A conversion funnel is a marketing term that helps companies to visually understand the journey of the conversion path. It is also known as Sales Funnel and AIDA Model.
This process is described as a funnel because it shows the different stages in a buyer's journey leading to a purchase/sale.
Usually, a conversion funnel is divided into four stages, and each needs different digital marketing tactics to increase effectiveness. Below is a representation of how a sales funnel looks like. Let's walk through each stage.
This is the stage where you launch the prospect onto your website. To succeed in this stage, you can;
Raise awareness of your business,
Determine the sources that bring you the most website traffic,
Be active on social media channels,
Once you begin to drive traffic to your website, it is time to build interest among your potential customers for your products. To achieve this objective, you may;
Offer engaging, extensive, useful, error-free and relevant content, and promote your content wisely,
Show irresistible offers like coupons, discounts, and one-time offers,
Alter your website design and make sure it is very user-friendly,
Ask your visitors to subscribe to your email newsletter list in exchange for a valuable offer like free shipping, an eBook, or a discount.
Now, it is time to build trust and captivate your prospects so they seek to learn more about your products. Don't forget, the potential customers that reach this stage are high-quality and valuable.
Desire is also considered as the decision stage. That's because once the desire has been formed among prospects, the decision is almost certain.
Therefore, to emerge successfully from this stage, you should;
Design email campaigns to deliver customized messages,
Clearly identify how your product solves a particularly common problem faced by your customers,
Create more targeted ads and customize your digital messages,
Up until this point, your leads have been traveling through the funnel and achieving micro-conversions like signing up for your email newsletter, creating an account, and downloading an eBook thanks to your successful lead nurturing tactics.
Now it is time to enjoy the best outcome: sales!
While examining your conversion funnel, you will notice that only a small percentage of the visitors land on your checkout page. That is why even the most minor improvements and investments in each stage may have a significant impact on the bottom line.