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Video Transcript:
Have you ever heard of the term … marketing funnel?
it’s important you understand the concept of a marketing funnel if you are to understand the buying cycle.
Whenever we talk to local business owners everyone wants instant results. If I give you some money today, can you turn on this magic tap and have instant results such as new customers flowing into my business?
But if you think about it – every person is in a different sector of the buying cycle and hence, a different part of your marketing funnel.
Stage #1 – Recognising They Have A Want Or A Need
Stage #2 – Searching For Solutions To Satisfy Your Want or Need
Stage #3 – Creating A Shortlist Of Solutions
so again they just need a bed for the 5 nights.
Stage #4 – Finding The Businesses That Fulfill The Solution
Stage #5 – Making The Purchase
It is only at stage #5 that the potential customer even considered getting their credit or debit card out to make that purchase. Throughout all of the other stages they were only seeking information but the problem is that any local business owners seem to forget this and miss such a massive opportunity to add potential customers who are at the early stages to their marketing funnel.
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