How do I know if my funnel strategy is working?

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It may feel expensive or time-consuming to maintain a sales funnel, especially on a small budget.

But that’s exactly why you should be measuring all of your activity – it’s important to know which parts of your investment are working, and where you should be optimizing. That’s the advantage of digital marketing: everything is trackable. 

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As we always say, the secret to maximizing your budget is to do more of what works and less of what doesn’t.

So, how do you know which parts of your content or marketing effort is driving results? Which are the metrics that matter?

Marketing-Funnel-Infographic-Blog
Figure 1: Taking a customer from “I don’t know you” through awareness, consideration, conversion and then further nurturing.

Measuring: Awareness

At this stage of the sales funnel, you want to be getting your content in front of as many eyes as possible. The metric you’re measuring here is “Reach”. Referring to Facebook in particular, “Impressions” includes frequency, meaning the same person being served the same content a number of times will be included.

Hypothetically speaking, this number should be big: by factorials, if your “conversion goals” are in the tens and your “consideration goals” are in the hundreds, this should be in the thousands.

Also Read: Start your own Marketing Lab in minutes and optimize for results 

#digitip: This stage also includes video views, and length of time people have spent watching your videos. If they consistently drop off after 3 seconds into a 30 second video, something’s wrong.

Measuring: Consideration

This is where you need to care about Click Through Rate (CTR) and potentially Engagements (likes, shares, retweets, and so on) as additional indicators of interest or suitability. It’s also important to take note of “audience fatigue”.

The first time you post content, it should get great engagement and CTR, if it’s well suited to your audience. You can and should reuse your best performing content – don’t assume everyone sees something the first time, or that everyone is on Facebook and Twitter and LinkedIn and Pinterest and YouTube and all the rest.

But your audience will get bored with content after a few runs, which is where you’ll see drop-offs in engagement and CTR. That’s when it’s time to put that content away for a while and do something new.

Measuring: Conversion

Your metric to measure here should be defined by your internal goals. It could be based on raw numbers of leads, sales/revenue, emails for your mailing list, and so on. What do you consider a successful sale to look like? And what was the total cost of that sale or conversion?

By growing your understanding of your cost per lead or cost per conversion or cost per sale or ROAS (return on Advertising Spend), arguably you’re measuring the most important metric of all.

Read more: How we helped a startup maximize its digital spends and grow its sales and revenue

Measuring: Nurturing

It is important to keep measuring the relevance of your content to your customer.  You can do this with metrics like:

  • Frequency of purchase and recurring revenue
  • The lifetime value of customer
  • Open rates of emails
  • Satisfaction and service ratings (or NPS).

Take the time to plan the customer journey. Recognize there are stages to take a customer from “don’t know/don’t care”, to “I see why I need you and I am prepared now to buy from you”, to being a true advocate and loyal customer. 

Just remember to measure everything! That way, you know what’s working, and you can keep doing more of it.

Our Platform

Digivizer makes it easy for any business anywhere to understand, deliver and make good decisions about their investment in digital marketing. Take advantage of our affordable, easy-to-use platform allowing your business to measure in real-time your owned, earned and paid, search and social media performance, so you can do more of what works.

Digivizer offers a range of plans that scale depending on the number of users, the number of connected paid and search accounts, and the number of hashtags being tracked.

The Digivizer Starter Plan costs US$89 per month, with all plans offering 30 days of data across all paid, owned and earned channels and the first 30 days free.

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