Sales Funnel Principles
Steve clarifies sales funnel principles and puts them into context against each type of paid search campaign.
He distinguishes between the classic, intrinsic sales funnel concept, and the “extrinsic” sales funnels popularized by digital marketers over the past few years.
Intrinsic sales funnels are a model for natural, aggregate buyer behaviors. They represent what typically occurs between first awareness of a product or service, and an acquisition.
Extrinsic sales funnels are frameworks constructed to guide buyers into a transaction. Typically extrinsic funnels utilize drip email campaigns.
A classic 3-level intrinsic sales funnel is introduced:
- High Funnel (‘Awareness’)
- Mid Funnel (‘Consideration’)
- Low Funnel (‘Acquisition’)
Each of the four types of paid search campaigns are compared regarding their strengths in bringing traffic into the classic sales funnel:
- Search Campaigns (High Funnel)
- Display Campaigns (High Funnel)
- Shopping Campaigns (Low Funnel)
- Video Campaigns (High & Mid Funnel)