What is a conversion funnel?
The conversion funnel is an online marketing term related to our business objectives and that we consider when we start an online business.
It is a way of classifying and organizing the different stages that consumers go through: from the moment they generate a need until they decide to supply it and become customers.
These three stages are:
- TOFU (top of the funnel) stage: it is the first discovery phase. The user detects a need and is looking for information to find a solution.
To attract the attention of this potential consumer, we must provide them with general information about our products and services.
- MOFU stage (middle of the funnel): in this second phase, the user evaluates different options and begins to show consideration and interest in our product. To make the user decide on our offer and become a lead, it will be necessary to offer them valuable content.
- BOFU stage (bottom of the funnel): finally, at the bottom of the funnel, we have users who already intend to buy our product and only need a final evaluation to decide. Now is the time to offer them exclusive offers like free trials or discounts to get their attention and buy.
Advantages of using the conversion funnel
To understand how to interpret our conversion funnel correctly together with your android app promotion, it is necessary to understand how and why we attract customers and retain them. Both of these issues are the basis for business growth.
The main advantages of funnel marketing are:
- It allows us to know the percentage of users' losses of our website in each of the stages to find a solution. And for this, our objective must be to reduce that percentage as low as possible. Or, in other words, that the users who pass the different phases are the maximum possible.
- The conversion funnel can be of great help since it can also help us optimize our plan in the different phases in addition to its metric function. And thus, make the best decisions about what to do in each of the stages in which the user progresses. The funnel allows us to have a clearer idea of where exactly we need to focus our efforts.
- The sales and marketing departments need to stay connected and work towards common goals. As our website improves, the lead that will reach the commercial team will be very prepared for sale and with which the commercial team will have minimal difficulty closing the deal. Both marketers and sellers can access all the information of each stage of the funnel, so the improvements made will affect all processes.
- The effectiveness of the sale grows and, therefore, you manage to lower costs at the level of customer acquisition, thus achieving a constant source of new customers and in a much easier way. However, managing to retain customers and earn their loyalty will mean an additional investment in your marketing.
- The ability to measure results in real-time is key to improving results. When you create a marketing funnel, the lead qualification process is done automated, so you will save time and improve your performance.
- It also helps us calculate the return on investment (ROI) of our campaign. One of the most common mistakes in an online marketing campaign, and especially inbound marketing, is to focus efforts on attracting the largest number of customers, that is, placing users in the widest phase of the funnel, which is why sometimes we forget to improve our relationship with the clients we already have.
What is the most suitable conversion funnel for my sector?
The definition of a conversion funnel, with its different stages, can make us understand that it can be more profitable and efficient to attract a more interested type of user and thus reduce the percentage of drops within other phases of the process.
Depending on the type of funnel you apply, you will have to consider some things or others. Here we explain them to you:
- In the first phase of the funnel, your objective will be to capture leads, that is, to convert a visitor to your website who reads some of your content into a lead. It is a simple and fast process since it consists of the user leaving their contact information while being laborious since you will have to commit many resources to improve the quality of your portal and attract the undecided public.
- The second phase is lead nurturing, also known as lead nurturing. It aims to improve the relationship with potential customers in our database. During this process, you will be increasing the interest of those potential clients in what you offer. To do this, you must know the interests of each of the contacts in the database and be able to offer them personalized content based on their interests and needs. If the prospect shows interest during that process, then it will be time to move on to the sales process.
- The sales funnel aims to convert contacts into customers through the purchase of your product or service. Once the purchase process is finished, you must maintain that relationship with the customer through, for example, advertising other products or services that they may be interested in and even offer exclusive promotions for their loyalty.
To find out which funnel is the most suitable for you, what we recommend is that:
Configure your metrics well. Analyze how you attract traffic to the web and keep track of your social networks, and you will see what results you get once users have viewed your content. Most of the current web analytics services, such as Google Analytics, offer phases of the conversion funnel to analyze them in detail. Make sure it's set up correctly and brush it up for weak spots.
It is also essential to know who your buyer persona is. Creating a database to segment your users into different profiles will help you define the characteristics of these buyers and thus adjust to their needs throughout the funnel.
Suppose you want users to stay with you by simplifying navigation. Ensure your website visitors can easily find what they are looking for and that the different steps in the funnel are clear.
Do a keyword study to work your content according to the most relevant searches according to users.
On many occasions, visitors may have doubts throughout the purchase process. If they don't find a quick answer, they may abandon your page. To prevent this from happening, you can include an FAQ page or a chat where you can answer your questions.
At the moment of truth, you have to have strategic planning that can be measurable and scalable and, above all, that can generate a business opportunity. Keep these recommendations in mind when optimizing your online marketing plan and finding the one that best suits your business.