What is a funnel?
The conversion funnel is a very common term in marketing, both for offline and digital marketing. It details all the processes that a user follows in your shop, whether it is adding a product to the cart or completing a form.
With the conversion funnel, you can see how your prospective clients behave and see at what point they leave your site and implement strategies to improve your conversion rate.
But what is the conversion rate? Conversion is a term that relates the number of users that a store has and those who finally buy. It is expressed as a percentage and is calculated with a simple rule of three.
It is calculated as follows: (No. of purchases/No. of users)*100
Conversion funnel stages
To know at what point customers were carrying out the action, we need to know the conversion funnel stages.
- Acquisition: At this stage, is when you become known as a brand, you can do it through quality content, having visibility on Social Networks and even with newsletters.
- Activation: At this stage, you seek to retain the customer’s attention by offering them a unique and engaging experience on your website.
- Retention: At this stage, the customer is already interested in your product and your goal now is to keep them on your website. You can capture their attention through Leads or forms so that they provide you with their contact details and you can send them a discount coupon in case of opt-out.
- Sale: At this point, the visitor has become a customer. At this time, you must try to make the payment process as simple as possible to prevent the customer from getting distracted and leaving the cart.
- Reference: Customers are the best ambassadors of your brand. Why not invite your customers to leave you a review on the web or on Google?
Difference between conversion funnel and business cycle
You may have seen many similarities between the conversion funnel and the business cycle, but they are different terms.
On the one hand, the business cycle is a circular idea that consists of 3 steps: attract, interact and delight. The business cycle highlights the idea of being able to start a relationship with the potential customer at any point of the traditional funnel, building lasting relationships, improving loyalty and getting customers to fall in love with your brand and share your content and their experience on Social Networks.
Improve your funnel conversion
Responsive Web, your funnel success
Optimising your online shop is a key factor in the customer’s decision to buy from you. A sober and intuitive design that facilitates the purchasing process is key to a good conversion rate in your online shop. If the customer finds a cumbersome website with many difficulties for the purchase or registration and an excess of advertising banners, he may abandon your website, no matter how interesting your product or service is.
Inbound Marketing, the path to success
Inbound Marketing is a strategy developed by an American company that places the customer at the centre of each stage of the conversion funnel, making them the participant and protagonist of a unique experience.
How to create a sales funnel?
Once you have analyzed all the points defined above, it is time to create your own Conversion Funnel. There is a lot of software on the market that you can use to customise it, but we will introduce you to the most important ones:
- Google Analytics: Which helps you define tracking goals such as subscribing to newsletters, buying, adding a product to a wish list… It is a very versatile and easy-to-use tool that can help you define your objectives.
- Clickfunnels: This software provides you with templates to create customised conversion funnels.