What is a marketing funnel?
Basically, a marketing funnel outlines the process for turning prospects into customers. It lays out the step-by-step workflow or customer journey.
Why should you care? Even if you’re a solopreneur or small business owner, having a marketing funnel will help you prioritize your marketing activities, and measure their effectiveness.
A basic marketing funnel has four stages: Attention, Interest, Desire, Action (AIDA).
- ATTENTION – First, you have to get your prospect’s attention.
- INTEREST – Second, they show interest in your product by exploring your website, downloading an ebook or signing up for your mailing list.
- DESIRE – Third, you’ve established credibility and value of your product, and your prospect desires it.
- ACTION – Fourth, they take action and purchase your product, moving from prospect to customer.
If you have a subscription product, or a SaaS (software as a service) solution, then there are two more important stages:
- RETENTION – your customer stays subscribed and continues to enjoy your product.
- ADVOCACY – your customer loves your product so much that they advocate and send referrals your way.
I just published this article on the SaaS Marketing Funnel on my Software Marketing Advisor website, but this is relevant for any subscription business: