A marketing funnel is a concept used to describe the journey that a potential customer goes through from their initial awareness of a product to their final purchase. It’s called a funnel because it is shaped like a funnel to represent the gradual narrowing of potential customers as they move through each stage of the process.
What are the different ways to look at a marketing funnel?
Fundamentally there are three ways to look at a marketing funnel. We’ll breakdown each type of marketing funnel using an example of a SaaS product 👇🏼
AIDA marketing funnel 🕺🏼
he AIDA funnel represents the four stages a customer goes through before purchasing your product:
We will explain the concept with an example of a Social Media SaaS product in each section 💪🏼
The first stage of the AIDA funnel is to grab the attention of potential customers. This is typically done through advertising, social media, or other marketing tactics that capture the attention of the target audience. Here’s an example from a SaaS tool
To grab the attention of potential customers, you might run targeted ads on social media platforms or Google AdWords that highlight the benefits of your SaaS product. One of the ad copies could be "Streamline Your Social Media Management in Minutes with Our SaaS Tool.”
Once you have the attention of potential customers, you have to generate interest in your product. This is achieved by highlighting the benefits and unique features of your product. Some good example to evoke interest are
Providing testimonials or reviews from satisfied customers
Offering free samples
Offering free product demo
Increase interest by offering a free trial or demo of your product. The goal could be to highlight its unique features, and demonstrate how it can help small businesses save time and increase their social media engagement.
After the customer has become interested, the goal is to create a desire for your product or service. This can be accomplished by creating a sense of urgency, demonstrating how your product can solve a problem or meet a need, or by creating a sense of exclusivity.
Create a sense of urgency by offering a limited-time discount or showcasing how your product can help their businesses stay ahead of the competition. You might also provide social proof in the form of case studies to demonstrate the benefits of your product.
Finally, the AIDA funnel ends with the customer taking action and making a purchase. This can be improved with clear calls-to-action special deals or discounts, and by providing secure checkout options.
Offer them a simple & intuitive registration process, provide clear calls-to-action that encourage them to try your product, and offer responsive customer support to answer any questions or concerns they may have.
Here’s an example of the AIDA marketing funnel for a D2C brand 👕
Let's assume that you have a Direct-to-Consumer (D2C) business that sells sustainable clothing. Here's how you can apply the AIDA framework to your marketing efforts 💪🏼
To grab the attention of potential customers, you might run targeted ads on social media platforms highlighting the benefits of your sustainable clothing. A good ad copy example could be - "Shop Stylish and Sustainable Clothing That's Good for the Planet."
Once you have the attention of your potential customers, you need to generate their interest in your product. Do this by showcasing your eco-friendly materials, providing information on your production process, and highlighting your unique designs that are fashionable, yet sustainable.
After generating interest, you want to create a desire for your sustainable clothing brand. You might create a sense of urgency by showcasing limited-edition collections or offering exclusive discounts to your email subscribers. You might also provide social proof in the form of customer testimonials or by highlighting your partnerships with sustainable fashion organizations.
The final goal is to get potential customers to purchase your sustainable clothes. Make it easy for them to shop by providing a simple and intuitive checkout process, offering free shipping or returns. A quick and incredible customer support can also speed up the conversion process for some D2C brands.
The TOFU, MOFU, BOFU way 🖱️
“TOFU, MOFU, BOFU" is a marketing framework that breaks down the customer journey into three stages: Top of the Funnel (TOFU), Middle of the Funnel (MOFU), and Bottom of the Funnel (BOFU). This framework is used to guide customers through the buying process and move them from the awareness to purchase.
Top Of The Funnel (TOFU) 🧢
TOFU refers to the first stage of the marketing funnel. It describes the initial stages of the customer journey, from the point where a customer becomes aware of your brand to the point where they express interest in your product or service.
Goal: The main goal of the TOFU marketing funnel is to attract a large number of potential customers and introduce them to your brand 💪🏼
The TOFU marketing funnel typically includes the following stages 👇🏼
At this stage, potential customers become aware of your brand and what you offer. This can be achieved through various marketing channels, such as social media, search engine optimization (SEO) or advertising.
Once potential customers are aware of your brand, the next stage is to generate interest in your product. This can be achieved by providing valuable content that addresses their pain points, offering free resources or tools, or highlighting the unique features of your product or service.
At this stage, potential customers are considering your product and comparing it to other options. This is a critical stage where you need to provide them with the information they need to make an informed decision. This can be achieved by providing detailed product information, offering demos or free trials, or providing customer reviews & testimonials.
Middle Of The Funnel (MOFU) 🚁
MOFU refers to the second stage of the marketing funnel where potential customers are aware of your brand and what you offer. They are interested in learning more about your product or service.
The main goal of MOFU marketing is to educate potential customers, provide valuable content, and nurture leads to move them closer to a buying decision.
The MOFU marketing funnel typically includes the following stages 👇🏼
At this stage, potential customers are looking for more information about your product. This can be achieved by providing helpful content such as blog posts, e-books, case studies, or webinars that address their pain points and demonstrate your products’ expertise.
Once potential customers have learned more about your product or service, the next stage is to provide them with the information they need to make an informed decision. This can be achieved by highlighting the unique features and benefits of your product or service, providing customer reviews or testimonials, or offering free demos or trials.
At this stage, potential customers are considering their options and may need some additional nudging to move them closer to a buying decision. This can be achieved by providing personalised recommendations, following up with targeted email campaigns, retargeting ads, or offering exclusive discounts.
Bottom Of The Funnel (BOFU) 🚀
BOFU which refers to the final stage of the marketing funnel where potential customers have gone through the awareness and consideration stages. They are now ready to make a purchase 🤑 or take another type of action that will lead to a conversion.
The BOFU marketing funnel includes the following stages 👇🏼
Potential customers have narrowed down their options and are making a final decision on whether or not to make a purchase. They may do this by comparing prices, looking for special offers, or seeking reassurance that they are making the right choice.
Once potential customers have made a decision to purchase, the next step is to take action. This can be achieved by providing a clear and simple checkout process, offering multiple payment options, and providing responsive customer support to answer any questions or concerns they might have.
After a customer has made a purchase, it's important to focus on retaining them and building a long-term relationship. This can be achieved by providing excellent customer service, offering loyalty programs and providing ongoing value through relevant content and offers.
Which is the best marketing funnel for my product/ business?
Choosing a marketing funnel for your product is a highly contextual one. You need to consider factors such as
Product or service offering,
→ A complex or expensive product may benefit from a longer funnel that focuses on educating potential customers and building trust. A good example is a B2B SaaS product.
→ Whereas a low-cost or impulse buy product may benefit from a shorter funnel that emphasizes more the conversion process. A good example is a fashion accessory like a sunglass.
P.S: If you loved reading about this growth metric, you will find this list of 23 growth metrics incredibly helpful 💪🏼