A funnel exploration focuses on analyzing the customer journey, tracking how potential customers move through various stages of interaction with your brand until they convert (or don’t). If Sasikumar is discussing customer journeys, his perspective might align with understanding the funnel as a key framework.
Here’s an exploration of the customer journey funnel:
Stages of the Customer Journey Funnel
Awareness (Top of the Funnel – TOFU)
Customers first learn about your brand or product.
Tactics: Social media marketing, SEO, blog posts, ads.
Metrics: Impressions, reach, organic traffic.
Interest
Customers express interest and seek more information.
Tactics: Email sign-ups, webinars, informative content.
Metrics: Website sessions, click-through rates.
Consideration (Middle of the Funnel – MOFU)
Customers evaluate your offerings against competitors.
Tactics: Case studies, testimonials, free trials, comparisons.
Metrics: Leads generated, engagement rates.
Intent
Customers signal their intent to buy (adding items to carts, downloading pricing information).
Tactics: Personalized emails, limited-time offers, live chats.
Metrics: Add-to-cart rates, demo requests.
Decision (Bottom of the Funnel – BOFU)
Customers make a purchase decision.
Tactics: Discounts, seamless checkout processes, strong CTAs.
Metrics: Conversion rates, average order value.
Retention
Customers are engaged post-purchase to encourage loyalty.
Tactics: Loyalty programs, exclusive offers, personalized content.
Metrics: Repeat purchase rates, customer lifetime value (CLV).
Advocacy
Satisfied customers advocate for your brand.
Tactics: Referral programs, incentives for reviews.
Metrics: Net Promoter Score (NPS), referrals.
Key Metrics for Funnel Exploration
Drop-Off Rates: Analyze where customers exit the funnel.
Time in Funnel: Evaluate how long customers spend at each stage.
Conversion Rates by Stage: Measure how effectively customers progress.
Advanced Funnel Strategies
Behavioral Analytics: Tools like Google Analytics and Hotjar can visualize user interactions and bottlenecks.
Personalized Marketing: Dynamic ads and email workflows for tailored journeys.
Automation: Use CRM software like HubSpot or Salesforce to manage the journey efficiently.