The digital marketing funnel

Smart Insights is a digital marketing publisher and online learning platform run by Dr Dave Chaffey. Chaffey is the author of the excellent book Digital business and e-commerce management, which I studied during my Information systems and management degree. I have been reading up on digital marketing this week, and I came across one of Chaffey’s frameworks that organise and simplify modern marketing.  

Smart Insights RACE framework lays out the marketing funnel to help people plan and manage a digital marketing strategy. The framework includes; plan, reach, act, convert and engage and shows the critical measures for target setting and evaluating each stage of the marketing funnel.

The Smart Insights RACE Framework

  1. Plan: Define your goals and strategy 
  2. Reach: Grow your audience using paid, owned, and earned media
    1. Buyer stage: exploration
    2. Key measure: audience volume, audience quality, audience value and cost
  3. Act: Prompt interactions, subscribers, and leads
    1. Buyer stage: decision making
    2. Key measure: leads/lead conversion rate, time on site, subscribers/likes/shares 
  4. Convert: Achieve sales online or offline
    1. Buyer stage: purchase
    2. Key measure: sales, revenue/profit, conversion and order value
  5. Engage: Encourage repeat business
    1. Buyer stage: advocacy
    2. Key measures: repeat purchase (lifetime value), brand satisfaction and loyalty, advocacy 

Find out more about the marketing RACE planning framework on the Smart Insights website.