All marketers have seen or heard the idea of having a funnel with some awareness campaigns that hopefully further down the funnel will turn into a possible conversion. Sounds easy right? Not
really. When looking at all of the new updates that Meta has implemented last year, such as ATT, ITP and other unavoidable factors such as GDPR, the funnel that once was easy has become more complicated in terms of data and reviewing results.
Nimble always create a tailor made funnel strategy
When looking at the full funnel strategy, there is never an “one size fits all” solution at Nimble. Because in reality, there are multiple metrics that should be taken into account when creating a funnel. Such as, what data points are currently available, how well segmented is the CRM and what type of content is already at hand. Depending on the current resources and data, we create a strategy that only suits your business and will over time evolve and change since the funnel is an ever-evolving strategy that will grow over time.
Data integrated funnel combined with artificial intelligence solutions
When creating the funnel we are always having the approach of using the data that is currently available but also making sure that the funnel is continuously having an inflow of new data to the website to be able to grow the business further. We’re also making sure to have new traffic entering the web in combination with having retargeting and retention campaigns to nurture current or engaged users.
This is a way to make sure that potential customers become aware of the business but still being relevant to current customers further down the funnel. By having customised ads and content further down the funnel based on previous behaviour, we are able to lower the CPI, CPM and frequency. Apart from that, we are able to pinpoint different audiences and allocate budget more wisely thanks to our AI solutions in place.
When to have a full funnel strategy (and when not to)
A lot of businesses don’t know how to implement the full funnel strategy and when to do so. And the quick recipe for success is; it really depends on your business. One common occurring mistake a lot of businesses make when starting with performance marketing is not aligning the media budget with the set KPIs. This part is crucial to have in place when planning a full funnel strategy, whether it’s for Meta, TikTok or Snapchat. When that is in place, look over how much you are willing to spend on a daily basis, if it’s too low then it’s most likely that your business is not ready for the full funnel approach, yet. If you currently have a set media budget but are not achieving your KPIs goal and haven’t implemented a full funnel strategy, you might be wanting to implement one by now.
So firstly, look over your media budget and KPI’s, make sure to align those before even thinking about having a funnel strategy. Secondly, see what data points are available right now and how you can use them when segmenting your audiences, this will make it easier for your business to also set KPIs for all of the different steps in the funnel. And lastly, make sure to have enough content and different types of images to be able to customise the ads for your customers.
This way, you’re making sure that the frequency is low, you’re still relevant to your current and potential customers and hopefully reach your goals and KPIs.