Consider yourself to be the owner of a shoe store in the 90â€™s. You sell all kinds of shoes from every major brand for every occasion. Would you expect each and everyone who comes into your store to make a purchase? If you do, you shouldnâ€™t. People who visit your store might be coming there to check out the prices and go back to the other store which is offering at a cheaper price or they just want to know the latest trends or they just like to spend time in your store for the experience it provides.
Would you drive those who are not buying away? These people may not be purchasing right now but they would surely coming back to make a purchase at some point. The same principle applies to the internet.
If youâ€™re a store selling a product or service, people visit you for various reasons, some of these may buy your product or service, but whatâ€™s happening with those who arenâ€™t buying? Should you even care about these people?
The Digital Marketing Funnel!
You mustâ€™ve, by now, heard of the Digital Marketing Funnel. The analogy of a funnel is not new in marketing and is not specific to digital marketing.
As said before, not all of your website visitors buy from you in a single visit, a portion of them do. Just like a funnel! If you put balls in a funnel as shown in the figure below, at any given point all of them cannot reach the bottom which signifies a purchase.
What is happening with those who are not reaching the bottom? Theyâ€™re leaking away.
The single most important function of a digital marketer is to improve the number thatâ€™s coming out of the funnel. Most marketers here refer to the word, plugging in the leakages. Their idea is that by plugging in the leakages youâ€™re letting in more people pass through the funnel.
In our next post weâ€™ll see how to integrate multiple funnels into your strategy