What is Marketing Funnel Framework and How is it Different from RACE?

What is Marketing Funnel Framework and How is it Different from RACE?

When it comes to marketing, you need to develop efficient plans and ensure success with the correct digital strategy frameworks. But before creating a plan of action, one should know their market audience.                           

Knowing your audience properly can help your digital marketing agency Virginia consultants create an accurate customer journey map. Because of this, it’s wise to gather information from surveys and social network analysis to develop buyer personas that correctly depict your target market. A profile can help you identify the social media sites you should be using, the sorts of marketing communications you should be sending out, and the best ways to enhance customer service and boost the possibility of a sale.

Once you have your customer persona developed, consider the requirements of the audience. This influences the strategies you use for each phase in the framework for a digital strategy. Brand launch emails for people who are considering buying, SEO for those who are only exploring their alternatives, etc. To determine if you successfully satisfy your audience’s demands, evaluate each method.

Next comes the marketing framework that you need to put in place. Have a well-defined framework. Each phase in the marketing framework defines the duties of a marketer. For teams working on online promotions to be on the same page even when they are concentrating on various facets of the plan, the structure you must have must be just like this, simple to follow and highly transportable.

What is Marketing Funnel?

One of the most popular digital strategy frameworks, it illustrates the path customers travel while engaging with your business, from learning about your goods and services to making a purchase. There are four stages in the marketing funnel:

Awareness. This occurs when a prospective consumer views a social media post or banner advertisement or learns about your company via an influencer or a friend.

Interest. A potential consumer is intrigued by your brand and is exploring other websites or reading reviews to find more information.

Consideration. A prospective buyer recognizes their issue and your company as the remedy.

Action. The potential client decides, purchases a product, or schedules a meeting with you.

These stages are pretty easy to track in an e-commerce platform. A potential consumer enters your website (recognition), clicks on an item and reads the description (desire), adds something to their shopping basket (consideration), and then completes the purchase (action).

What is its purpose?

While RACE Planning highlights your important digital marketing action points, the Marketing Funnel may assist small business IT solutions in summarizing the customer journey and, as a result, discovering conversion barriers. This provides information for your framework for planning digital marketing, allowing you to highlight chances for influencing consumers to do the required action.

You might need to send automated notifications to customers to remind them of the items in their shopping cart, for instance, if you’re only reaching fewer than half of the individuals who put the thing in their basket. This is a chance that could provide you with the outcomes you want.

Create your action plans for each level using the funnel:

Awareness: Regularly discuss the issue that your goods and services are meant to address. Inform them that choosing your brand would make it simple for them to resolve their issue. Be visible on your target audience’s social media networks, comparable to the Reach in RACE. Invest more heavily in PPC and SEO. People frequently use Google as their first online resource when seeking a solution. You better be among the top results if someone searches for your brand. Use these fundamental frameworks for website evaluation in your evaluation.

Interest:  By becoming the most knowledgeable source of information about their particular issues, you may help your consumers learn more about you. When you appear higher in search results for terms associated with your business, and when you have a big following on social media, these are two signals that you’ve captured their attention.

Consideration: Give prospective clients greater justification for doing business with you. The fact is that you’re probably not the first company to operate in your industry. Why would they pick you above other people? They’ll be more inclined to think about doing business with you if you can highlight your USP.

Action:  Make shopping enjoyable and appealing. At the checkout, give discounts. Inform them that supplies are dwindling fast. Make sure that paying is quick and only requires a button click.