The importance of the conversion funnel
Anyone with minimal knowledge of the business world has ever heard the term “conversion funnel.” It is a key concept in the world of digital marketing, and not only for e-commerces. In this article I will indicate the different stages of the conversion funnel as well as its different utilities.
What is the conversion funnel?
It is an online marketing term directly related to the achievement of the objectives set by the companies. The funnel determines the different steps that users will follow until they convert, either buying a product or submitting a form. In addition, considering that of all the users that enter a web very few in the end they will convert, the funnel name suits him very well. Each step is narrower than the previous one, so you have to try to widen it, right?
How many steps does the purchase funnel have?
There are many ways to see the funnel when we talk about its stages and steps, I like to divide it into three phases, which I will detail below:
- TOFU: This is the top of the funnel. At this point we have a large number of users, attracted to our website through the content developed on our website. At this point you cannot launch any offer or any action, since the public will be too heterogeneous.
- MOFU: Middel of the funnel. Users of our website already know what they need and reach this second stage of the funnel. It is important to have clear the needs of your buyer person, then I will talk about these, in order to offer them what they need. At this point it is advisable to offer higher quality content in exchange for information, that is, we are looking for a lead.
- BUFU: bottom of the funnel: the narrowest part of the funnel, which closes the sales cycle. At this point we will only have users really interested in our products or services.
Having clear on the different steps that your users have to follow to make a purchase or a contract, it will be easier to offer them what they need. An example of an online store’s conversion funnel would be: Access the web> go to the store section> see a product> add a product to the cart> different stages of checkout> purchase.
What is the buyer person?
It is a term that is very fashionable in recent years in the world of digital marketing. It is about making a representation of our final or potential consumer. This representation is constructed with demographic, personal, professional, needs and behavioral information.
Below I show a possible example. It is about giving a brushstroke to our target user, not defining it 100%. I am sure you can identify the example shown with someone you know:
Buyer person 1: José works in a digital marketing agency in Madrid, in an intermediate position. It is responsible for managing the strategy of several companies and has weight to make decisions both in your company and in your projects. He is 26 years old and has spent almost all his professional life linked to the digital world. He has a digital marketing master and a web usability graduate. Study constantly, reading blogs, attending talks … to be updated in your sector.
Together both terms, buyer person and conversion funnel, it will be necessary to achieve the objectives set. After all, if we know who we are looking for, we do know what they are looking for, we know what we have to offer.
What can the development of a conversion funnel help us with?
There are many things that we can improve or learn thanks to the implementation of this concept:
When do users fall from the funnel ?: If we have an online store and see that on the checkout page we lose many users, it can indicate that this page is not well designed or that the process is too complex.
Detects errors and areas of improvement: we continue with the previous point. It is also necessary to change the payment gateway, put it inside the web instead of sending it to an external website, or perhaps we have to make it easier for users.
Greater efficiency: with the passage of time we will realize that it is likely that by making an extra effort in some of the stages of the process, encourage buying, encourage filling out a form, we can increase our conversions considerably.
The importance of the conversion funnel is beyond doubt, especially if we join it with the creation of the buyer person, to make it more efficient. It is not intended solely for online stores, as many people think, if you have a website and some conversion marked, called, form … a funnel will help you grow.
I hope this article on the importance of the conversion funnel will help you increase your website conversions. If you have any doubts about it, if you don’t know how to focus it, don’t hesitate to write to me. Throughout my years as an SEO specialist I have designed and planned a large number of conversion funnels for different types of businesses.
See you in the next article!