What's up brand builders Stephen Houraghan here at brandmasteracademy.com and in this video you're
going to learn what a brand funnel is with this six stage template so you can discover the steps
you can lead your audience through on the journey to becoming loyal brand advocates
now if you're new to the channel and you want to build brands that go beyond the visuals using
strategy psychology and creative thinking then you're in the right place hit that subscribe
button and the notification bell if you want to fast track your results make sure you grab
the pro brand strategy blueprint to free download and the link is in the description now in today's
digital marketing world there are metrics for pretty much everything
brand performance on the other hand is notoriously difficult to track which undermines the critical
importance of branding therefore so many brands over invest in marketing and underinvest
in their branding because there's nothing like a green metric to get the dopamine flowing but brand
performance measurement can be simplified using a simple brand funnel giving brand managers an
effective tool to measure brand growth so in this video you'll learn what a brand funnel is and how
you can use it to measure the growth of your brand so what is a brand funnel well a brand funnel is a
customer journey model from the perspective of the customer it measures the awareness of the brand in
the market and each step the market takes towards brand loyalty and then advocacy it allows brand
managers to see where the brand is performing well and which transition steps need most attention
to prevent as many customers as possible from veering off the road to advocacy so let's take
a look at the brand funnel stages now as with any funnel model or customer journey mapping
model there are different stages to the brand funnel model now the first step is to understand
how your customers move along the journey and the stages that they go through along the way
and then the next step is where the real value lies in the brand funnel and that is analyzing
where and why large portions of customers are failing to transition from one stage to the next
so here are the stages of the brand funnel we have awareness consideration preference
purchase loyalty and then advocacy so let's have a look at each of the brand funnel stages in a
bit more detail but before we do if you have any questions or insights drop a comment in the box
below and of course if you like this video give it a thumbs up and hit that subscribe
and the notification bell will let you know when i release new videos just like this
number one awareness the awareness of your brand is the percentage of people on the market who
recognize your brand name when they're prompted so in other words how many people have heard of
your brand and how does that number compare with your competitors or against the overall market
size your marketing strategy plays a big role in increasing your brand's awareness and the more
people or market percentage you have at this stage of your funnel the better position you are to
become a competitive player in your market number two consideration now the consideration stage of
the brown funnel measures how many people or the percentage of those who are aware of your brand
would actually consider making a purchase the only brands that have a compelling offer which aligns
with and can deliver on the goals of the target market will be considered number three preference
now the preference of your brand within your chosen market measures how your brand compares to
your leading competitors as the preferred choice in the market now although this doesn't represent
an actual purchase it is a very good gauge to measure your brand's perception and the likelihood
of a purchase in that buying decision number four purchase now the purchase stage of the brand
funnel is pretty self-explanatory really this is the measurement of those who have actually
purchased the brand's products at least once if they've considered all the other options in
the market and they've made that critical buying decision to disregard the competitors and to make
that purchase number five is loyalty now brand loyalty is the measurement of those who have
made both an initial purchase and a subsequent repeat purchase or repeat purchases so ultimately
this group of people have shown that they've had a positive experience with the brand enough anyway
to make more than just one purchase so the extent of these repeat purchases indicates the level of
brand loyalty achieved and lastly we have the final stage of the brand funnel and that is the
holy grail of branding which is brand advocacy now this measures how many people would recommend
the brand to others based on the experience that they've had now this stage specifically speaks to
the level with which the brand delivers on its promise and helps those customers to achieve
their goals now we've all heard of sales funnels and marketing funnels before but how do they
actually differ to brand funnels well there are many different types of funnels when it comes to
business now two of the most well-known funnels are the sales and the marketing funnels and
while there are many different variations of each of these ultimately both map the customer
journey and the transitions from one step to the next based on funnel metrics so for example how
many people come to your website and how many of those convert into an actual customer now
while they provide real-time statistics of what's happening with the brand's tactics with
the brand's traffic and sales they do little to paint a picture on how the brand is perceived by
its target audience the brand funnel on the other hand measures the brand's perception in the market
the level to which people are aware whether or not they would choose the brand over its competitors
and whether or not they would recommend it to a friend brand funnels therefore bring some metrics
into the world of branding helping brand managers and leaders to analyze the health
of their brands identify where they can improve the brand experience and ultimately convert more
lookers into buyers and buyers into advocates now as i mentioned earlier the key to success
is getting people to the top of the funnel by raising brand awareness now if you want to learn
more about the most effective brand awareness strategies to warm your prospects up then this
video will help you out until next time brand like a master and i'll see you in the next video