How often do you migrate from one strategy to the next when you deal with digital marketing? Innovation drives today's business, where customers shift channels of purchase to make the most of their bucks.
The digitized business ecosystem has flung open a multiplicity of options before the contemporary buyer to optimize the choice. While marketing has reached new zeniths of competition, especially among generic firms, customers have maintained the loyalty-price compatibility balance when it comes to purchasing a product. With more purchase alternatives at hands, customers browse through the cyber world to economize their purchases.
The parameters of successful marketing have also evolved in the digitized world. It is time to assess the evolution that the marketing funnel has undergone.
Awareness: Marketing, at its outset, focuses on awareness. A dynamic entrepreneur counts on social media pages, e-mail marketing and online shopping portals. Data analytics technologies have enabled them to narrow down upon the choices of the customers. Evidently, a present-day customer finds the Facebook page flooding with relevant advertisements, all relevant and tailored to his choice. Awareness has been at par with the changing trends, and markers have heavily utilized new technical tricks to boost the trade.
Familiarity: Well, how many product pages did you 'like' on Facebook last week?
Even startups have displayed shimmering growth rates when you consider familiarity of the customers with the goods. If you are passionate about electronics, be honest to state whether you feel the pulse when you find new smartphones, tablets and other electronic gadgets in the market. Social media pages, advertisements on internet pages and interactions through groups have made this process easier.
Consideration: Companies have been engaged in virtual wars, considering the degree of advertisement and competition. Which brand comes to your mind when you think of purple? Or which tagline created the rhythmic melody in your mind, which you couldn't help murmuring unconsciously? USP's may be different, but in the end, the goal of every brand is to create an extensive client base. Customers consider the strategic edges of each of the brands, that surface in the logos, taglines and slogans of different companies through online advertisements.
Purchase: This is a pivotal aspect for any business, and starting from this point, entrepreneurs focus on reputation management and customer retention. The parameters of purchase have increased in the digitized business the newcomers being availability, timeliness, return and exchange of goods and so on. When was the last time you purchased an unwarranted good and managed to get it exchanged, considering the quality?
Loyalty: Loyalty from customers is an undoubtedly an asset for any brand, irrespective of its category and size. Today's brand loyalty rests not only the call of heritage or commodifying the emotions, it depends on whether the company is consistent in delivering the goods or not. Stock-offs have landed thousands of companies in obscurity. Thus, loyalty has its roots in the way the company makes its goods available to the customers.
The marketing funnel has changed for the good, both from the customers' and the company's ends. While competition has gone down the wire for the companies, customers have benefitted with the best grades of goods. In a nutshell, the companies have adopted a strategy of guiding a customer to make the right decision, rather than pulling them down the funnel.
Source by Rishi Biswas