Module 2 - Building Conversion Avenues The Marketing Funnel
What is a Marketing Funnel? ► The journey from awareness to purchasing = AIDA model ● Awareness ● Interest ● Desire ● Action
What is a Marketing Funnel? ► Standard Model ● Multiple price points ● Give personal info first ● Make initial purchase ● Make increasingly larger purchases or repeat purchases ● Intent is to maximize the lifetime value of a customer
What is a Marketing Funnel? ► Authority Model ● Taster - Introduction ● Deeper Content - Authority ● Courting - Trust ● Larger Purchase ● Smaller Purchase ● Recurring Revenue
Which Model is Right? ► AIDA ► Standard Model ► Authority Model
The Reality: You Still Need AIDA
Example of application of marketing funnel using converting free to paid model
AIDA Example ► Social Media Community Manager — Eve ► Target market: small business owners ► Personal objective: have a baby ► Business objectives: higher hourly rates, on retainer for more clients, team to handle day- to-day work, passive revenue
Eve’s Ideal Customer ► In business at least a year ► Generating minimum of low 6 figure to low 7 figure a year in business ► Not a one-person operation (outsourcing okay) ► Preferable if they outsource some work
Packaged Services ► Social media audit ► Social media strategy
Packaged Retainer Services ► 1-3 hours per month consulting ► 5, 10, 20, 25, and 50 hours per month community management
Packaged Joint Venture Services ► Social media presence – basic ► Social media presence – advanced
Free Webinar ► An auto-delivered webinar available free of charge in exchange for subscribing to her email newsletter ► Topic: How businesses can best use social media
Paid Social Media Training ► Individual training programs geared to each primary social network ► Bundled comprehensive social media training ► Membership program
Eve’s Free Program ► 2 weekly blog posts ► 1 guest blog post every 2 weeks ► Weekly video blog ► Email newsletter + bonus ► Promoted to her social networks ► Reshare ratio 1:5 ► FAQ Page ► Free reports on new social networks
Key Points About Eve’s Plan ► Time involved – 15-25 hours per week ► Creating long shelf life products ► Building credibility and trust ► Built over time
What’s Next?
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