Conversion Funnel

What does Conversion Funnel mean?

A Conversion Funnel (or sales funnel) is a visual representation of the stages that potential customers go through before completing a desired action, such as making a purchase, signing up, or subscribing. The funnel metaphor illustrates the gradual narrowing of prospects as they move from awareness to conversion.

Common stages in a conversion funnel include:

• Awareness: Prospects become aware of a product or service through marketing efforts or discovery.
• Interest: Interested prospects seek more information and engage with content or offerings.
• Consideration: Prospects evaluate options, compare features, and weigh the benefits.
• Conversion: Prospects take the desired action, such as making a purchase or filling out a form.
• Retention: After conversion, efforts focus on retaining customers and building long-term relationships.

Conversion funnels help businesses analyze and optimize their marketing and sales processes to improve conversion rates and customer retention.