Every company needs marketing and these days, it’s almost entirely digital. So dear readers, this week we are going to bring some expert led Digital Marketing topics in our Digital Marketers Week. Today, the 1st part of this series will speak on the New Digital Marketing Funnel.
Adapting to modern trends and shedding the weaknesses of the traditional marketing funnel, this next evolution digital marketing funnel model has an HD view of the customer journey. We’re going to first seean infographic of the funnel and then build a new type of funnel with the help of Google Analytics.
1. The Modern Marketing Funnel [Infographic]
We can divide that funnel into three sections:
- Top of the funnel
- Middle of the funnel
- Bottom of the funnel
We’re going to use your Google Analytics results to help build a funnel that works for your business. You’ll need to ensure that these items are in place:
- Email URL tracking
- Social network tracking
- Display tags, in addition to tags for the items below
- Referral links
- Paid search campaigns
The Top of Your Funnel
- The top portion of the digital marketing funnel represents the first interactions your customers have with your brand. The most common ones are organic search results, but your mileage may vary.
- The first step is to determine which channels people are using to discover your content. To find out, go to Content > Site Content > Landing Pages. Export the data to excel, then pivot it to see which interactions are bringing the most traffic to your site.
- Now that we’ve identified the medium, we need to find out how much that channel is contributing to conversions.
- In the middle of the funnel, potential leads are moving forward from a first interaction toward a sale—or possibly a subsequent sale, depending on their experience with your brand thus far.
- The part of the funnel doesn’t focus on first or last-clicks, but instead looks broadly at the channels to see which ones are driving the most conversions, regardless of their place in the funnel.
- The next step is downloading the first and last-touch interactions via the Top Conversion Paths report in your Google Analytics.
When you download those into Excel, you’ll find that you have two columns:
- Conversion Value
You can add additional columns to better organize the data. Here are some suggestions:
- First touch
- Last touch
- All Middle
- Steps in Conversion Path
- Deciding the thresholds involves looking at your conversions and eliminating the ones that are below the value you typically track. Paths with fewer steps are also better to focus on than ones that take more input from the user.
- Once you’ve made your determination, use the pivot table to pull the data into a “common middle” sheet.
- Ultimately, what you’re looking at here is how your leads are interacting with your site once they enter it via the channels you identified earlier in the funnel.
Now we move to the bottom and close the sale.
The Bottom of the Funnel
- The final touch before someone makes a purchase is located at the bottom of the funnel. These channels are of the utmost importance because they allow you to build your strategy from the bottom up.
- The final-touch data can be found by going to Conversion > Attribution > Model Comparison Tool.
In a well-developed digital marketing strategy, you are building a marketing ecosystem, not a marketing funnel. Each component of your strategy needs to interact with the others, and above all, everything must be digitally tracked.