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The final stage of the pirate funnel focuses on converting consumers into brand advocates, exploring good old referral marketing. Quite simply, this is the most cost-effective way to acquire new business opportunities, but measuring the process can be a challenge. After all, in addition to getting consumers to mention your brand, you also need to understand the new leads generated by this specific action, which may be easier to monitor for online businesses such as enterprises and e-commerce.
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A common approach is to provide users with exclusive codes that can be kazakhstan phone number list shared within their circle of relationships to generate free memberships, discounts, offers, etc. Why is it worth using the Pirate Funnel? The management of any company involves efficient decision-making, which in turn depends on the ability to develop and analyze strategies. By applying the Pirate Funnel, you can gain a clearer understanding of the customer's journey from discovery of your brand to post-purchase, which in itself shows that the framework is worthwhile.
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Channels are fundamental to managing the consumer experience. By applying this approach, brands can be guided to strategically plan actions to reach each potential customer in the best possible way, while helping to identify and eliminate bottlenecks. For example, let’s say your company notices that conversion rates are high during the acquisition phase, but not so good during the activation phase.
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Once you have identified the problem, you can invest in solutions, such as producing materials at the bottom of the funnel. Another point that underscores the importance of the Pirate Funnel is that it allows focusing on actions that generate greater profits, for example, the framework indicates which acquisition channels have proven to be the most satisfying in terms of return on investment. Based on this information, you can focus your efforts on more specific actions to increase your return on investment.