Using the Marketing Funnel to Grow Your Business
In today’s fast-changing adscape, covering all parts of the marketing funnel is more important than ever.
What is the “marketing funnel” and why is it important to reach customers before they’re ready to make a purchase? You’ve probably heard of the funnel before: It’s a tool designed to help advertisers plan effective ad campaigns that generate real, profitable results. Picturing it as an ice cream cone is a great way to think about it, and when it’s used properly, you’ll celebrate sweet success!
In this diagram, “Awareness,” or branding tactics, sits at the top (the largest part), “Consideration” is sandwiched in the middle, and “Conversion,” or sales, is at the bottom.
Maybe the primary goal of your advertising campaign is to generate leads. It’s tempting to skip straight to the “Conversion” phase. This bottom part of the funnel will look very attractive. That’s where leads are generated, and potential customers are converted to sales, right? The short answer is “yes,” but there’s more to the story.
Let’s start at the top: Awareness.
“Awareness” is arguably the most important part of the marketing funnel. Have you ever heard anyone say, “It starts at the top?” Here, it really does. Consumers buy from businesses they trust. Awareness placements and branding messages give advertisers the opportunity to build a rapport with potential customers, even before it’s time for them to make a purchase. This is where TV is the star performer: According to the Video Advertising Bureau (VAB), the average 30-second TV ad generates the same amount of awareness as 1.5 YouTube ads, 4.5 Facebook in-feed ads, or 40 desktop ads!
Consideration goes hand-in-hand with awareness.
Running ads on TV consistently not only bolsters brand awareness, it increases the effectiveness of all ad placements in the middle and lower parts of the funnel. The “consideration” phase is where your business or brand has the opportunity to truly build relationships with potential customers. Think of this as the “relationship building” stage. Engagement and recall are critical components here. Cable and streaming TV work well in this phase.
Ads that appear on a TV screen are memorable for an average of 109 days after viewing. Adding streaming to the mix can allow for mobile placement. TV viewed on a mobile screen can drive 61% more sales and stay in a consumer’s memory for an average of 66 days. Streaming TV makes a powerful complement to consistent TV advertising and covers the “consideration” part of the funnel well, as this is where demographic targeting comes into play.
Optimum Media’s AdMessenger is a very easy and cost-effective way to target potential customers who may be in the consideration phase. This scrolling banner that’s delivered to consumers’ mobile phones reaches them where they are, whether they’re at home relaxing on the couch, eating dinner with friends, or out shopping for a new vehicle. With actions like “tap-to-website” and “tap-to-map,” AdMessenger makes it easy to put your message in front of your potential customers as they’re researching and making decisions.
Behavioral targeting, QR codes, and user-friendly websites can help make cash registers ring.
This is the moment we’ve all been waiting for: conversions and sales! It’s what advertising is all about. The most sophisticated targeting and tracking capabilities work well in this phase. You’ve been running ads on linear TV and streaming TV for some time now. Your potential customers are well-educated about your business and what you have to offer. It’s time to reach them when they need you.
Ads in this low part of the funnel need to target demographics and behaviors, and retarget those who interact with ads they receive. TV ads that include QR codes, online videos that target “in-market” customers and click to creative landing pages designed to intrigue visitors, and websites optimized for an easy-to-navigate visitor experience are important. The easier it is for a potential customer to interact with your business, the more conversions your campaign will generate.
Remember, not all impressions are equal.
Simply stated by our friends at the VAB, “not all impressions are equal.” Implementing a multiscreen ad campaign across devices offers a high level of engagement and more memorability, which ultimately leads to a higher return on ad spend (ROAS). This might sound complicated, but it’s easier than you think. When you’re serving ads on multiple screens, it’s important to remember you're targeting an audience, not a platform.
Optimum Media’s advertising professionals are well-versed in the latest industry and local market insights, various types of ad placements, and an array of sophisticated targeting capabilities. We can help you determine what your ideal audience looks like, then build a customized campaign that reaches them where they are, on the various screens they use to consume media. The audience is the same across multiple devices and platforms, and your goal is to reach them with the same message multiple times, achieving the frequency it takes to make your message memorable.
