Funnel stage
Different phases in the marketing funnel, each with specific objectives, KPIs and metrics
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| Term | Definition |
|---|---|
| Funnel stage | Different phases in the marketing funnel, each with specific objectives, KPIs and metrics |
| Awareness KPI | % increased in brand awareness (survey) |
| Consideration KPI | Number of products info requests |
| Conversion KPI | Sales revenue |
| Retention KPI | % of returning customers |
| Advocacy KPI | Number of referrals generated |
| Awareness metrics | Impression, reach, share of voice |
| Consideration metrics | Time on pruduct page, number of downloads |
| Conversion metrics | Average order value, cart abandonment rate |
| Retention metrics | Purchase frequency, churn rate |
| Advocacy metrics | Net promoter score (NPS), reviews submitted |
| Vanity metrics | - numbers that looks impressive but don’t reflect true business impact - ex numbers of followers or total page views |
| Examples of real KPI | - % increase in brand awareness - qualified leads generated - sales revenue from new customers |
| Cognitive architecture | The structure of the brains processes for decision-making, including working memory and long term memory |
| Working memory | Type of memory with limited capacity that is easily overloaded |
| Long-term memory | Type of memory with unlimited capacity that stores schemas guiding decisions |
| When do learning and decision making occur? | When information is transferred between working memory and long term memory |
| Jod to be done (JTBD) | A framework connecting company objectives with the progress customer seek |
| Why is the job to be done framework good? | - shift focus from what we sell to how people actually think and deciding - makes marketing human-centered and sustainable |
| What three dimensions are in the JTBD framework? | - Functional (what problem is being solved) - Emotional (how does it make the customer feel) - Social (how does it affect how others see them) |