With people making decisions quickly, having competition, and little time to get their attention, getting that conversion is increasingly difficult. Therefore, it's critical that your marketing budget is appropriately spent, ensuring that your marketing campaign attracts and retains, and converts potential clients.
Videos are now a very important part of everyone's daily lives. And even big businesses and brands leverage video marketing to reach out to their customers through various channels or platforms. Marketing strategies that do not include a video will be a big FOMO for businesses and brands.
That being said, with rising platforms, including social media, you would need to know your customer's journey to grow your business. In short, you need to know about your customer's journey.
In this blog, I have shared my knowledge of video marketing funnels and the different stages of a video marketing funnel.
What exactly is a marketing funnel?
A funnel is typically wide at the top and narrows at the bottom. It is used to guide liquid or another substance into a small hole.
A marketing funnel operates in a similar way as funnels. In marketing or sales, a funnel is a tool that directs a customer through the entire buying process.
It leads to the flood of customers into the funnel. Only a small percentage of them purchase your product or service at the other end. You may begin with a thousand leads at the top and gradually reduce the quantity until you have only ten consumers at the bottom.
Let me give you an example.
You find an Instagram post on Netflix that shows clips or scenes of a new series. Now that you find the post interesting, you check out the trailer on Youtube or even go to the Netflix homepage.
You see the Netflix homepage that tells you about the offers, if available, the benefits, the features, etc. And you might now have developed trust for what Netflix offers for you. Furthermore, you check out the FAQs to get all your doubts cleared.
Then you go ahead to choose the plan. Netflix offers a clean and simple user interface, which guides you through all the available options. You sign in and make the payment.
This, in short, is Netflix's marketing funnel.
Four steps of a marketing funnel
The four steps of a marketing funnel are as follows:
When your prospects become aware of a problem, they start looking into it. If you are a new brand or business, you can start by making people aware of your business through social media posts, videos, etc.
Explainer videos are a great way to introduce your business to the world, as they can explain your product or service better to the audience. You can highlight the problem the audience is facing to make them aware of their problems and present your product or service as the solution.
Once your prospects clearly understand the issue, they evaluate the many options available to them for resolving it. There are many competitors in the market, and what matters is that your product or service stands out.
You can use videos to engage the audience and keep them informed about updates, even if they are not buying your product. This helps you build brand identity.
Your prospects have, at this point, decided to purchase your product. This is where you should assure them that your customer buying the product is the best decision.
Make it crystal clear to your potential clients why buying your product or investing in your service is a good idea. You can highlight why your product should be chosen and why it is different from other competitors in the market.
Free trials of your service can lead to purchases if your customers are not considering purchasing at this stage. An initial trial gives potential customers a taste of what you do but should make them want more.
Loyalty and advocacy
Acquiring the trust of your customers is the next stage. The process does not stop with the initial purchase. The goal of your whole content marketing strategy should be to attract and retain customers or clients.
Reward your audience with exclusive offers or sneak peeks at upcoming items and services. Customers who aren't repeated purchasers can nonetheless even have an impact on the people they know by word of mouth or through social media.
What is a video marketing funnel?
A video marketing funnel resembles a content marketing funnel in form. In reality, it is a funnel within a funnel for content marketing.
The funnel will lead your target audience through the buyer's journey. It is designed to use videos at every stage of the buying process to attract, educate, convert, and keep customers.
What are the stages of video marketing funnels?
Video marketing funnels can do more to push your marketing messaging than other types of content.
Video is considerably more engaging than words and graphics in presenting your offer, whether your product is a video membership, subscription site, or eCommerce store. People's reactions to well-structured videos can lead to improved results for your company since they absorb more visual information and experience altered emotional states through sound.
Videos can help you connect with your customers more than any other medium. They are fascinating and engaging. Video marketing has a high return on investment, and it aids in lead creation, traffic growth, and ultimately sales.
Many marketers are not familiar with video marketing funnels. So, let's take a look at what each stage of a video marketing funnel should include.
In simple terms, ToFu means content on top of the funnel. Videos have risen to become an absolutely essential tool for attracting consumers at the top of the conversion funnel.
When you develop content that addresses a specific problem or challenge that your consumer is experiencing, you are at the top of your marketing funnel. The goal of content at the top of the funnel is to entice buyers at the beginning of their buying journey.
The number of video views and the level of engagement should be your major metrics at the beginning of your funnel. In general, the more views and engagement you receive, the more probable it is that your message will reach a greater number of people in your target demographic.
Bottom of the funnel videos is created to convert audiences who are ready to commit. Your target customer has a comprehensive understanding of the problems and challenges they are experiencing at this point in the buyer's journey. They are aware of your solution and your competitors and are evaluating their available options.
It is your responsibility to assist buyers in overcoming any residual objections they may have to your solution at the bottom of your funnel.
You should consider conversions as your most essential key performance indicators (KPIs), whether in the form of signups, leads, or sales.
Summing it up
Video marketing is one of the most trending and unavoidable strategies for your business in today's world. New ideas for attracting new clients and keeping existing ones are easier to come up with after establishing a funnel. It's easier for buyers to progress through your sales funnel if you include videos.
I hope this blog has helped you figure out what you need to build your business video marketing strategy. If you are still stuck and don't know where to start, feel free to contact us!