This is the second in a series of four blogs: a step-by-step guide to Building and Executing a Successful Growth Marketing Strategy. You can read our previous article here. In our first article, we covered what Growth Marketing really means for sustainable growth, and the first stage of building a successful Growth Marketing Strategy: Defining Personas. In this article, we will clarify the importance of funnel building, looking at the key points to be considered when implementing Growth Funnels successfully.
A marketing funnel (we will call them Growth Funnels) is basically the set of stages that a potential customer goes through when making a purchase. These stages start with awareness and end with conversion, including either the purchase of your product/solution; or post-purchase activities. It is a way of breaking down the customer journey until the goal you set according to your business strategy is met. So, funnel architecture depends on what your goals are and what actions you want your visitors to take. Growth funnels are the foundation of your growth marketing strategy and activities. When building your funnels, some key points need to be taken into consideration:
a- Each funnel should match a brand/product/solution: You may have an umbrella brand and sub-brands, or different solutions under an umbrella brand catering to different demands. Therefore, your funnels should be built separately for each brand/product or solution.
b- Each funnel should be built based on your brand’s business model such as B2B, B2C, C2C, etc. For a B2B business model, your funnels will also differ if your solution caters to an enterprise, small business or startup.
c- Each funnel should match a persona: There might be more than one persona for each brand/product/solution and the reasons why they are interested in your brand will vary. For instance, a CTO’s pain points and objectives will be different than a CFO’s for a Fin-Tech brand.
d- Each funnel should be connected with one or more landing pages: You can create as many landing pages as you need for each funnel, positioning, and persona. Your landings might be for an event, a specific solution/service, or downloadable content such as an ebook, use-case (case study), etc. In our previous article, we mentioned the 4 key steps to executing a successful growth marketing strategy (and covered step 1):
1- Define your Personas
2- Build Growth Funnels
3- Create Growth Tactics
4- Monitor, Measure, Optimise, Repeat
We now continue to explain step 2 through our end-to-end Growth Marketing Suite: Marketing Machine.
Creating growth funnels might sound complicated with its various parameters, but here’s how you can easily build your funnels on our Marketing Machine:
Picture 1- An example of the growth funnel creation screen on the Marketing Machine Suite
As you can see, the Marketing Machine allows you to create new personas and products while automatically linking you to your pre-established personas and products.
Since every business’s sales process and CRM systems are different, the Marketing Machine allows you to determine your funnel fields according to your internal process. It can be integrated into any CRM system so that your funnels are created automatically, or you can input data into our Marketing Machine manually.
Picture 2- How to create funnel fields on the Marketing Machine Suite
And Voila! Your funnels are ready. You can track as many funnels as you’d like on one screen. You can also go to the persona, product, landing page, and positioning details with just one click.
Picture 3- A sample strategy matrix screen on the Marketing Machine Suite
Growth funnels allow you to monitor where you are losing potential customers and give you the insights to adjust your marketing activities accordingly. At later stages, you will be able to see the complete customer journey including numbers and percentages, such as how many visitors become leads, and from there, how many leads are qualified- until they become customers. The Marketing Machine also allows you to compare your funnels and see which ones work better. We will explain this in detail in our next articles.
Now you know how to build Growth Funnels without any hassle through our Marketing Machine. Make sure you don’t miss our next articles! We’ll be talking about “Creating Growth Tactics” and “Optimising a Growth Marketing Strategy!”
If you want to accelerate your business growth, let us show you the way.