A conversion funnel refers to the process that potential customers go through from their first interaction with a brand or product to the final action of making a purchase or completing a desired goal. This concept visualizes the customer journey as a funnel, with several stages:
- Awareness: Potential customers become aware of the brand or product through various marketing efforts.
- Interest: They show interest by engaging with the brand, such as visiting a website or signing up for a newsletter.
- Consideration: Prospects evaluate the product or service, comparing it to alternatives and considering its benefits.
- Intent: They demonstrate a clear intention to purchase, such as adding a product to a cart or requesting more information.
- Action: Finally, they complete the purchase or take the desired action, converting from a prospect into a customer.
Understanding and optimizing each stage of the conversion funnel helps businesses improve their marketing strategies, increase customer engagement, and ultimately boost sales and conversions.