Conversion funnel

Learn the definition and meaning of Conversion funnel along with an example

Conversion funnel
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Definition

It’s the path of a user from getting known to your brand name to becoming an active or paying customer. It includes all the different stages that a user goes through before becoming a customer.

Why is it useful?

Tracking people in each round of the funnel could only be a guesstimate. But it’s important to keep nudging people from the bottom of the funnel by giving discounts, coupon codes & more.

Example

Ken is a subscription-based business journalism company. Users don’t all of a sudden go & become their paying users. The first step is people hearing their names for the first time. It could be their social media channel, an Ad, or the like. Next, maybe they see its website page followed by reading its free posts, & eventually, after a few more multiple rounds of understanding their main value proposition, they finally decide to purchase their Ken subscriptions.