Funnels Archives - MarketMasters Consulting https://MarketMasters Consulting .com/glossary-tags/funnels/ MarketMasters Consulting Marketing Agency Tue, 09 Jul 2024 16:02:06 +0000 en-US hourly 1 https://MarketMasters Consulting .com/wp-content/uploads/2017/04/greenfavicon-50x50.png Funnels Archives - MarketMasters Consulting https://MarketMasters Consulting .com/glossary-tags/funnels/ 32 32 BOFU (Bottom-of-Funnel) https://MarketMasters Consulting .com/glossary/bofu/ Theodore Moulos]]> Mon, 10 May 2021 22:04:16 +0000 https://MarketMasters Consulting .com/?post_type=glossary&p=71636 BOFU (BOttom of FUnnel) is the last stage(s) of your funnel that is creating Sales.

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What is BOFU?

BOFU (BOttom of FUnnel) is the last stage(s) of your funnel that is creating Sales.

BOFU’s goal is to convert prospects to leads and close. Thus leads can now make an informed purchase decision. Also, to delight customers on the decision they made

Other stages are: MOFU and TOFU

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Content https://MarketMasters Consulting .com/glossary/content/ Theodore Moulos]]> Mon, 10 May 2021 22:53:16 +0000 https://MarketMasters Consulting .com/?post_type=glossary&p=71654 By content, we mean all kinds of content we can produce.

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What is content?

By content, we mean all kinds of content we can produce.
Content can be used across your funnel’s stages but not for all stages the same. Make a step back and think! What your prospect would like to consume to move down your funnel. Then prepare and serve that and only that.

Examples are:

Web Pages
Power Pages
Blog posts
Social Media
Infographics
Podcasts
ebook(s)
Microsite(s)
Educational Resources
Quizzes / Surveys
Useful resources
Downloads
Webinars / Events
Feature Demos
Discount Coupons
Playbooks
Cheatsheets
Checklists
Loyalty clubs
Success Stories
Price Comparison
Specifications Sheets
On-boarding demos
Refer-a-friend concepts
FOMO concepts – time-based

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CQL (Conversational Qualify Leads) https://MarketMasters Consulting .com/glossary/cql-conversational-qualify-leads/ Theodore Moulos]]> Sun, 11 Apr 2021 17:47:51 +0000 https://MarketMasters Consulting .com/?post_type=glossary&p=71271 We talked to them: They told us why they are interested in buying and what they’re trying to accomplish with our product

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What CQL means?

We talked to them: They told us why they are interested in buying and what they’re trying to accomplish with our product.

As a stage of our funnel it’s even before SQLs (Sales Qualified Leads) and sometimes even before  MQLs (Marketing Qualified Leads)

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Customer Attrition https://MarketMasters Consulting .com/glossary/customer-attrition/ Theodore Moulos]]> Tue, 09 Jul 2024 16:02:05 +0000 https://MarketMasters Consulting .com/?post_type=glossary&p=84316 Customer attrition, also known as customer churn, refers to the loss of customers over a period of time.

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What is Customer Attrition?

Customer attrition is the loss of clients or customers. It is commonly presented as a percentage over a period of time. This metric is critical when measuring a company’s performance. Customer attrition is also commonly known as customer turnover, customer churn, or customer defection

What’s the connection between Customer Attrition and Customer Retention?

Customer attrition and customer retention are two sides of the same coin. Customer attrition, refers to the loss of customers, while customer retention focuses on keeping existing customers and ensuring their continued business. Effectively managing customer retention can reduce customer attrition, as strategies aimed at retaining customers—such as improving customer satisfaction, offering loyalty programs, and providing excellent customer service—help prevent customers from leaving. In essence, reducing attrition and increasing retention are both crucial for maintaining and growing a company’s customer base.

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Customer Churn https://MarketMasters Consulting .com/glossary/customer-churn/ Theodore Moulos]]> Tue, 09 Jul 2024 15:55:43 +0000 https://MarketMasters Consulting .com/?post_type=glossary&p=84314 Customer churn refers to the rate at which customers stop doing business with a company over a specific period of time.

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Customer churn refers to the rate at which customers stop doing business with a company over a specific period of time.

What is customer churn, and how is it calculated?

It’s one of the twelve crucial growth metrics each platform should monitor monthly. It is the rate customers stop doing business with a company over a specific period. It is typically calculated by dividing the number of customers lost during a given time frame by the number of customers at the start of that period.

What are the common causes of customer churn?

Common causes of customer churn include poor customer service, high prices, better offers from competitors, lack of product or service satisfaction, and changes in customer needs or preferences.

How can a business reduce customer churn?

A business can reduce customer churn by improving customer service, offering competitive pricing, enhancing product or service quality, personalizing customer experiences, and actively seeking and responding to customer feedback. All of the above are being addressed through the Product-led Growth Methodology.

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Events https://MarketMasters Consulting .com/glossary/events/ Theodore Moulos]]> Sun, 11 Apr 2021 16:58:17 +0000 https://MarketMasters Consulting .com/?post_type=glossary&p=71259 Events are used to track user interactions with web, mobile applications, or back-offices.

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What are the events?

Events are used to track user interactions with the web, mobile applications, or back-offices.
They were used for measuring page views.
Nowadays, an event helps you to analyze the actions that people perform in your application.

Events are the Absolute Prerequisite to building your funnel

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funnel https://MarketMasters Consulting .com/glossary/funnel/ Theodore Moulos]]> Sun, 11 Apr 2021 16:58:00 +0000 https://MarketMasters Consulting .com/?post_type=glossary&p=71262 Once you have attracted your visitors you will need to convert a Cold Audience into Buying Customers by providing them value.

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What is a funnel?

Once you have attracted your visitors you will need to convert a Cold Audience into Buying Customers by providing them value. You need to keep in mind that all your actions and your copy have the main goal to nurture your audience and drive them down the funnel. Here is a sample FSD (Funnel Stage Definition) that could work on your website:Screenshot 2021 04 11 at 8.12.04 PM

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Funnel Stages https://MarketMasters Consulting .com/glossary/funnel-stages/ Theodore Moulos]]> Mon, 10 May 2021 22:27:33 +0000 https://MarketMasters Consulting .com/?post_type=glossary&p=71646 The stages of your funnel(s) should be defined during your growth marketing strategy. At the time that you are building your Markitecture.

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What are the funnel’s stages?

The stages of your funnel(s) should be defined during your growth marketing strategy. At the time that you are building your Markitecture.

What information should I capture per stage?

You need to capture the following elements for your Funnel’s stages

A name by using also any of the terminologies that will help you remember the stage such as MQL, SQL, PQL Level 1, etc

Entry Trigger, meaning when users or prospects are entering this stage on your funnel? Here are some examples:
* Scrolling to the page by 50% 
* Checking features/benefits page
* Viewed 5 or more pages
* Viewed the “Contact us” page more than two (2) times

Credentials, what do we know about this customer entering or exiting this stage. It’s anonymous users,  email-captured, etc.

TouchPoints, which are the touchpoints that are involved in this stage? Name all touchpoints that will push users to enter this stage and those touchpoints that will push users exiting this stage

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Growth Funnel https://MarketMasters Consulting .com/glossary/growth-funnel/ Theodore Moulos]]> Wed, 28 Feb 2024 15:59:09 +0000 https://MarketMasters Consulting .com/?post_type=glossary&p=82735 The growth funnel incorporates not just the acquisition of new customers but also emphasizes retention, engagement, and referral mechanisms to fuel sustainable growth.

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What is a growth funnel?

The term “growth funnel” expands on the traditional sales funnel concept by focusing specifically on strategies and processes that aim to drive growth at each stage of the funnel. It incorporates not just the acquisition of new customers but also emphasizes retention, engagement, and referral mechanisms to fuel sustainable growth. The growth funnel is particularly relevant in digital marketing and MarketMasters Consulting contexts, where the emphasis is on rapid experimentation and scalable growth tactics.
While a traditional sales or marketing funnel might focus more on the linear path of converting a lead into a customer, a growth funnel also includes post-purchase behaviors that contribute to business growth, such as upselling, cross-selling, customer loyalty, and advocacy.

Is funnel and growth funnel synonyms?

In marketing terminology, the terms “growth funnel” and “funnel” are related but not exactly synonyms. Both concepts are part of a broader strategy to understand and enhance the customer journey.
So, while related, “funnel” and “growth funnel” are not strict synonyms. The former provides a foundational model for understanding customer acquisition, while the latter applies a more comprehensive approach to achieving business growth by optimizing every stage of the customer journey, including post-purchase engagement. You can read more on growth funnels and the role that content plays at conversions here

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