Conversion funnels are one of the most powerful tools in a marketer’s toolkit. They are rooted in digital strategy and customer experience in a way that leads to increased sales, consumer loyalty, and boosted brand recognition.
Below, we explain what a conversion funnel is, the strategies to employ, and what it takes to successfully convert leads to loyal consumers.
What are Conversion Funnels?
A conversion funnel refers to the path that turns a customer that is unaware of your brand into a paying customer. To be successful with your conversion funnel, you need to start with some standard market research. Identify your key consumer demographic, what their needs are, and what your most successful competitors are doing to attract, gain, and retain consumers. After gathering all this information, you might find that your product descriptions need improvement to reduce bounce rates, your video content performs best, or you need to employ more personalized messaging.
By analyzing the market, as well as your strengths and areas of improvement, you can create a highly effective marketing strategy that will result in more conversions and sales.
The 3 Stages of Conversion Funnels
Conversion funnels can be separated into three specific phases: the top, middle, and bottom of the funnel. The top of the funnel is often referred to as the Awareness Phase. In this stage of the process, you receive surface level brand recognition and engagement from potential leads. Maybe they came across your ad on social media or found a trending blog that provided useful information. Either way, you’ve landed on their radar. So, now you have to keep them there.
The middle of the funnel is the stage in which potential customers engage on a deeper level. They want to know your brand better and find out if it aligns with their lifestyles. They might even follow you on social media or subscribe to your eblasts to gain more information. For these reasons, this phase is called the Consideration Phase.
Once you’ve captured their attention and sold them on why your brand is right for them, the next step is the Conversion Phase (aka the bottom of the funnel). In this phase, the lead is ready to make a purchase and
Marketing Strategies for All 3 Phases
From the top of the funnel all the way to the bottom, every marketing tactic for conversion funnels should be well-planned and thought out. Here are some marketing strategies that we’ve seen work best for each phase.
Awareness Phase (Top of the Funnel): Because you are trying to capture their attention without any previous exposure, punchy ads and targeted email lists work well for this phase. Remember, the Awareness Phase is all about grabbing their attention and presenting them with something they need.
Consideration Phase (Middle of the Funnel): Now that you have their attention and they’re interested in what your product or service can do for them, you need to sell your brand. To do this, you can send personalized emails, offer enticing discounts and deals, feature useful, easy-to-access content on your blog, or share a variety of engaging videos and photos on your social media platforms. The goal of this phase is to keep them interested, make them desire your product or service, establish a sense of trust, and, ultimately, commit to making a purchase.
Conversion Phase (Bottom of the Funnel): The moment you’ve been working towards has arrived — you have successfully gained a new customer! That being said, this phase should be focused on leaving a positive first impression. To do this, you might offer a discount code to use on a future purchase or create a simplified shopping experience. Both of these strategies have been shown to win consumers over, increasing the likelihood that they’ll be a returning customer.
Implementing Successful Conversion Funnels that Land Customers
Need help creating effective conversion funnels for your business? Connect with our team today to build a marketing plan that will effectively move prospective customers from the awareness stage of the conversion funnel to the conversion stage!