The marketing funnel is not a new concept, it dates back to the late 1800’s. It was created by Elmo Lewis and has since been adapted along the way to suit current environments. Lewis’s model stood for awareness, interest, desire and action. If you think about it, all words that we still use today when talking about a potential client’s journey to purchase [engage with advice].
The diagram below shows you three distinct phases that a potential client can go through before they pick up the phone to contact you. These steps can occur if a potential client has found you online or even if they have been told about you by someone else.
1. Lead generation . Another way to phrase this is awareness. It doesn’t matter if you are starting out, running a particular campaign to a segment of your client base or, just wanting more clients. If you don’t create awareness, how will anyone know you exist or see your message? Modern ways of communicating and finding solutions mean that there are far more channels available to you – that’s a good thing! See the diagram for suggested approaches to create awareness and generate leads.
2. Opt -in/contact details . Educational based marketing is again another marketing concept that has been around for years. You and I know all the benefits of gaining financial advice and can probably talk under water about the value of advice. However, not everyone else can. Educating potential clients about the value, the benefits, the expected outcome and the process they will go through are necessary points to remember to educate potential clients about. People loathe adverts but, they consume articles, blogs and videos 24/7! Knowing this gives you the opportunity to educate, position and influence people about your advice.
3. 7+ touch points . Never assume that because someone has been told about you, found your website or attended your seminar that its a ‘done deal’ and they will become a client. I remember surveying a client a few years ago [onbehalf of an advice business], and this particular client took two years before she actually made the call [not unusual!]. Why? She was busy with all the other stuff in her life but, because the adviser had kept in touch along the way, she remembered him and thought he cared enough to have her business.
By using a marketing funnel approach, you can adapt your message and timing depending on the type of campaign and speed of results you are seeking.
Marketing has changed. It’s exciting, but I acknowledge it can be daunting. If you have any questions about this marketing funnel or how you can improve your marketing, feel free to get in contact with me directly!