What is a marketing and sales funnel?
Most people think sales and marketing are synonymous. I disagree and this is why. I will use the business development flowchart above to justify my position. Please study it to understand the connectivity of marketing and sales functions.
The value creation process starts with marketing. The process of marketing looks at human behavior to ascertain their demography, social characteristics, where they are, where they go to, how they spend their time, at home and while relaxing, where they spend their time, etc.
Marketing creates the “scene” that generates audience and attention. It also creates the message to keep the audience captive and engaged to the extent of taking a planned action. The planned or premeditated action to be taken by the captive audience is what the message is all about. This is the reason behind the magnitude of effort marketing puts in generating the message and scene which in turn, creates the audience that will listen and comprehend the message in the scene.
The action prescribed in the message is for the purpose of value exchange for both the marketer and the qualified audience, in the chart, referred to as marketing qualified lead (MQL).
The process of creating a scene and getting attention can be described as “traffic generation”. Getting the attention of this traffic to the extent of forming an audience, I will describe as ‘traffic conversion’. Keeping this human traffic engaged to listen to the message, I will describe as “lead generation”. Any human traffic that goes through the “lead funnel” is referred to as “marketing qualified lead”, (MQL).
The lead funnel is where the message for the “scene” is delivered by the marketer. The message usually is about a “promise” (value) that will be derived when the action of purchase and use of a product or service, in a prescribe step, is taken by this marketing qualified lead, (potential customer). In the lead funnel is where the demos, corporate or product presentations are made.
After the point of generating marketing qualified lead is where sales function starts. Usually it commences with a sales pitch, need analysis, sales presentation, proposals, etc., where the deals, terms and conditions are presented by the seller. This usually leads to a purchase and creation of a customer. This is where you have case management, project management. These are the processes make up what I call “sales funnel’.
Feedback on user experience is usually demanded by the marketer so as to develop customized message based of this feedback. This feedback also generate concerns on how to better customer experience, so as to win repeat purchases or sales. Marketing and Selling then continues.
Do you agree with my position?
5 thoughts on “Function of Marketing & Sales Funnels”
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