Owning a business means understanding how to present your product or service effectively to potential customers, encouraging them to make a purchase or engage with your services. If you’re versed in marketing analytics, you’re likely familiar with the term “funnel.”
Curious about what a funnel is and how it can benefit your business? Keep reading to find out.
What is a Funnel?
Consider your website’s main goal: you want visitors to take some kind of action, whether it’s to purchase, sign up, fill out a form, or enroll in a class.
This desired action is known as a “conversion.” Essentially, it’s when a visitor transitions from just browsing to taking definitive action. A funnel is the journey a visitor undergoes to reach this conversion point.
A classic example is the Amazon purchase funnel. A customer must visit the website, view a product, add it to their cart, and complete the purchase. Other actions, like visiting the ‘about’ page or viewing other items, exist but aren’t considered primary steps in the funnel. The funnel focuses on the necessary steps leading to a conversion, starting broad and becoming narrower as the potential customer moves closer to the commitment stage.
The Purpose of a Funnel
The concept of “widening the funnel” means expanding your reach to engage a broader audience. A funnel isn’t just for direct sales; it’s also applicable to actions like newsletter sign-ups and other forms of conversions. The key is to align your funnel with the actions you want your website visitors to take.
Real-Life Funnel Examples
Funnels exist both in digital and physical retail environments. For example:
- Retail Store Funnel: Customers see ads, visit the store, browse products, add them to their cart, and complete the purchase.
- eCommerce Store Funnel: Visitors land on your website, view products, add them to their cart, and finalize their purchase online.
- Social Media Funnel: Users click on an ad, read your landing page, provide their email, and eventually make a purchase or subscribe.
Streamlining Your Website for Better Conversion
It’s crucial to make your website as user-friendly as possible. This means clearly defining the desired actions for visitors and simplifying these processes to boost conversion rates. The easier it is for visitors to navigate and complete actions on your site, the higher your conversion rate will be.
I hope you find this information useful. If you’re looking to delve deeper or have specific challenges in your business, I’m here to help. Click here to schedule a call with me, and let’s work together towards the success of your business!