Marketing funnels have been in existence since 1898 and were developed by Elias St. Elmo Lewis, and they are still applicable to online marketing in Singapore today. The Ad agency executive broke down the marketing journey into four stages known by the acronym AIDA
Today, marketers have adopted slight variances to suit the changing landscape of digital marketing in Singapore. In this article, we seek to help you understand what a marketing funnel is, what it represents, and how you can build your own.
What Is It And Importance In Online Marketing In Singapore?
A marketing funnel is a representation of a customer’s journey, and it is organised in a set of stages used to measure the effectiveness of your marketing efforts in directing new leads into the funnel. It also looks at the efficiency of converting leads through each step.
With that said, a marketing funnel is an essential tool for defining and improving the strategy used in internet marketing in Singapore. For example, a demand generation director will use the marketing funnel from a statistical point of view to understand the conversion rate and the revenue generated by each stage of the funnel as well as the various marketing channel.
On the other hand, a content creator will use the marketing funnel to understand the various content types in regards to the client’s journey. For example, an email is perfect for enabling a client’s seamless on boarding or to driving brand awareness.
The Representation of B2B Marketing Funnel Represent In Digital Marketing in Singapore
The B2B marketing funnel is used as a guiding principle as well as an idyllic illustration of the customer’s journey. In a perfect scenario of online marketing in Singapore, a marketer can place ads and get impressions instantly. The ad viewers will then visit the marketer’s website to engage with the content and respond to the CTA.
The reality is that it hardly works out this way since there are different touch points in the funnel. However, marketers usually focus on a few touchpoints to maximise their efforts and ROI.
Experts of digital marketing in Singapore use it to optimise their marketing channels and reduce waste in an easy to understand format. Experienced marketers use it to solve the technical and creative challenges they face every day.
How to Build a Marketing Funnel for Internet Marketing In Singapore
Since time immemorial, marketers and entrepreneurs in Singapore have relied on lead generation to create new contacts for increasing sales figures. However, there are challenges plaguing lead generation, since there is a heavy focus on quantity over quality.
Focusing on quantity over quality misaligns the sales and marketing teams since they will not be able to convert the leads gathered by the marketing team.
This is one of the tools used in internet marketing in Singapore to understand a customer’s journey, and it takes into account the campaigns and channels aimed at growth hacking. This is a combination of sales and marketing data with a focus on converting leads and prospects into paying customers rather than continuously generating more leads.
It is one of the best ways to improve decision making for online marketing in Singapore, which eventually makes sales funnels more efficient, cheaper, as well as improving revenue. Pipeline marketing is different from traditional lead generation in the following ways
- Every stage of the marketing funnels is an opportunity for growth
- The funnel is focused not only on purchases but on customer loyalty and advocacy
- The market funnel is not always linear
How to Optimise Your Marketing Funnel in Singapore
Top of the Funnel
This is where you generate traffic, and the prospect is unsure of their exact needs with the technical requirements or the product. They are still shopping around different brands for the best solution.
However, most marketers and entrepreneurs doing online marketing in Singapore are familiar with the various channels, strategies, and tactics best suited to convert the prospect at this level. However, many people doing internet marketing in Singapore seem to have forgotten that content is king and should be of high quality.
If you have a robust, high quality content-driven marketing funnel, but your traffic is not interested in your product, and they immediately drop off the funnel then you have a problem. The solution here would be to re-focus the content to drive high-quality traffic. You can do this by
- Creating fresh keyword-optimised content to draw interested traffic
- Optimise or re-optimise your display ads and PPC keywords
- Leverage on the power of social media
- Recalibrate the targeting in your social media ads
You should also aim to measure the ROI to avoid spreading thin your marketing budget as well as to focus on where you can make the most gains.
Middle of the Funnel
By now, your target audience already has an idea about how your brand can solve their problem and they have warmed up to your online marketing in Singapore and your possible solutions to their needs.
All you need is to meet the expectations of your prospects and show that you can provide exceptional value and quality. The problem in this section is that the customer is interacting with your content, but it is not addressing the prospect’s specific needs. For this reason, the prospect will not convert in the next stage.
The solution here is to collect feedback from your prospects gained from your digital marketing in Singapore by tracking key metrics and using A/B testing is crucial in understanding the prospect’s state of mind. You can also use tools such as product reviews, community forums, case studies, testimonials, automated marketing campaigns among others.
The prospect is not converting due to the following reasons
- There is no immediate urgency for the product, yet they are interested
- They are interested, but they cannot afford it now
- They do not entirely trust you yet
The solution to the challenges above is to
- Communicate the value of your offer in a way that the prospect will appreciate
- Find different ways to enhance trust
- Find ways to elicit urgency, for example using discounts, limited inventory, exclusive offers
Bottom of the Funnel
The prospects that make it to the bottom of the funnel have decided on where to spend their money. In other instances, they might have already purchased your product. However, this is not a sign that they will buy from you, or continue buying from you.
They might still be considering competitors who are keen on upstaging your efforts in internet marketing in Singapore. The solution to increasing conversions in this stage would be to create a targeted, personalised experience.
You can do this by consistently building rapport by offers presented via email, even after the prospect has become a customer. The idea here is to integrate customer support, personalised experiences, and rapport into their lifestyle.
The marketing funnel should be used as a guiding principle and not as a Singapore internet marketing strategy. For your B2B online marketing in Singapore, you should use predictive modelling, A/B testing, among others.
Contact us today for professional digital marketing in Singapore. Our team will help you to evaluate and re-strategize your marketing to help you maximise your ROI.