Are Marketing Funnels Obsolete?

Picture this:

Your marketing strategy is meticulously designed, but customers aren't following the linear path from awareness to purchase like they used to. Instead, they loop back, ask peers, read reviews, and reconsider their options multiple times before making a decision.

Today, we see loops and spirals where customers circle between stages, influenced by social proof and ongoing engagement rather than moving in a straight line.

Solution:

It's time to adjust your traditional funnel into a dynamic, looping model. This new approach acknowledges that customers might move back and forth between stages, influenced by ongoing engagement and social proof.

This approach not only matches the modern customer's journey more accurately but also enhances the efficiency of marketing efforts, potentially increasing ROI and customer lifetime value.

Why does it work?

This new model mirrors the real-world behaviors of today's consumers, providing multiple touchpoints and reinforcing their decision-making process at every stage. It allows for more personalized and timely interactions, increasing the chances of conversion.

How to Act Now:

1 - Map (or Re-map) Your Customer Journey:

Identify common points where customers loop back or stall.

Step 1: Gather data from your CRM and analytics tools to understand where customers spend the most time and where they drop off.

Step 2: Analyze, interview or survey customers to get insights into why they return to certain stages or abandon the journey.

Step 3: Visualize the journey using a diagram that includes common loops and potential exit points, making it easier to identify and address critical moments in the customer experience.

2 - Implement Feedback Loops:

Use customer feedback and behavior data to refine messaging and outreach strategies.

Step 1: Set up mechanisms for collecting continuous feedback, such as follow-up emails after purchase or service interactions and embedded feedback forms on key web pages.

Step 2: Analyze feedback to detect patterns and pain points that cause customers to hesitate or backtrack in their journey.

Step 3: Use these insights to refine your marketing messages, adjust your offerings, or improve customer service responses to keep potential buyers engaged and moving forward.

3 - Enhance Engagement Tactics:

Introduce educational content, retargeting campaigns, and loyalty programs to keep your brand top of mind.

Step 1: Develop targeted content that addresses common questions or concerns at various stages of the customer journey. This could include FAQ sections, how-to videos, or detailed service comparisons.

Step 2: Implement retargeting campaigns that re-engage customers who have shown interest but did not convert. Use dynamic ads tailored to their interests and previous interactions with your site.

Step 3: Launch a loyalty program or community forum to build a stronger ongoing relationship with your customers. Offer exclusive content, discounts, or early access to new products to encourage continuous engagement.

B2B Business Example:

1. Signals:

A B2B service business realizes warmer leads are dropping off and not converting, typically after a website visit and opting-in to a lead magnet. They seek to test out a full-funnel marketing strategy that aligns with all stages of the buyer's journey, from awareness through retention, to create a seamless customer experience across all touchpoints.

2. Identifying the Loop:

They identify the loop that prospects take - between their LinkedIn, email communications, and website - and incorporate tools and strategies at each touchpoint to provide personalized and timely interactions for engaging with prospects throughout their complex journey.

Such as lead scoring within their CRM based on website user behavior that triggers personalized email sequences to connect for a 1:1 discovery call - a key and final stage of their customer journey.

This new approach not only better matches their customer's journey but also enhances the efficiency of marketing efforts.

The Bottom Line?

The traditional marketing funnel isn’t extinct but evolving. Embrace a flexible, loop-based model to better serve the modern customer’s complex journey and drive effective engagement.

This article first appeared on the Trailblazer Digest here: https://trailblazerdigest.beehiiv.com/p/outdated-marketing-funnel-strategy