Marketing Funnel vs Growth Funnel: what are the differences between the two?

[liza89]

The Marketing Funnel and the Growth Funnel are two different approaches to guiding prospects through the buying journey. While they share similarities in their overall structure, there are important differences between them.

The Marketing funnel , also known as the traditional sales funnel, is made up of three main stages: top, middle and bottom:

At the top of the funnel, the goal is to attract as many prospects as possible, usually through content marketing and lead generation strategies.

In the middle of the funnel, prospects are qualified and nurtured, with the goal of turning them into qualified, sales-ready leads.

At the bottom of the funnel, the sale is closed and the lead is converted into a customer.

The Growth funnel is a more focused approach whatsapp data to rapid and scalable business growth. It extends the Marketing funnel by adding stages such as activation, retention, revenue, and referral. The idea is not only to acquire customers, but also to maximize the value of each customer and encourage referrals to drive growth.

In the Growth funnel, the activation stage is focused on providing customers with a positive initial experience to increase the likelihood of retention.

The retention stage aims to keep existing customers engaged and satisfied, encouraging repeat purchases and loyalty.

The revenue stage seeks to increase the average value per customer, whether through upselling, cross-selling or other revenue-increasing strategies.

And the referral stage aims to transform satisfied customers into brand advocates, who recommend the company to others.

In short, while the Marketing funnel focuses on acquiring leads and converting them into customers, the Growth funnel expands this focus, seeking sustainable and scalable growth through activation, retention, revenue and referral.

Both approaches have their value and can be applied according to the specific goals and needs of each business. It is important to understand the differences between them and choose the most appropriate strategy to drive the company's growth.