The purchase funnel is the path on which a consumer starts by learning about a brand and that ultimately leads them to make a purchase. The funnel is a useful tool in coming up with a good and effective marketing plan. Along with the highly quantitative digital media, the use of a Purchasing Funnel could be the difference between a good and a bad campaign.
The purchase funnel below defines five stages in using the digital environment to move individuals from a lack of knowledge of a brand all the way to intending to take action. The digital medium lends itself to zeroing in on the marketers goals.
1. Aided Branding Awareness: Measures the level of aided familiarity respondents have with a brand
2. Online Ad Awareness: Measures the level of “breakthrough” of online advertising by gauging ad recall
3. Message Association: Measures the extent to which respondents can match the messages to the brand
4. Brand Favorability: Measures the extent to which respondents have a positive opinion of the brand
5. Purchase Intent: Measures the likelihood of respondents to make a purchase
Marketer can use the following checklist to gauge their audience level:
1. Aided Branding Awareness: Does your audience recognize your brand when presented with its name?
2. Online Ad Awareness: Does your audience recognize that you’ve advertised online recently?
3. Message Association: Does your audience associate your brand with its value perception?
4. Brand Favorability: Does your audience appreciate, respect or otherwise carry favorable opinions about your brand?
5. Purchase Intent: Does your audience intend to purchase or take action because of your brand?
Answering the above questions can help marketers zero in on the right approach
Source: DoubleClick and Dynamic Logic
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