What Is a Brand Funnel?
New to business marketing? If you hear the term ‘brand funnel’, it’s a vital concept to understand for your marketing strategy. Let’s take a closer look.
What Is a Brand Funnel?
A brand funnel exists as a concept to describe the customer journey from the first touchpoint with a brand to the moment of actually making a purchase. The brand funnel describes the idea of a customer moving through various planned stages of awareness to interest and engagement and then ultimately to a purchase. The ultimate aim is to build brand loyalty for repeat purchases.
What Are Brand Funnels Used For?
Marketing strategy consultants such as https://www.reallyhelpfulmarketing.co.uk/specialist-services/marketing-strategy-consultant/ use brand funnels to understand market research and to measure performance and awareness.
What Are the Steps of a Brand Funnel?
The brand funnel will measure audience awareness of the brand and then look at consideration to measure how many people are considering making a purchase. Then the brand funnel will measure how many people complete a purchase and then potentially make a repeat purchase. From this point, there is also the possibility of moving to advocacy, where customers will actively recommend your brand to their own network.
Why Are Brand Funnels Important?
A marketer can use a brand funnel to measure how healthy a brand is in terms of its performance and strength in the marketplace. The value of the brand funnel becomes particularly clear when it’s being used as a diagnostic aid for businesses that want to know why they aren’t converting leads. The shape of the funnel can be indicative of where the brand marketing strategy might be falling down.
Who Uses Brand Funnels?
Marketing strategy consultants and in-house teams will often use a brand funnel to formalise the understanding of their brand’s performance. The tool can be used with various software applications that bring the funnel to life with data modelling, analysis and further insight to predictively analyse possible actions for change and improvement.
So if you’re unaware of brand funnels and own a business, now is the perfect time to find out more.
