– The traditional funnel system in marketing, consisting of top, middle, and bottom stages, is no longer effective due to the increasing number of products and brands.
– Facebook and other ad networks have lost the ability to track user behavior extensively, leading to a need for a different approach in advertising.
– The new model requires focusing on high-intent shoppers, optimizing touchpoints throughout the customer journey, collecting and leveraging data, and creating personalized experiences.Implement a data collection strategy and optimization strategy to improve the customer journey and maximize touchpoints throughout the funnel.Let’s talk about the Top of Funnel, Middle of Funnel, Bottom of Funnel, and how none of them make sense anymore. And why today, as I write this, there’s a good chance you’re wasting a ton of money. The idea of a funnel system has been imprinted into the customer journey and marketing for a long time. You pick a goal, you drive traffic, and then you retarget that traffic to drive conversion. The idea was that you’d have different messages for different audiences based on where they were in the buying journey. Previously, advertising back in the day was just being in the right place and the right time and using emotional language to create a sale. As the number of products has massively expanded and more brands exist than at any time prior in history, that approach had to become more sophisticated. Also, because the companies building ad networks for the digital age have sold you on that being the case. Let’s be honest with each other, Facebook and Google know more about you than you think, they just can’t use it anymore. Prior to iOS14, Facebook and other companies could track your behavior all over the web. Now, of the iOS crowd, nearly 85%+ have opted out of allowing this. When they had control, it was almost as if they were reading your mind. Without this though, your approach needs to change. The focus needs to be on a different kind of funnel, maximizing the click-through rate from people that see your ads, maximizing the sign-ups and data collection from those that come to your landing page, then maximizing the conversion rate of those that sign up by retargeting them leveraging their emails and data collected, then following through on a great experience. This is the model that’s required. Find the highest intent shoppers that Facebook or other ad networks know of, conversion goal, then optimize the rest of the journey around them. Your only abilities are to maximize all the touchpoints throughout the journey to improve them all around. This starts with knowing those visitors, collecting data, leveraging that data against revenue capture, and building models and experiences that are designed to relate to those real-life personas that you’re creating. There aren’t any more shortcuts. You need a data collection strategy and an optimization strategy to drive improvement here, rather than changing a million pieces of creative in hopes of hitting a few home runs. Work smarter, not harder. Once you have a good baseline and know what works backed by data, then you can work harder because you’re already working smarter. Confused? Not sure what any of this means quite yet? I’m here for you, ask away.#marketing #ecommerce #strategyhttps://www.linkedin.com/in/jivanco