Conversion funnels help businesses clarify the best paths to getting a user to complete a sale or perform an action or a task.
A conversion funnel is the term that describes the steps in a consumer's journey. The shape of a funnel represents the gradual decline in the number of contacts who reach each step. Not all site visitors continue through the end of the process.
Each company may have its own conversion funnel model, depending on the type of business and its overall goals. Typically, conversion funnels all begin with generating awareness of the product among an audience. This can come in several forms, including an Internet search or a clickable online advertisement. Paying close attention to the click-thru rate, or to the number of visitors who clicked on a specific link, will help you determine what methods work best for this first step. After that, you need to set the final step, which corresponds to the goal of the journey, and any steps in between.
Once a conversion funnel has been set, you can see the conversion rate and the steps followed by your contacts to perform a task. The shape of the funnel lets you see quickly which steps in the process are more effective and those that need to be improved. And you can act on these results to reduce abandoned or unsuccessful journeys.
For example, the conversion funnel for an E-Commerce site could start when a product is placed into the shopping cart, and end with confirmation of the order. The conversion funnel here could allow you to define where visitors quit the most and see to improve that step.
The steps to be part of your conversion funnel are all up to you. It all depends on the information you want to collect and the goal to reached.
Here are a few examples of use:
When clients fill in a subscription form, you can invite them to update their profile in the thank you message, or send them a rebate coupon. Then, you could send reminders to clients who have not completed their profile. To do so, you could create a marketing automation campaign that would target all clients that have subscribed but have not yet completed the process by defining their profile.
If your website promotes the same product on different pages, it is important to transfer to the sales department all the visitors who have viewed each and every of these pages. You might also want to invite visitors to visit other pages.
In a business workflow that includes multiple steps, you probably want to know where clients quit. To do so, it is useful to set up an A/B Split campaign to determine which scenario shows the best results.
You could also want to give points to your contacts based on the number of steps they have completed, or to contacts who have completed one or more steps. These points can be calculated manually, or set by our scoring system.