A marketing funnel helps you better visualise and understand the process of turning your leads into actual customers. Depending on where you are in the funnel, the strategies that you need to do may vary. However, as your reliable digital marketing and advertising agency will tell you, there are elements of funnel marketing that you would have to apply no matter where you are in the funnel.
In this article, we will share four full-funnel marketing essentials that you need to know about:
- New Measurement Methods for Brand Campaigns
One problem with traditional forms of advertising like TV commercials is that they are hard to track and measure. Sure, their reach is vast, but you aren’t able to collect the insights that you need to determine what affects customer behaviour with this approach.
It’s a good thing that more and more consumers are shifting to digital streaming services that allow marketers to monitor who is seeing their ads and show different ads to different households. Moreover, there has been new measurement approaches used in recent years that made tracking easier, such as the following:
- Content-recognition tech enables marketers to determine a more direct link between ads and consumer actions
- Digital surveys allow you to measure brand awareness and more
- Attribution tools give you an idea as to when and where consumers see your ads and how they correlate to consumer action
- Unified Key Performance Indicators (KPIs)
You can better understand how certain marketing strategies impact your business when you have a unified set of KPIs between every stage of the funnel and actual results. For example, how is an increase in unaided brand awareness affecting your website traffic? Does exerting more effort in brand building result in more queries or purchases?
A unified view can help you clearly see how every touchpoint in the funnel affects the others, and you’ll be able to determine which metrics do matter. You can then use your findings to make necessary adjustments.
- Improved Media Mix Modelling (MMM) for Integrated Spending
Marketers use MMM to gauge the impact their campaigns are making, and more importantly, figure out how much they should be spending on various types of marketing. Though it is effective, it is not without shortcomings. For instance, they do not respond to short-term changes, and they are not that granular when it comes to their recommendations.
However, advancements in analytics have significantly improved the way you can determine where to give the credits for customer conversion in the MTA models. Also, having incrementality tests done with a control group that hasn’t seen ads can give you a clearer verification of a channel’s performance to help you understand the value of a specific tactic or channel. At the same time, note that while such tests are relatively simple to do and inexpensive, they can also be time-consuming when you run them at scale across channels.
- A Full-Funnel Operating Model
To get the benefits of a funnel, you need to make sure that you have a full-funnel model that’s complete from top to bottom. This is because you can’t simply choose to apply one to an already existing process, and you must also rethink how things get done across all functions. Consider the following tips:
- Marketers need to be rewarded for delivering goals and be held accountable for their actions as well. The basis would be the unified KPIs connected to full-funnel performance like brand awareness, visitor traffic, and more.
- Close collaboration between brand managers, analytic marketers, and stakeholders, among others, is necessary to ensure productivity. Regular huddles can help ensure that everyone is on the same page and the decisions are made by all.
- There should be a deeper understanding between the cloud digital agency and the partner. The marketers should be aware of what they are responsible for and closely collaborate with the brands they’re working with and the channels they use to market.
- Test and learn capabilities should be developed and used even by mid-and upper-funnel teams to help optimise videos and other content delivered alongside effective tactics.
Full-funnel marketing is not the same as a single campaign strategy, as it is a complete change in how you do marketing. It requires closer collaboration to make the most of everyone’s marketing capabilities in every funnel stage to ensure the biggest impact possible from the campaigns launched. It is also a complete visual of how your entire marketing strategy should work and how it drives growth.
At the same time, full-funnel marketing may be confusing and hard to understand without the explanation of a reputable remote digital agency that can help you understand how your brand will benefit from it.
Whether you want to know more about full-funnel marketing or you’re ready to give it a try, contact Routes 4 Media, a full-funnel digital advertising agency in London. We can help take your business where you envision it to be. Contact us today to know more about our services!