What is the Marketing Funnel? And Where Does PR Fit in it?
If you’ve been in any marketing or growth meetings, chances are you’ve heard the words “marketing funnel.” It may come across like MBA lingo, but the truth is, understanding the funnel--and how it has evolved as we consume information and make purchases differently now than we used to--can make you not only a more informed marketer but also make your company’s efforts more innovative and more results-driven.
And for our purposes, when our teams work holistically with marketing, sales, and the C-suite, where does PR fit in?
What is the marketing funnel?
At its most simplified, we look at the funnel as the journey from gaining awareness of a company/product, all the way to purchase (and nowadays, hopefully becoming a loyalist/evangelist):
Top of the funnel: Building awareness. Think advertising, influencer programs, sponsorships, mass media. PR fits in nicely here, as well as in the middle of the funnel--here, think a brand announcement or a hero product launch. Utilizing earned media can push nascent customers down the funnel, while creating authority and trust for a company via third party, neutral media sources.
Middle of the funnel: Driving evaluation/interest. At this stage, future customers are more engaged with the brand, have a general sense of who you are and why you exist, and may dig in more before deciding to make a purchase. This is where much of digital campaigns sit, many brand-owned channels activate the customer journey here (social media, sponsored content, branded content), and PR/editorial can also sit here--essentially, you’re reaching folks who may be primed for interest (think, the readers of a highly targeted newsletter or industry-specific magazine) but need an additional push. As you can see, some of these tactics can exist across a few different parts of the funnel.
Bottom of the funnel: Conversion + retention. This is where things start to get interesting--your content (think digital, social media, email targeting, SEO, shelf placement) can *both* drive purchase, and more importantly, delight customers to stay onboard. Engage, engage, engage.
How has the marketing funnel evolved?
The truth is, the marketing funnel can be incredibly simplified--as we’ve shown above--or can have a subset of stages. But where it has really changed over the years is that with the evolution of digital marketing, creative campaigns, and editorial/affiliate PR, to name a few, the stages have become much more fluid--outside of your smallest viable audience, chances are, many of the marketing strategies may reach customers in a different stage of the journey.
Ultimately, it is not just about conversion--but more importantly, retention. PR and marketing campaigns can be harnessed to encourage fandom and brand evangelism by creating community, rewarding/delighting customers, and, as we said above, engaging, engaging, engaging.
Curious to learn more about how you can implement the funnel--and strategic PR tactics--to build greater conversion and more efficient, authentic engagement? Email us at hello@thejamescollective.com to set up a time.