A Practical Guide to the Conversion Funnel

All businesses, no matter the size, face the same challenge: they need to sell their products or services.

It’s as simple idea, but it’s not easy. Businesses need customers to know they exist, they need to develop a connection and build trust, and they need to convince customers to make a purchase. The process of moving from a first connection to a conversion can be a complex journey.

In this article, we’ll focus on one way of thinking about the customer conversion process. And we’ll offer a variety of insights, metrics to measure, and tactics to use along the way.

What is a conversion funnel?

In business, a “conversion” is the desired action a business or marketer wants a potential customer to take. Typically, the action is making a purchase or starting a subscription.

Different models, known as “funnels,” show the customer journey from first contact with a business to a conversion. As discussed in our article about the marketing funnel, the shape of the funnel depicts the size of the target audience as they move toward a purchase decision.

As potential customers move through the funnel, the audience size decreases due to various reasons like disinterest, affordability, or competition. This funnel shape represents the narrowing down of the audience until only those who decide to convert remain.

ToFu, MoFu, BoFu: Conversion Funnel Analysis

Any conversion funnel, no matter the concept, can be simplified by breaking it into three parts:

• The Top of the Funnel (ToFu)
• The...