growth marketers

Why Is Multi Funnel Marketing Important for Growth Marketers?

To stay one step ahead of the competition, marketers have been developing new models for decades. Many marketing models, from AIDA and DAGMAR to Moment of Truth and ATRN, have emerged in the past. Today, multi-funnel marketing is the companion of businesses that consider growth as their pole star.

With the flow of information and exposure of consumers to different products, brands and services, customers’ decision-making processes are undergoing change daily. In parallel with this change, marketing teams are also developing new strategies to better understand the customer journey and decision-making process.

Why Multi Funnel Marketing Is the Only Option

Gone are the dark ages when marketers pushed their products and services to potential customers. Today’s changing customer journey requires an end-to-end, holistic approach that focuses not only on the bottom stage of the funnel but the whole funnel.

Digital marketers must now be concerned with how they sell to their customers, not only what they are selling. With this kind of industry, the multi-funnel marketing approach of growth marketing becomes more important than ever before.

Because today, it has been realized that growth cannot be considered independently of sustainability. This is not only in terms of environmental factors, but can also be the case in terms of business model.

For example, you converted your website visitors into leads and then turned them into happy customers. Well, how sustainable can your growth be if you don’t retain this happy customer and create the right marketing channels to upsell, retain or encourage them to become a brand advocate?

Growth marketers’ answer to this question is clear. Therefore, a multi funnel strategy that covers the customer journey with a holistic approach is essential for growth marketing.

What Is a Growth Funnel?

A growth funnel (or sales funnel) is the set of phases that a potential customer goes through when making a purchase.

So a funnel’s architecture depends on the goals of your business strategy and the actions you want your visitors to take.

The customer journey is indeed a funnel, because in the process from the top to the bottom of the funnel, your visitors or leads either become customers or leave the process, so the pool gets smaller and smaller.

The growth funnel is vital for growth marketers: if you don’t know which stage people are in on their journey and how they flow through this funnel, you may use the wrong tactic. For example, if you come up with a concept that describes the features of your product to a buyer who is already at the purchasing stage, you will fail to meet their needs.

So now let’s dive into these funnel stages.

growth funnel

Top of the Funnel (TOFU)

The Top of the Funnel is the awareness phase of a potential customer. At this stage,  you are trying to reach and attract your potential customers through search engine optimization, content marketing, social bookmarking, social media marketing, paid media channels, and website traffic.

So you should have a strategy that focuses on the pain points of potential customers. Why is this important? Because when they reach for a solution to their needs something, you want to be that solution.

At this stage, there are no customers or even leads. There are only anonymous visitors who get to know your brand. You can create brand awareness with an SEO-friendly strategy when your potential customers are doing research.

Middle of the Funnel (MOFU)

Now we’re scrolling down the funnel to the consideration phase. You no longer have anonymous people–you have leads who leave their contact information, sign up for your newsletters, follow you on social media, or who knows, maybe become brand advocates.

This is the stage where you should engage and convert leads into customers, so you need solid CRO (Conversion Rate Optimization) management to convert people while searching for answers. Walk side by side with buyers through forms, pop-ups, and chat flows to convert them.

Don’t forget to generate captivating calls to action (CTAs). It’s about so much more than just lead generation. CTAs give website traffic a roadmap.

They provide direction as your buyers navigate their buying journey. If you don’t use them right, site traffic will get lost and bounce off your page.

Bottom of the Funnel (BOFU)

Isn’t it time to nurture and close your ideal customers? At this point in the funnel, you have touched the pain points of customers. You should close your lead with personalised outlined prices or discounts by suggesting demos, free trials, and more. 

You can get effective results by taking advantage of push notifications and email marketing. Besides, through lead scoring, you can gauge a prospect’s buying likelihood. By assigning scores to leads based on their demographic information and their behaviour on your website or landing pages, your sales team can differentiate qualified and unqualified leads easily.

These actions can also shorten the sales cycle. One of the most important effects of this phase is that after creating happy and loyal customers, they leave feedback and comments on different platforms. This allows similar leads to see these comments and become new customers.

The Difference Between B2C and B2B Growth Funnels

Growth funnels may change depending on your customer base.

●  B2C customers generally navigate the funnel alone or with trusted advisors like family and friends. B2C clients may never interact directly with a company representative. Here’s how a B2C customer journey goes:

Sample B2C Growth Funnel

b2c funnel strategy

●  On the other hand, B2B consumers communicate with sales teams at the bottom stages of the growth funnel. Adapting your funnel to address your personas’ needs instantly makes it more effective. Here’s how a B2B customer journey goes:

Sample B2B Growth Funnel

b2b sales funnel

Funnel-Based Growth Metrics

As growth marketers have a data driven and iterative approach, tracking growth metrics is like breathing for us. Naturally, the metrics to be tracked at every funnel are different. So which metric corresponds to which stage?

Let’s take a closer look at funnel-based growth metrics:

Top of the Funnel (TOFU)

●  Impressions (social, website)

●  Visitors ( direct, social, organic, paid, referral)

●  Reach (social media reach, remarketing audience)

●  Engagement (backlinks, social media engagement, brand mentions, reviews)

●  CTR ( social, paid, paid social, paid search, display, affiliate)

Middle of the Funnel (MOFU)

●  Attribution (source-based conversion rate, conversion number, conversion value, ROAS)

●  Landing page performance

●  Engaged audience growth

Bottom of the Funnel (BOFU)

●  Source-based lead quality

●  Potential sales volume

●  Closed sales volume

●  ROI

Growth Marketers: One Step Ahead!

Multi-funnel marketing enables you to track where you are losing potential customers and provides insights so you can alter your marketing strategy accordingly. At later stages, you will be able to see the complete customer journey, such as how many visitors become leads, and from there, how many leads are qualified- until they become customers.

In our age, where focusing on the customer journey has become a necessity, it is no surprise that growth marketers focused on multi-funnel marketing are one step ahead and running at full speed for sustainable growth.