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Conversion Funnel

What Is Conversion Funnel?

The conversion funnel (CF) is a model that shows the sequence of steps people take from being interested in a product to actually buying it. 

What Are The Key Elements In The Funnel?

CF stages include:

  • Awareness. Your name is out there; the audience knows you and your product.
  • Interest. Someone becomes intrigued by your offer and starts wondering about it, looking at reviews or articles about products like yours, reading customer testimonials, etc.
  • Consideration. Prospects are actively weighing their options.
  • Action. Prospects choose the product and move forward.
  • Loyalty. A client re-enters a conversion funnel eCommerce has created (buys something).

Conversion Funnel In eCommerce

An eCommerce CF is a path a prospect takes from entering the website to completing a purchase.

What Is Conversion Funnel Analysis?

It is a practical way to see how visitors interact with your business. This may include identifying the points of their maximum motivation and tracking drop-off points.

To conduct a funnel conversion analysis:

  • Track people moving from one stage to another.
  • Identify from where they come.
  • Analyze their behavior (focus on drop-off points).
  • Compare them against one another to see if there are any discrepancies.

Why Analyze Funnel?

Every eCommerce business aims to flourish, and CF optimization is a straightforward way to do it. It is a sequence of steps, each of which represents an opportunity to transform visitors into customers. It is essential to determine how the customer journey breaks down and take steps to address that problem.

 

CF Frequently Asked Questions

What is AIDA funnel?

AIDA funnel is a strategy that works with the customer’s behavior, motivation, and attention to make a sale. It is an acronym for Awareness, Interest, Desire, and Action.

What is TOFU?

Top-OF-FUnnel — the CF’s first and broadest part. Capture attention and interest while building trust and credibility through content.

What is MOFU?

Middle-OF-FUnnel — the SF’s stage at which the purchase is most possible, but not yet guaranteed. The goal is to get them to take an intended action. It’s often referred to as “the checkout funnel” and is focused on nurturing potential customers.

What is BOFU?

Bottom-OF-FUnnel — the ultimate stage of a buyer’s journey. May involve direct sales and marketing efforts that address visitors right before they’re ready to buy. To maximize ROI on your BOFU campaigns, include plenty of personalization and targeted messaging that speaks directly to your consumers’ needs and interests.

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