When it comes to advertising on the internet, site visiting frequency is crucial for marketers in means of discovering prospect buyers for products or services. In other words, a conversion funnel is the path potential customers take to become consumers.
Funneling, as the term suggests, means guiding someone throughout a channel, in his case, through the process of internet advertising in which a consumer`s search is turned into a sale.
Conversion funnel in easy words
Conversion funnel includes certain steps that lead to the final outcome.
The first step is making the customer aware about the specific product or service. Here, customers should be properly targeted-their percentage, the number of people who noticed the ad, which content has been mostly read and so forth.
There might be a bunch of people who have been informed, though not all of them will develop an interest in the advertisement. That is why the funnel shrinks at this second stage. It is worth mentioning that copywriting skills are essential at this phase as engaging contents keep visitors interest.
Then again, during the third step the number of interested customers is likely to decrease. Having an interest does not mean having the desire to get into buying. People need to be persuaded through problem solution. The better the problem is solved, the greater are the chances of turning an interest into a desire.
Finally, the last step is taking an action. Only a small number of attracted customers will reach this phase. Analytical examination of sales is an imperative to make improvements at each level of the conversion funnel. Even if a certain number of buyers have been achieved, the process does not end here.
Successful funneling means repeated customers. Moreover, other product funnels should be considered or creating new product lines and services for this category of clients. This is actually the narrowest part of the funnel-there may be only a few potential customers ready to take action compared to the larger number of customers at the beginning of the process.
Conversion funnel may include more complex features depending on the desired stages and processes that need to be analyzed. A number of goals may be incorporated in the process of funneling. For example, awareness may be extended to more sub-categories such as, category, brand and advertisement awareness. Regardless of the number of goals, accurate monitoring can help to make the most out of the prospective clients to reach the “buy” level. As we said, not all who enter the funnel will come to the desired point for the marketers. Due to this, various strategies should be considered how to maximize the amount of buyers. For instance, if a product costs 79$ and a considerable number of interested customers have left the funnel, a different, less expensive offer may be given through a different funnel so that the prospects might hopefully get back.
Lastly, despite the marketer’s efforts to move prospects through each stage, there will always be people dropping off. Therefore, it is important to monitor to figure out why customers churn. The reasons may be endless, though there are strategies to qualitatively research and prevent churning. Initially, one must ask themselves how to motivate customers to go through the funneling, how different they are and which were the obstacles. Conversion funnel serves to estimate and improve marketing endeavor.