The marketing funnel
Lesson 10 from: Brand Marketing Bootcamp: Build An Actionable Marketing PlanScott Lancaster
The marketing funnel
Lesson 10 from: Brand Marketing Bootcamp: Build An Actionable Marketing PlanScott Lancaster
Lesson Info
10. The marketing funnel
Lessons
The definition of strategy
03:39 2The 4 stages of marketing
03:16 3The difference between strategy & tactics
03:46 4The 6 laws of marketing
09:56 5Understanding Creative & Distribution
02:16 6The 4 marketing P’s and how to use them
05:08 7SWOT Matrix and how to use it
02:28 8Porter's Five Forces
04:4360/40 Law of marketing
04:04 10The marketing funnel
06:27 11Analyzing your competitors
07:14 12Deciding your target audience
06:59 13Creating your marketing objectives
11:42 14Pricing your products perfectly
08:16 15Watch this before arranging your marketing strategy
02:21 16Awareness, finalizing your awareness tactics
03:52 17Partnerships and affiliates (free tactic)
09:40 18Blog writing & SEO
07:26 19Podcasting
07:10 20Public Relations
05:58 21Giveaways
07:18 22Word of mouth
06:21 23Valuable courses
08:09 24Social media overview
05:28 25YouTube
09:36 26TikTok
03:58 27Twitter / X
04:48 30How to create better content in half the time
07:54 33Why start-ups should never use paid advertising for awareness
06:21 34Education & Consideration
01:33 35Workshops & Webinars
08:39 36Social Proof
06:55 37Effective Email Marketing
05:34 38Utilizing FAQ Sections
05:31 39Portfolio & case studies
07:39 40Leveraging product comparisons
03:26 41Tips to increase desirability
07:22 42Harnessing the power of Google reviews
05:20 43Sales & Conversion
02:28 44Psychological tricks to convert customers to buying
08:25 45Building a list of customers ready to buy
08:46 46Irresistible Offer
08:31 47Persuasive Sales Page
07:35 48Promotions & Free shipping
04:24 49Improving conversion rate (PIPE FRAMEWORK)
06:39 50Customer Retention
03:43 51Expanding your product range
07:18 52Asking for feedback & refining your product
03:37 53Loyalty programs and the subscription model
06:43 54Gifts & Surprises
05:02 55Finalizing your marketing strategy
07:40Lesson Info
The marketing funnel
If we're going to really understand marketing, we need to break it down into an easy to understand process because to be honest, life's just easier that way. Now, although there are lots of different types of versions of a marketing funnel, the reality is that no matter how complicated you try and make it, it's actually really simple. And when you can understand what a marketing funnel is and the different stages to the customer journey that pretty much every single customer has ever experienced throughout every single sale. Since the start of time, you can really start to understand how to structure your business' marketing efforts and also which areas of your marketing and the customer experience that your customers are currently experiencing themselves. And also at which stages your customers are experiencing issues is stopping them from buying from you. Now, this is really important because if you don't understand this, then you have no idea where your customers are falling off and...
you ultimately don't know what to fix. So by absorbing everything in this lesson, you can start to gather some structure in regard to fixing the problems within your marketing funnel so that you can ultimately convert more potential customers into paying customers. Now, I'm going to go through the four stages which I've mentioned earlier on in the course in detail. So you understand exactly what each of them mean and how you can use them. So the first step is awareness. So what is the first step to buying a product? Well, you have to become aware of the brand and aware of the fact that that particular product actually exists. This is done by ultimately getting exposure and getting your product or brand in front of the right people at the right time in the right place. Now, please do not worry, we're going to be going over plenty of tactics to help you get awareness for your brand and product. So do not worry we'll cover that later on in the course. But right now, I just need you to understand the importance of actually generating awareness for your brand and for what you do so that your customers can actually have you as an option when they are considering buying your product or service. This is always the first step to any marketing funnel. Ok. So next, we have the consideration phase or the education phase. So at this stage, the customer is just wanting to learn more about you. So they are simply just wanting to educate themselves in our as to what you offer so that they can make the best decision for themselves going forward. Now, this particular stage of the marketing funnel is extremely important and I'll explain why. So when you are in a state of thinking about buying a particular product or service, you are ultimately weighing up all your different options and then you're going to go with the one best suits you. Now, there are lots of different things that you can do again which we cover later on in the course when we get to the tactics section, which can basically give you a better chance of converting potential customers into paying customers. And as the whole game of building a business is about profitability and generating sales, it's an extremely important thing to get, right? And I'm going to share a couple of tips and tricks with you later on in this course to really help you to understand how to get your consideration fares. Absolutely perfect. Now, after the consideration or education fares, we have conversion or sales activation. Now, at this stage, it's all about getting the sale. So what are we doing to push customers over the line and get them to give us their money? Not in a bad way, but we essentially want to persuade them to actually buy what we have to offer and to incentivize them in doing so. Now, before we move into customer retention, which is the last step of the marketing funnel, I want to share a little framework that I created which is be help both myself and my clients to understand how to improve their marketing going forward. Now I'm going to dedicate a completely separate lesson to this later on in the course. But it's just super important that you understand the value of this particular framework when you're learning how to market your products and services more effectively. Now, I like to call this framework, the pipe model. And the reason I call it the pipe model is you're essentially using the analogy of of water going through a pipe, which represents the customers who are actually becoming aware of you. Then considering you then buying from you and then ultimately being retained as a customer. And the reason that this is super valuable is that it actually gives you a visual representation of little leaks in the pipes so that you can actually tie that particular leak to something you can action fix. And what happens when you do that is it essentially makes everything much easier to understand and you can focus on the issues need to be fixed in a prioritized order. So you're not fixing things at the end of the funnel when there actually more issues at the start of the funnel where most of the water is getting lost. So it just helps to really structure your thinking and helps you to fix the most important things first and the least important things last. And lastly, we have customer retention. Now what most business coaches and courses and stuff will focus on is basically how can we get more clients? How can we get more sales? How can we do this? It's not all about getting new customers. In fact, if you look at some of the most successful businesses on the entire planet, it's all about customer retention. That is where the magic is made and that is how you ultimately start to grow exponentially as a business. Look at Netflix, for example, they have a great customer retention strategy. Look at the likes of Protect Philip, for example, they have a list of customers that are waiting for when their watches are released so that they don't have to pay anything on marketing to actually activate tills. They have a list of people that are ready and willing to buy their new products when they launch and develop them. And the reason that this is important is because when you're constantly paying a ridiculous amount of money to acquire a customer that instantly eats into your profit when you actually sell the product. Whereas if you're paying nothing to sell back to a loyal customer again and again and again, you don't have to pay anything to keep them. They are there and ready to buy your product. Whenever you develop something new or when you have something else to offer them, we're gonna look at each stage of the marketing funnel, more care later on in the course. But I just want to give you an overview in regard to how we would be approaching the marketing strategy development process so that you understand exactly what we're doing and why we're doing it anyway, I'm getting super excited. I cannot wait to start actually developing your marketing tactics with you. So I'll see you in the next lesson.
Class Materials
Bonus Materials