What is Conversion Funnel?
A conversion funnel is the customer’s journey with a business, which involves the classic AIDA model of awareness, interest, desire, and action. The company’s goal is to streamline the conversion funnel flow to create as many paying customers as possible. However, it is unrealistic to expect every person who comes across a business to reach the point of sale. That is why it is called a funnel –there are always more people who are aware than people who buy. Also, it is vital for companies to understand that not everyone goes through the conversion funnel in a linear fashion. Sometimes, a potential buyer will go from aware, to interest, to desire, back to interest, and then, finally, they will make the purchase.
If a company wants to improve the conversion funnel, it must research its customer’s wants and needs. For example, many people might gain interest in the website’s homepage, but it never quite progresses to desire due to confusing links or a lack of call-to-actions. It would then be the business’s mission to fix that to ensure a smoother flow through the conversion funnel. Each step of the funnel requires careful consideration.
Improving a conversion funnel involves lots of research, asking for feedback, using data, and using call-to-actions. Although not every lead will turn into a purchase, understanding and optimizing the conversion funnel will guide more customers in the right direction. It makes the decision easier for the customer.
For Your Reference – Related Terms
Conversion rate, sales funnel, customer journey