In the present day of business, digital marketing has become indispensable. Much importance is given to the digital marketing funnel. The business scenario has changed with digital marketing.
Digital marketing is gaining popularity for several reasons, and business people are taking advantage of it.
The conversion funnel happens to be a visual view of the customer journey that does lead them to make purchases, subscribe, or even sign up to use a product or service. Visually, the conversion funnel is typically depicted as a wider funnel at the top and also narrowed at the bottom.
Customers are converted when they tend to move from the top to the bottom of the respective funnel. The top-to-bottom funnel journey does indicate a gradual decrease in customer stages, thus addressing acquisition as well as retention.
What are the 3 levels of the digital marketing funnel?
The conversion funnel happens to be divided into three levels:
- Top of funnel (TOFU)
- Middle of funnel (MOFU)
- Bottom of funnel (BOFU)
All these respective terms do refer to the level of indulgence customers have with the product at different stages of making a buying decision:
1. Top of funnel (TOFU)
The top of the funnel does in fact represent the stage during which a lead lands, whether via an internet search, online advertising, or other means, and also does navigate to one’s application or website, but one may be unsure about the requirements or exact needs.
Customers do spend time viewing various online products and sites to decide what works best for their needs.
2. Middle of funnel (MOFU)
At the middle-of-funnel stage, the lead does listen to the brand, stays connected with them via trial email subscription, and is also fully aware of the products to some extent.
The middle of the funnel is also referred to as the consideration stage. Customers do of course, know their expectations, so they are indeed likely to bounce if they cannot relate to the value or quality of the brand, site, or product.
3. Bottom of funnel (BOFU)
The bottom of the funnel is considered to be the narrowest part and also contains the most highly qualified leads that are close to making their final buying decision. Thus, the bottom of the funnel is also referred to as the stage of nurturing leads.
What are the 4 stages of the conversion funnel?
The stages of the conversion funnel do, no doubt, depend on the type of business. It is divided into four levels:
Each stage indeed has its purpose, but they all have a single goal: to draw customers to the final conversion. Each stage does become very important and also demands a good customer experience in order to improve stickiness and session time until a lead meets conversion.
The awareness stage does pull visitors in by raising awareness about one’s product, services, and website. To start with, it is important to determine the sources that do bring traffic to one’s site. The next step is to develop tactics in order to attract more customers from these as well as other sources. Facebook pages do generate leads and brand awareness.
Once leads are brought to the website or made aware of one’s product and brand, interest is the key to moving them to the next funnel stage.
If leads do not find the brand appealing, they will bounce quickly from this stage.
The context of desire does revolve around benefits, values, status, and pride associated with one’s brand that a user can swear by.
Once desire is activated, a brand needs to be nurtured and these highly qualified leads do move down the funnel and also convert. Workflow campaigns, sample strategies, and personalized content camping are a few techniques to keep these qualified leads coming back to one’s product, site, or brand often.
Action is the final stage, where conversion as well as basket size matter. During this stage, one positions the brand, offers, or value straight to the customer so that they end up not only buying but potentially buying more (up-selling) as well as other products in one’s portfolio (cross-selling).
Digital marketing is an essential component of today’s modern business world.