
rewards loyalty-based programs than
incentivize repeat purchases
email ongoing
communication to develop
relationships
follower encouraging social
follows with benefit programs
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how do you reward customer loyalty?
post-sale
• Thanks for business
• Post-sales follow up
• Regular touches
satisfaction
•Satisfaction surveys
•Ongoing opinion solicitation
programs
•Incentivize repeat purchases
•Encourage frequent upgrades with rewards
•Tips, tricks, ideas and advice for users
•Regular promotions
social
•Follower specials
•Incentives to share information with their contacts
•Lead toward advocacy
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advocacy
brand advocates
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what is a brand advocate?
brand advocatesare customers who talk favorably about a brand, product or service and then pass that positive word of mouth message to other people
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why do you want advocates?
Highly ActiveAdvocates
recommend brands more
32% rec more than 10 brands/year
Average advocate rec’s 26x/year
Large Networks
Advocates have more contacts
Advocates average 200 - 450 people in their social networks
18% have over 500 contacts
Impact Purchases
Advocates use online tools that drive
purchasesAdvocates use email the most (57%) but also use social media, blogs and
third party sites to rec brands
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how advocates impact a brandpercentage of users that take action when an advocate recommends brands to them
consider buying rec’d brand
buy the rec’d brand
don’t know/no action
0 18 35 53 70
17
22
61
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who are your brand advocates?
do you currently have any brand advocates to work with?
Amanda DoeHomemaker
Has referred 3 new customers this year alone
Jesse DoeSmall Business Owner
Blogs about how your product/service has helped his business
Marvin DoeConsultant
Recommends your product/service to clients
Bobby DoeCompany Executive
Long time customer who has repeat purchases
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your marketing funnelHow do you:
• Build brand AWARENESS in online media?
• Ensure that your brand makes it to the CONSIDERATION phase for a potential customer?
• Help your prospect compare your brand to the competition to find their PREFERENCE?
• Let your customer take ACTION to purchase?
• Build LOYALTY with customers that have purchased your brand?
• Develop ADVOCACY with your existing customer base?
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