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Conversion funnel: what it is, what it is for and how to create it

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Conversion funnel: what it is, what it is for and how to create it

From the outset, the purpose of this article sounds ambitious. However, it is not so; because everything about the concept of “funnel” is relatively easy to understand if you put things in order and in place from the beginning. If you start from the knowledge of the fundamentals, assimilating everything will be much simpler.But we’re not saying mastering funnels is easy, not at all. What we say is that understanding the concept is not that complex. And knowing that is a good start, because in order to assimilate any Netherlands Phone Number List action, it is advisable to first understand it. Only then can mastery be achieved for planning and implementation in the real world.Mastering conversion funnels as a marketing tactic requires a lot of experimentation, but when it is achieved it opens the doors of business success; because a well-planned and implemented conversion funnel is a very powerful tool for companies.

The marketing digital exploded when he invented the funnel What we did when the internet was born – which we also called digital marketing – before the invention of the conversion funnel, was not very different from what was done in traditional marketing . In those days, we simply used digital channels to transmit a business message – practically the same thing that had been done in the analog media (radio, press or television) -. Digital added a bit of interaction and some deep segmentation, which made it more efficient, but nothing surprising when compared to what we can do today. But with the arrival of the conversion funnel, everything changed … for the better.

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From that moment, the efficiency levels of digital marketing exploded and smart businesses – those that embedded the concept of conversion funnel in their DNA – took a significant leap in quality. In fact, if we were forced to define digital marketing in one word today – a difficult and unfair exercise – we think we would choose “efficiency.” A specific definition that we like and that is the direct consequence of the invention of funnels. The marketing digital compared to analog, was efficient from birth; but the word efficiency was a little over the top in the early stages. Now, with the heyday of conversion funnels, digital marketing has become truly synonymous with efficiency.

It is truly amazing what can be achieved today with a well planned and designed conversion funnel. With it, the optimization capacity of digital marketing actions has reached an incredible level. Currently, thanks to the conversion funnel, digital has managed to increase the commercial results of companies, reducing effort and resources to a minimum. Fantastic! Because with that possibility in our hands – if we develop the skill and acquire the necessary knowledge to get the most out of it – we will increase the Forex Email List performance of the products or services in the market and we will compete face to face with solid and established companies. Understand the customer journey to design a good conversion funnel Before asking ourselves about conversion funnels or trying to understand them, we need to know the concept of ” customer journey ” – consumer journey . Without a deep assimilation of this, it will be really difficult to understand conversion funnels.

To keep it simple, the customer journey is the modernization of a fairly old theory known as the purchase decision process; which was first enunciated by the American pedagogue, psychologist and philosopher John Dewey , in 1910. The original approach contains an excellent definition of the customer journey : no matter what it is, we all follow a relatively similar shopping path.

The consumer journey or the purchase decision process is, then, the description of the steps that a person goes through when they are buying a good or a service. Now, what are those steps that we all follow, that John Dewey identified and that digital marketing modernized under the name of customer journey ? They are as follows:

Acknowledgment of the problem or need: This is the first step — and perhaps the most important. Nobody buys anything for sport – well, yes, there are idle people who spend to spend, but we think they are the exception. When it comes to buying, we all go through a preliminary stage in which we realize that we have a problem or an unmet need. And that recognition of the problem or the need comes from an internal stimulus – you make you hungry or feel insecure – or external – you see an advertisement or a friend makes a recommendation. Search for information: after detecting the problem or need not covered, we generally set ourselves to investigate possible solutions. Some, with great diligence and depth; and others, more superficial. The fact is that we all go through that stage when we are making a purchase decision.

Evaluation of the alternatives: with the processed information, the next step is to weigh the options and put them to compete with each other to find the pros and cons of each one of them. For people, this is the most boring stage of the process; because it requires a lot of thought and time – the scarce resource today. This is when many people look for the shortcut: the recommendation of a third party – known or unknown but with a good reputation on the subject at hand. Basically, this is the phase of the process that gave birth weight and marketer to influencers .
Purchase decision: with the alternatives faced, we move on to the fourth step of the purchase decision process: buy! This is when the transaction takes place. At this stage, the person goes to the market — an online or physical store — with his money or credit card in his pocket and buys what will solve his initial problem or need.
Post-purchase behavior: finally, with the purchase in hand, the customer will live an experience – positive or negative. Depending on this, a relationship of loyalty and promotion or disagreement and complaint will be created … and will make it visible to your environment. In other words, in this last stage of the purchase decision process, companies win a fanatic or a detractor.
What we just described is a quick and practical summary of what the customer journey is , the cornerstone for the creation of a conversion funnel.

Now yes, what is a conversion funnel?
Smart companies understand the consumer journey and design communication and marketing tactics to be present throughout the purchase decision process. Because if they isolate themselves from people at one stage and focus only on the moment of the final purchase decision, they will be at a disadvantage with the other businesses that did accompany the person on their journey. That’s when the conversion funnel comes into play. A conversion funnel is nothing more than operational translation in marketing of the customer journey . What? Again: a conversion funnel is the idealized representation of the marketing actions that a business executes to accompany the people it wants to have as customers while they make the consumer journey. Simpler: the conversion funnel is a digital marketing methodology that is used to guide people towards the purchase of a product or service, from the moment they discover their need to consumption.

What is a conversion funnel for?
So far, we have been quite insistent that the main benefit of the conversion funnel is that it improves the efficiency of marketing in business. But we have not explained how it does it. Well, below we will present our five arguments that demonstrate the way in which funnels improve the efficiency of marketing actions :

They discover potential customers at an early stage: a well-designed conversion funnel will put us in front of people even before they realize the need or the problem. The digital world has shown us that algorithms are very powerful in predicting behavior and, thanks to them, our conversion funnels will make the business appear in a subtle way in the eyes of a prospect in the moments when they discover the need.

Increase the relevance of the message: conversion funnels are used to design actions for each stage of the purchase decision process. Therefore, people will come across content adapted to the scenario they live in each moment. That raises the relevance of the business message, because the communication will focus on what the potential buyer wants and is willing to consume. They personalize the offer: the above also applies to the product or service offered. If we know the stage that the potential buyer is going through at all times, we will be able to make visible the elements of our offer that best suit their situation. People will feel that we understand their scenario and that we react to their needs or problems with a tailored product or service.

They identify sticking points: Conversion funnels have a precise metric – like all digital marketing actions . Then the marketing team will be able to learn reliable data about the people at each stage of the customer journey . In addition, you will be able to identify the vanishing points – which in marketing parlance are called friction points along the funnel.-. Thanks to this we will know: how many people have the problem or need that our offer solves, how many of those people found us, how many considered us, how many bought us and how many had a positive or negative experience. With that data, we will discover the funnel design problems and adjust to reduce those small frictions in the passage from one stage to another.
They reduce the waste of resources: the previous four points serve to reduce the resources needed to achieve the result. Why? Simple: we will not stitch without a thimble. We will be casting our hook on a school of fish that we have built ourselves. A marvel!

The three parts of a conversion funnel
The parts of a funnel are very easy to understand if the customer journey is properly assimilated , because they were created to translate the five stages of the purchase decision process into marketing language . Each part of the conversion funnel will handle a detailed package of actions that attack one or more stages of the consumer journey. The three parts of funnel are: TOFU ( top of the funnel or upper part of the conversion funnel), MOFU ( middle of the funnel or middle part of the conversion funnel) and BOFU ( bottom of the funnel or lower part of the conversion funnel ). TOFU : the top of the conversion funnel The top of the funnel is made up of the group of marketing actions that are responsible for catching people in the discovery and attraction phase. In the marketing world , actions in this part of the funnel are called awareness efforts – awareness or knowledge.

Here are located all the tactics with which the company helps people to discover that they have a need and those that guide them in that first approach to the problem. Trying to sell at this stage is nonsense, because in the potential buyer’s mind there are only doubts. So, the convenient thing, from the point of view of marketing , is to support the individual in clarifying things and show him that others have already gone through that problem and have been able to solve it. The most efficient actions for this first part of the funnel are: content marketing , organic efforts on social networks, search engine optimization and advertising not designed to sell, but to contribute. The marketers who want their brand, product or service stand out in the early stages of the buying decision process will have to focus on providing value. The TOFU is the ideal place to introduce yourself to people with articles, webinars, or social media posts that teach something. The TOFU is not the place to propose a business, show an offer, or insist on a transaction.

Stay away from the masses! Learn to segment in digital marketing. Let’s explore the new possibilities of advertising by developing strong personal buyers to segment in digital marketing. Stay away from the masses! Learn to segment in digital marketing Let’s explore the new possibilities of advertising by developing strong personal buyers to segment in digital marketing. MOFU : the middle part of the conversion funnel The middle of the funnel is made up of the marketing tactics that will make the potential buyer consider us as an interesting option to solve their problem or need. This is why we marketers call this part of the conversion funnel the consideration stage. The main purpose of this part of the funnel is to establish contact with people beyond adding value. Here we present ourselves as a viable alternative and strengthen our proposal by focusing on the competitive advantages of the product or service. In this second part of the funnel, we face the competitors directly. This is the time when people compare options and begin to make a firm purchase decision. The best thing here is to direct the potential buyer’s attention to the elements that make us the strongest candidate in the deck; emphasizing our strengths and minimizing weaknesses. The challenge of this part is to start building a trusting relationship and creating closeness with the prospect.

The recommended actions for the second stage of the conversion funnel are: create landing pages for each product, share cases or customer testimonials, make honest comparisons, show the products in action or make visible the credentials and certificates of the products or services. What we are looking for in the middle of the funnel is to earn people’s trust and credibility. For those, we must reach the potential buyer with good messages. The best weapons of digital marketing for this part are: the blog, social networks, remarketing and, in some cases, email marketing . The MOFU is the ideal temporary space to share infographics, case studies, white papers and everything that positions the business as a leader or expert in solving the problem or need facing the person. The bottom of the funnel is the part of the marketing process in which the purchase and future commitment of the customer with the product or service happens. Because of this, most marketers identify it as the conversion phase. Here our funnel becomes a skilled salesperson. The first of the objectives of this part of the funnel is to achieve the sale, to get the person we have been accompanying for a long time to finally decide for us and the transaction takes place. Then, the next thing is to monitor the customer experience so that – if it is positive – it helps us to convince other people who are traveling through the funnel or to – if it is negative – to react and correct the failures of the process or product or service.

In the BOFU , income is obtained and loyal customers are consolidated. The convenient thing in this part of the conversion funnel is to design marketing actions that help to strengthen the relationship with the client, to understand their particularities and to fine-tune the product or service so that it meets what the person needs. The BOFU is a good place for tutorials, usage demos, or any content that helps people get the most out of products or services. Within the digital world we have good scenarios or specific actions for this stage: private groups of clients on social networks, newsletters , digital service channels (such as WhatsApp, a forum or a chat), among others.

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