Module 2: The Brand Funnel
Introduction
Understanding how customers interact with your brand from first hearing about it to recommending it to others is vital. Module 2 of The Trakkster Report, the Brand Funnel, offers a visual journey of this process. Let's break down what each stage of the funnel means and how it helps in pinpointing strengths and areas for improvement.
Insights
Population
This is the starting point of the funnel, representing everyone who could potentially know about your brand. It's like the total audience at a big concert – not everyone knows the band yet, but they’re all there.
Awareness
Next is 'Awareness', which shows the percentage of that total population who actually knows about your brand. It’s like seeing how many people in the concert crowd have heard the band's songs before.
Consideration
After awareness, we have 'Consideration'. This tells you how many people who know about your brand would think about buying your products. It’s like finding out how many in the crowd would consider going to another concert by the band.
Preferability
'Preferability' is next, indicating the percentage of people who not only consider your brand but prefer it over others. This is like knowing how many concertgoers like the band more than other bands.
Usage
Then comes 'Usage', showing how many people actually use or buy your brand. It’s like counting the number of people who bought the band's merchandise or albums after the concert.
Recommendation
Finally, 'Recommendation' measures how many people would recommend your brand to others. It’s similar to concertgoers telling their friends about the band and encouraging them to attend the next concert.
Conversion Rates
Between each stage, the report shows conversion rates – like a guide showing how well the band is doing at getting the audience's attention, turning them into fans, and then into super fans who bring more people to their concerts. It highlights where the band is successful and where they’re losing potential fans.
Conclusion:
The Brand Funnel in Module 2 of The Trakkster Report is like a roadmap showing how your brand turns a general audience into loyal customers and advocates. It highlights the journey from initial awareness to ultimate recommendation, helping you understand where to focus your marketing efforts.
