21 Jul What is a Video Marketing Funnel?
If you’ve spent any time at all lingering in the world of marketing analytics, you’ve probably heard of a marketing funnel.
You know, that handy thing that takes your customers from out in the world to making a purchase?
But hey, we’ll give you the benefit of the doubt. You might be wondering, what is a video marketing funnel? We’re glad you asked! Here’s what a video marketing funnel is, how it can bring you more conversions, and why the video part is so important.
What is a Video Marketing Funnel?
First, let’s talk about what a marketing funnel is.
Picture a funnel. It’s wide at the top and narrows at the bottom into one point so that you can pour something into a narrow hole.
A marketing funnel is the same basic premise. It takes your customer through the entire buying process, guiding them through every step to take a specific action. It attracts bigger number of prospects at the top of the funnel. After that, based on interest level, it pushes prospects down to the bottom until you’re left with qualified leads.
You want your prospects to take a specific action, right? You want them to subscribe to your email list, or make a purchase. But you need a way to make sure they take that action, even if they don’t initially realize that they want to.
A funnel is a way to make sure they wind up in the right place.
A video marketing funnel is a version of a regular marketing funnel, bringing together content marketing with a classic marketing funnel. Specifically, it’s using video marketing to tell a message and draw customers in.
How a Video Marketing Funnel Works
To understand how a marketing funnel works, you have to look at how the buyer’s journey works.
Think about what happens after you view an ad.
The ad catches your attention. You do some research on the solutions listed in the ad. You research the company. And you make a decision about whether that solution is the right choice for you.
There are other steps that can be taken in between, but the process always boils down to those four parts. And in order to get someone to the most important part (purchasing) you have to get them through the other three. This is where marketing comes in.
A lot of people take the first step. But people start to drop out as you get further along the process.
This is why a marketing funnel is called a funnel. It narrows down as you progress. That’s not a bad thing–you’re just narrowing the field to the people that are most valuable to you. But in order to get those people, you have to guide them through the process. Cue: marketing.
The Stages of a Marketing Funnel
Once you know the buyer’s journey, a marketing funnel is quite intuitive. It’s broken into five stages:
Some people skip or consolidate one or two of these stages, but it all comes out to the same process. If you’re paying attention, you’ll notice that a marketing funnel is actually a perfect mirror of the buyer’s journey.
That’s because you’re deliberately guiding the buyer’s journey with your funnel to ensure they reach the commitment phase with your company instead of your competitor.
Let’s see what happens at each stage.
The first stage is awareness.
Before a customer makes a purchase, they first need to be aware of a problem they want to solve. You won’t won’t order from Zomato (or think about Zomato) unless you’re aware that you want Zomato.
The same thing is true of any potential customer. They have to be aware that there’s a problem they want to solve.
This is where you come in.
Your marketing funnel isn’t about luck. It’s about letting people know about your product or service. This will ping the customer’s attention: you offer them free content about how their problem can be solved with a possible solution.
This is when you break out the case studies, newsletters, e-books, webinars, whitepapers, and more. You show them what your solution is and why it’s better than any of your competitors.
Once people have learned about the possible solution, they begin to take an interest.
Or rather, you actively encourage them to take an interest in it.
Keep in mind that you’re still prospecting the customer, even if you don’t want them to think of it that way. They know they have a problem–now it’s your job to show them that you offer a promising option.
This is when your customer is researching solutions to their problem, which means it’s your chance to educate them on your solution.
Once you’ve started to reel them in, your customer reaches the consideration stage.
They’ve done their homework. They know about the available solutions and have taken a keen interest in a few options (including yours!) Now, they’re evaluating which solution is the best fit for them.
Now is the time to wow them.
Show them all the reasons why you’re a better solution than anyone else. Show them why your solution works. Pull out all the stops to convince them.
You’re almost at the finish line, but not quite.
The engagement stage is the final stage before the sale. This is when you need to build a relationship with your would-be customer and handle any objections they may have.
For example, if you’re selling a service, break out case studies and testimonials to show how your solution fits their scenario. Give them a taste of what they’ll get if they make a purchase to show them that it’s worth their hard-earned money.
Many customers linger at this stage. After all, they want to make sure they make the right decision. Prove to them why you’re the best choice.
The commitment stage is what you’ve been working toward the entire time. It’s the critical moment, the moment that keeps your whole business in motion: the moment that money changes hands.
Of course, your job isn’t done yet.
You have to make sure that customers have everything they need to easily commit. You also have to make sure that you don’t forget about those customers once they’ve committed–the best customers are paying customers who keep coming back.
Delight your customers. Show them how to use your product for the best results. Tutorials and how-to videos are a boon here. And once they’re using your product, don’t be afraid to nudge them in the direction of other products using a marketing funnel.
Remember, the goal is to keep them engaged with your brand. If they’re engaged, they’ll continue to do business with you.
How Do Videos Strengthen Your Funnel?
So, where does video fit into the picture?
They say a picture’s worth a thousand words. A video is a whole novel.
2019 is the year of video. A whopping 54% of people want to see more video content from marketers. And among B2B audiences, a whopping 70% of B2B buyers and researchers are watching videos throughout their path to purchase.
Why is that?
Video is a way of breaking out of stiff, over-polished marketing. It’s a way to see a real person behind a brand and it gives you the unique opportunity to directly speak to your customer, almost as if they’re having a conversation with you.
In short, it’s a chance to humanize your brand and make your marketing more dynamic.
Here’s how video fits into each stage of the funnel.
Top of the Funnel
At the top of the funnel are awareness and interest. This is inbound marketing at its finest, and video is great for this.
You’re trying to make your customers aware of a problem and educate them about your possible solution, right? Why not show them free educational content to show product in action and build a relationship with new prospects? Why not give a tutorial on your product or service?
Keep in mind that there are subtle ways that video can work in your favor. It’s a way to show your brand’s personality just as much as it’s a showcase of your product.
Are you hip and trendy? Are you serious and stoic? Are you straightforward with a dash of well-placed humor?
It’s all about showing your customers what you’re made of–and proving to them that you’re the perfect fit for them.
Middle of the Funnel
Then, there’s the middle of the funnel, the consideration stage. This is when the customer begins to associate you with your available solution.
In this stage, video is uniquely equipped to respond to customer consideration. You can speak directly to your customers about why your product or service works, rather than simply getting their attention.
This is also when you begin to nurture a relationship and show that you’re an expert in your industry. In other words, the best solution to their problem.
Educational content (especially in the form of explainer videos) is the perfect fit at this stage.
Let’s say that you have a manufacturing company. This manufacturing company wants to show know how their product really works to solve problems. To do this, they could show product videos with features and benefits.
Or, let’s say you have a finance company. They could show explainer videos walking the viewer through the details of their product.
Many companies neglect this stage. Actually, 68% of B2B organizations don’t even have defined stages in their funnels, so they don’t do any relationship-building to bridge interest into commitment.
Bottom of the Funnel
Finally, there’s the bottom of the funnel, the decision and commitment stage.
The key to the bottom of the funnel is to map it appropriately.
Think of how many calls-to-action and trial offers are floating around the Internet, which is odd considering that most site visitors aren’t ready to buy right away. Actually, most people get 60% of the way through their buying process before they’re ready to talk to anyone about purchasing.
But when they are ready, video can help ensure that they convert.
Videos allow you to show the benefits that other customers have seen from your product. Customer testimonials are huge at this stage, as well as demos. It’s a way to show that other real humans have used your product and been happy with the results.
This is when it’s okay to lean into the unpolished side of video. Don’t go for slipshod production, but giving customers the sense that this is a real video someone made is humanizing for your brand.
Beyond the Funnel
As we said earlier, your work as a marketer doesn’t finish after customers make a purchase. If anything, it’s just as important to work with customers who have already purchased.
That way, you can make sure that they come back.
Video is the format that sparks the most interest in this area. Storytelling videos are the most valuable here, as they help customers relate to your brand in the same way they would relate to a person. This helps establish a sense of personal connection to cut through all the advertising noise consumers hear every day.
Consumers today have unprecedented access to information, which means that they’re demanding brands who share their values. Videos are a great opportunity to showcase what matters to your brand and the people who work for you.
Are Video Marketing Funnels Just Video?
Despite the name, video marketing funnels are not composed solely of video. They’re actually an all-around lead machine made of video, blogs, ebooks, whitepapers, and other content automated throughout the funnel.
This helps you capture, nurture, and convert leads while retaining existing customers, all on an automated basis that makes it easy to take charge of your customer interaction.
The funnel works 24/7 to bring in leads that are genuinely useful to you. And that means that marketers can stop dealing with the minor details and spend their time focusing on larger creative tasks.
Are All Funnels the Same?
You know why you need a funnel, but before you set to building your video marketing funnel, keep in mind that not all funnels are created equal.
Your funnel will actually look different depending on how your business operates and what you’re trying to achieve. The basic structure of buying a book and buying a house is the same, but in practice, you’re dealing with a completely different purchase scale.
Your funnel should reflect this change.
Basically, you have to adapt your funnel to the purchase scenario and to your customer. In order to work, it has to effectively guide buyers through each stage of their journey.
Convincing someone to buy a car is different than convincing someone to buy a t-shirt, and your funnel should account for this.
Making the Most of Your Video Marketing Funnel
What is a video marketing funnel?
It’s a tool that sets you up for success and productive long-term relationships with your customers.
If you’re looking to build your video marketing funnel, we’re here to help. You know your company, and we know how to make great videos that represent your company.
Ready to find out how we can help you convert more customers? We’re ready to hear from you! Get in touch today to start the conversation.