The 5 stages in the Digital Marketing Funnel
As a digital marketer, it is important to understand the different stages in the funnel in order to create an effective marketing strategy, target your audience and reach your goals. It represents all the stages a customer has to go through before they purchase a product or a service. If you are new or an apprentice as a digital marketing then read on to find out more!
What are the 5 stages of the digital marketing Funnel?
Reach | Acquisition | Conversion | Retention | Loyalty |
A customer has a need or paint point, they research and come across your product or services. | The customer is now interested in your company and have been actively interacting with the brand. | The customer has made the step to buy or use your services | You want the customer to continue to use your product or services, you want to keep them as an existing customer. | This is where the customer has trusted your company and advocates for your brand. |
At each stage, there will be different metrics you will need to measure to analyze whether or not your strategy is effective and meeting the objectives and goals of your company. For example, at the reach stage you would measure the number of impressions or audience growth rate. In the conversion stage you would measure the number of leads or purchases and in the loyalty stage you would measure NPS scores or ROI.
How does this link to my apprenticeship?
As part of your apprenticeship, you will need to complete 3 different exams, one of these is the KM2 marketing principles exam. This exam will test your knowledge on the marketing funnel and the role of the customer. It will also expect you to know how marketing teams work effectively to deliver campaigns and target customers.
The summative portfolio
When completing your portfolio, you will need to demonstrate evidence of projects you have worked on and how they relate to the competencies. To meet the bare minimum requirements, you must be able to show the What, How and with whom. You will need to show evidence of creating campaigns and explain the brief, purpose, and outcome. For this it is crucial to understand the marketing funnel. This also relates to other competencies outlined in the occupational standards.
The end point assessment (EPA)
The EPA consists of a synoptic project that must be completed independently by the apprentice. You will be expected to utilise all of the knowledge and work-related skills in this time. By now you should be confident in understanding the 5 stages of the digital marketing funnel.
After your synoptic project, you will have an interview with an external assessor who will also test you on your knowledge!
Conclusion
The important thing to take away is to become familiar with the digital marketing funnel which will help guide you the rest of your journey as an apprentice!
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