What Is A Digital Marketing Funnel?

A digital marketing funnel is a process that has been used for many years to help highlight the performance of a given strategy. But what exactly is a digital marketing funnel? And how do you create one for your business?

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If you are a digital marketing agency in the 20th century, you need to make sure you are an all rounder. And that is what Oviond is! With Oviond you can ensure you cover all aspects of your clients reporting with our three key reporting features: Digital marketing dashboards, digital marketing reports and digital marketing funnels. 

In this blog, we will focus on the importance of digital marketing funnels and how you can create one for your business.

What Is A Digital Marketing Funnel?

In short, a digital marketing funnel is a visual representation of the steps your customers take to fulfill a desired action. An action can be anything that you want it to be such as, increasing engagement on social media, increasing sales, or increasing website traffic.

The funnel has been given its name due to the shape it takes once the steps are visually represented. The idea is that, at the top of the funnel, there are various customers who will take the first step, however as they move down the funnel, more and more people will lose interest and trickle away. 

Only the most interested buyers will move down the funnel and fulfil the desired action.

On Oviond even though both dashboards and funnels include very similar features, they are both very distinct in the way you decide to represent the data. 

With dashboards you would be able to include various KPI’s in the form of scorecards, line graphs, tables and charts, while on Oviond’s funnel feature, you would be able to visually build the different stages of your funnel in a handful of widgets. 

Both dashboards and funnels are located as two separate reporting features within your client project, so that you can ensure your clients’ accounts stay organised. 

Why Do You Need A Digital Marketing Funnel? 

Many companies have acknowledged the growing importance of a digital marketing funnel to help with customer conversions. However, there are various other benefits that come with implementing this process: 

  1. Segmentation: A digital marketing funnel will help you better segment your content, ads, marketing actions and more. Placing the right content, at the right time in front of your audience will ensure you are nurturing your customers at each stage of the funnel, guiding them closer to a conversion.
  2. Effective Lead Generation: As mentioned above, only the most interested buyers will move down the funnel. With this in mind, the funnel will deliver more qualified leads, making the chances of conversion higher and easier.
  3. Increased Productivity: With a funnel you will ensure you are delivering the right content at the right time. This will help eliminate wasted resources on content or strategies that are not effective.
  4. Loopholes: A funnel will help you identify the stages where you lose the most customers. This will help you understand if the content you are serving has been effective enough or if there should be a change in strategy to increase your audience’s interest. 
  5. Live data: Oviond’s funnel feature offers you the opportunity to provide your cleints with live data. If you would like to share funnel insights with your clients, all you have to do is provide them with a live link to your funnel. On this live link a client will have the ability to interact with the charts to get a day by day performance as well as manipulate the date range, with the included date picker, to monitor the performance across various months. 

Creating a digital marketing funnel will help your company effectively use its resources to improve the bottom of funnel conversions. 

How To Structure A Digital Marketing Funnel? 

Oviond currently provides three different funnel templates to help get you started: lead generation funnel, basic engagement funnel and e-commerce funnel. Each template focuses on a specific goal to ensure you are accurately monitoring each stage of your funnel and effectively reporting on your conversions and marketing actions. 

However if you are looking to create your own, there are various ways in which you can structure your funnel to help guide your strategies. The model usually has around six stages. Let’s take a look at each stage in more detail: 

Exposure 

No matter what type of goal you are trying to measure with your funnel, your first step is always exposure. At the top of the funnel, it is important for customers to know about your company. 

You need to ensure your brand is present on the right platforms and producing the right content. The content should be relevant to your product or service, with topics that will increase your audience’s interest. 

At this stage, it is extremely important to have an effective content marketing strategy.

Discovery 

At this stage, your main goal is to make your audience stay on your page. With this in mind you need to ensure you are producing content that sparks enough interest in your company that you encourage your audience to leave their contact information, becoming a lead. 

Consideration 

By this point your audience knows that your brand has a solution to their problem, so it is important to be delivering information about your product or service that will help them make a decision. 

The content should be focused on topics that prove your product or service efficiency, explaining your companies differences from your competitors and the added benefits to choosing your brand. This usually can be content in the form of frequently asked questions or testimonials from other customers. 

Conversion

At this stage, your audience is almost convinced that your solution is the right one for their problem. 

It is important here to focus on more personalised content. This can be done in the form of customized campaigns or even sponsored links to guide your audience to a specific conversion landing page. 

On the landing page, highlight once more the results the users can expect from your product or service, as well as how you differ from your competition. 

Once again a conversion can be anything you would like it to be. Conversions will range from signing up for a free trial to increasing website sales. This will all depend on your goal.

Customer Relationship 

Once you have converted your lead into a user, the next step is to teach your customer how to use your product. This can be done through a sequence of email to help nurture your clients on where to get started and can even include video tutorials to help highlight how to use certain features of your product. 

Producing this type of content can be seen as a great competitive advantage. 

Retention

The last stage of your funnel is to measure how many customers continue to make a purchase. It is important to continue to have a healthy line of communication with your customer even after they have bought into your product.

Monitor the communication with your customer regularly to ensure that they are still happy with your product or service. 

Elements That Make Up A Digital Marketing Funnel On Oviond

With Oviond you can build your very own digital marketing funnel, here are the range of features that will facilitate monitoring your performance: 

Blended Data Widgets

With Oviond’s blended data widgets you will be able to combine multiple metrics from multiple integrations to get the overall performance of your client in one single widget. By using a blended data widget you will be able to accurately create each stage of your funnel to monitor the overall impact on your customers persona and develop accurate actions according to your goals.

Landscape View 

Oviond’s funnels offer the perfect orientation to display your data. With this landscape view you can accurately visualise each stage of your funnel. 

Auto-Refresh

Digital marketing funnels can be refreshed and referred to as many times as you see fit. Usually, it is advised to look at your funnel everyday, to ensure you are constantly monitoring and analysing the performance of your marketing campaigns. 

With Oviond’s auto refresh feature, you can ensure that your data is constantly updated to your desired time periods. 

Continuing Your Reporting Journey…

Now that you are all clued in on how digital marketing funnels work, continue on your reporting journey and explore the different ways you can monitor your clients data through marketing dashboards and marketing reports.