A marketing funnel, also known as a sales funnel or conversion funnel, is a model that represents the stages a potential customer goes through when making a purchase. It is called a funnel because, just like a funnel, many people enter the top, but only a few come out of the bottom.
The typical marketing funnel consists of four stages:
- Awareness: At this stage, the potential customer becomes aware of the existence of a product or service. This can happen through various channels such as social media, advertising, search engines, and word of mouth.
- Interest: Once the potential customer is aware of the product or service, they start researching and gathering more information about it. They might visit the company website, read reviews, compare prices, and engage with the brand on social media.
- Decision: At this stage, the potential customer has decided that they want to buy the product or service. They might add it to their cart, fill out a form, or contact the company for more information.
- Action: This is the final stage, where the potential customer becomes a customer by purchasing. The company delivers the product or service, and the customer may leave a review or become a repeat customer.
The marketing funnel is useful for businesses to understand the customer journey and identify areas for improvement. By analyzing each step of the funnel, businesses can optimize their marketing strategies to attract and retain more customers.
