Conversion Marketing across Consumer Funnel Stages

Leads which are generated in the consumer funnel (see REAN Marketing Engagement Framework in Chapter 1) need to be gradually taken to the action level for the marketer to complete the purchase cycle. Activities performed at each of the funnel stages to take the consumer forward include ‘Conversion’ for that particular stage. Let us look at some of the typical conversion-marketing activities which are carried out for key funnel stages.

1. Conversion marketing for INTENT and AWARENESS stages: This is the stage where the potential target segments express their needs and marketers share branding material, webinars, blog articles to convert visitors for the next stage. Key conversion stages and the marketing strategies deployed include:
   • Name: It refers to the inclusion of the name of an individual in the database. Companies utilize techniques like an online enquiry form, a webinar registration, whitepaper download, etc., to obtain individual names for further conversion.
   • Engaged: In this stage, individuals are engaged with the firm/brand and marketers are expected to send e-mails and communicate with them over time. Conversion techniques include direct marketing areas like sending e-mails, mobile SMS, etc.
   • Target: Once the select group of individuals are engaged, companies can use a lead scoring system (one that helps understand quality leads through a scoring mechanism) to assess whether they are qualified potential buyers (which includes the individual fitting the brand’s demographic and behavioral data).
2. Conversion marketing for INTEREST stage: Once a potential visitor becomes a target or prospect for the firm and has displayed traits like making enquiries of the product or engaging with content, marketers can move forward to convert such interested targets to a lead. Marketo shares two sub-stages here:
   • Lead: This is the stage where a potential target or prospect converts to a lead. Key conversion techniques qualifying a target as a lead include:
     • Visit to the sales web page of the company’s product site
     • Selecting the product and placing it in a cart on an e-commerce site
     • Targets who have visited an affiliate site for a coupon or price comparison
     • Prospects who have initiated a direct interaction/chat to enquire more about the product
     • Targets who have taken part in a ‘for-sale’ promotion on the social media page of the brand
   • Sales lead: In this stage, once the list of leads has been confirmed, sales or marketing automation tools automatically take over to convert the lead into a purchase. Leads at this stage are known as sales leads. When a lead converts to a sales lead, the account executives are given a specific period of time within which they have to convert them into customers.
3. Conversion marketing for ACTION and FOLLOW stages: This stage involves conversion of sales leads to final customers who purchase a product. This is successively followed up with actions geared towards converting the loyal buyer to future follower. There are two key conversion sub-stages here:
   • Opportunity: It involves techniques by which the sales team or automated marketing tools are deployed to convert the sales leads into real opportunities that can develop a customer. Typical conversion strategies at this stage include:
     • Retargeting through branded online advertisements on products which a customer had already selected in a cart or had visited the web page
     • Sending targeted e-mails for conversion with specific timed promotions
     • Responding to sales queries and making outbound sales calls to help the lead move forward along purchase cycle
   • Customer: This is the stage where leads finally purchase a product and become a customer in the database.

Along with an understanding of lead generation and conversion marketing, it is important to also go through the concepts of lead nurturing and lead scoring to appreciate the efforts marketers need to put to create desired results.