Shopping is a process that we all go through. How many times have we seen something and bought it immediately? It is very rare when this happens. Usually, we all go through stages where we understand there is a need for something which implies the search for it. While searching we go through a process of analysing and sorting. Later, we end up deciding and purchasing the item. This behaviour of customers is studied in the form of a model known as the “Marketing funnel” by businesses to understand customer behaviour.
This helps them understand their behaviour and make their product range accordingly and also alter their marketing strategy based on this behaviour. There are various stages of the marketing funnel which are listed below –
1. Awareness –
This is the stage where the customer knows or realises they are in need of something. It could be something as simple as salt or something as huge as a dressing table. The major strategy that businesses follow to attract customers at this stage is through various marketing channels such as advertising, content marketing, social media, and SEO. This makes them realise they already are in connection with a portal that might fulfil their need.
2. Interest –
Once the customer has discovered a product that was looking for, there needs to be an element that drives them to open the website or generates enough interest for them to stay. This could include a service or product description that is completely unique and promising. This will give them interest and drive them to visit the site.
3. Consideration –
Customers are always one step ahead of the business owners and hence they are looking for competitors that are selling the same products. They might also be looking for reviews that might show them the actual status of the product, delivery and its long-term usage. This behaviour needs to be studied by the brands to understand how to engage their customers into not leaving the website yet.
4. Intent –
At this stage, the customer knows what they want to buy and is comparing the price, looking for any special offers or discounts. They are evaluating the whole decision they are about to take. This is why the discounts and offers need to be highlighted on the website so that they are visible while the customer is browsing through the products. ‘
5. Purchase –
The goal of the marketing funnel is finally achieved when the purchase is made. After the whole process of searching, comparing and analysing, the customer finally decides to purchase and completes the action. This is the final goal of the marketing funnel and all efforts are made for this.
6. Post-purchase –
The final stage of the marketing funnel is the relationship with the customer as it continues even after the purchase. We do not want the customers to vanish after a single purchase. Returning customers are always better and hence they need to be provided post-purchase support and assistance. They will also be providing reviews which are valuable for another cycle of the Marketing funnel.
Wrapping it up –
Marketing Funnel is a model to understand customer behaviour right from the point where they realise the need to buy something until the purchase of an item. This is a model similar to AIDA but a little more accepted among business owners as it provides a better result. This will help nurture the customer bond with the business and provide a better service after closely understanding the customer mentality.