Bow tie marketing – For many years, the idea of the sales funnel (or sales pipeline) has been accepted as a core principle in formulating successful marketing strategies. But, whilst it is a valuable concept in itself, it fails to cover the full scope and nature of the most valuable interactions between a business and its customers. The approach is primarily focused at considering how new customers are acquired, without any recognition of the fact that business from existing customers is typically substantially more valuable, and invariably significantly less expensive – according to many industry experts by a multiple of seven to ten.
Marketing automation is vital for any business. If you’re considering growth and expansion, as most organisations are, you need a marketing plan that helps you to grow your bottom line. So, it is imperative to create marketing strategies to attract potential customers. To attract new customers, it is helpful to reach out to them at multiple points during the sales cycle – to gauge their interest, to nurture their curiosity, to peak their desire, and to encourage them to convert. The AIDA model springs to mind (Awareness, Interest, Desire, Action) when considering this process.