In a business, marketing strategy is important. Good marketing can improve the results in selling products and services. In this case, it is important to monitor and evaluate the marketing and sales. It is necessary to know the success rate of the efforts. The evaluation and analyses can determine whether the strategy is effective or not. Normally, it will be more accurate to make run the monitoring and evaluation process by using the KPI or Key Performance Indicator. This will be effective when it is combined with the funnel metrics. The metrics can show the journey of buyers or customers before they make the decision.
The funnel metrics are a concept in marketing. It helps businessmen and salespeople to see the journey of customers in buying a product or service. The metrics are called a funnel since the journey will trickle down as the journey reaches the end. The end is of course the action of the customer to buy the product. By using the metrics, it is possible to analyze the behaviors of customers. Through the analyses in each part of the metrics, salespeople can know what they should optimize and develop so the sales can be more effective and more products can be sold. In this case, the metrics are divided into some parts.
The first part or first journey is awareness. This is part of the journey that will show buyers’ awareness of the products and services. Buyers’ awareness can come from ads, the contents of social media, and other methods of marketing. In this case, a marketing strategy can be considered good when it can create greater brand awareness among the buyers and it is still the first layer. The second layer is interesting. Once the buyers are aware of products or services, they can be interested in the products. In other words, it starts from the process of knowing the product, and later it is important to make the buyers interested in the products or services. In both of these steps, buyers are still not buyers. They are still prospects and it is important to lead them to the next phase.
The next phase is a decision. After the buyers know the brand and start to dig more information, it can lead to a decision whether they want to make purchases or not. In this phase, they have become candidates of buyers. There are many factors that affect the decision. It can be about prices, features and quality of products or services, and even other details. Services offered by the brand are also important to affect the decision. When the prospects have made a decision, then they can lead to the next phase. It is the action. It is clear that the expected action is to buy or purchase the products or services. However, it is not totally easy to lead the prospects from the stage of decision to action.
Each stage or phase of the funnel metrics is important. Each of them is an important part of the whole process. By knowing the metrics, it is important to formulate a proper strategy in which each stage or phase can get special attention. It should start with a strong impression to create brand awareness and interest. After that, it is important to create decisions that later makes the prospects buy the products or services.