Marketing and sales are two sides of the same coin, and both are essential for a successful business. The marketing funnel is a useful tool to understand the process of converting potential customers into customers. It is divided into three stages: the top of the funnel (TOFU), the middle of the funnel (MOFU), and the bottom of the funnel (BOFU). At the top of the funnel, marketers create awareness and interest in their product or service.
This is done through TOFU strategies such as content marketing, social media, and email campaigns. The intermediate phase of the funnel is to nurture potential customers and bring them closer to making a purchase decision. This is done through MOFU strategies such as case studies, coupons, and discounts. The bottom of the funnel is where salespeople convert potential customers into customers.
This is done through BOFU strategies such as pricing information, customer service, and product demos. It is important to note that there is no single agreed version of the funnel; some have many stages, while others have few. The most important part of the marketing funnel is the top. This is because it is difficult to generate awareness without pre-existing contacts, but it is vitally important because you need a sufficient number of people to feed your funnel.
According to HubSpot, 89 percent of B2B marketers say brand awareness is their primary goal, not sales. By creating interesting and informative content, you'll generate more leads and sales at every stage of your marketing funnel. You can also use McKinsey's consumer decision-making process to show how the buying process is driven by itself and to highlight key points or points of contact. Overall, understanding the marketing funnel can help you create effective strategies to increase conversions and generate more leads and sales.