There are two marketing models generally in practice and acceptable:
- Funnel marketing
- Bulls-eye marketing
Both models are used by marketing strategists to target clientele and both of these work for different reasons. It does not mean that one of these models is wrong or out-dated and other works better. It just means that the approach that these two models use is different in terms of how they perceive real-time scenarios.
Funnel marketing describes the strategy as a funnel where potential clients start at the top of the funnel and as the marketing gets refined, their number trims down and potential clients are converted in paying clients successfully.
In bulls-eye marketing, the circles of the target represents clients with the ones at the edges being the clients with least chances of getting converted in paying clients while the ones on target being the easiest to be converted into paying clients.
One concept that both these campaigns share with each other is the concept of narrowing down the client base into the very few potential clients which are strongly inclined towards being converted into paying clients.
Get to know more about these concepts
Both of these models start initially by getting people to sign up for something free such as mailing lists where you can share promotions and coupons. With the outcome of these campaigns, you can run statistical analysis and get to know who your potential customers are bit better. Then in the light of latest findings you can refine your marketing strategy and then give it a go ahead. In funnel marketing, the further down you can push your client to go the greater chances there are that those clients will start paying.
Cons of funnel marketing
Funnel marketing begins with a basic assumption that all the clients whom it targets are potential customers. In real life, it is true to only 70 percent of the total clients targeted. But the rest of 30 percent clients do not want to go through the lengthy marketing campaign as they have been referred to your company or they have found your business through Google. They are there to buy your product whether you market to them or not.
It is important to know that not every potential customer will sign up for the initial free stuff that you offer to them. Some want to pay right away and start availing your services. Funnel marketing does not account for clients who join anytime between the funnel as it can only account for the ones joining from the top.
Pros of bulls-eye strategy
Bulls-eye strategy works in real time which means that it keeps track of ground reality. They divide the potential customers into two categories. Ones that are getting to know you and the second which already knows you and is ready to make a transaction. The former can be targeted by the funnel approach and a marketing strategy can be effectively put to work to convert them. On the other hand, the later need to convert right away and a transaction and sales strategy should be used for them.