A Conversion Funnel is a visual representation of the process that a potential customer follows from the awareness stage to the decision stage. Throughout this journey, leads go through different stages, and it is essential to understand each one of them.
- Awareness (TOFU – Top of the Funnel): At this stage, users become aware of a need or problem. They are anonymous leads that visit your website or interact with your content. Relevant inbound marketing strategies at this stage include the creation of relevant content through the corporate website and social media, in addition to SEO strategies. Lead nurturing actions could include downloadable content (e.g., ebooks or guides) in exchange for contact information.
- Consideration (MOFU – Middle of the Funnel): Here, leads are researching solutions specific to their need. They have provided their contact information. Therefore, inbound marketing strategies will include the creation of more detailed content (e.g. webinars, case studies or product demos), detailed segmentation, personalizing messages according to the leads’ preferences and behaviors. – Lead nurturing actions in line with this strategy will therefore focus on the specific actions of each lead.
- Decision (BOFU – Bottom of the Funnel): Leads are ready to make a decision. They compare options and consider buying. Inbound marketing strategies should focus on converting leads into customers, for example by sharing testimonials or studies of satisfied customers, and offering personalized discounts or free trials. Lead nurturing actions in this last stage include sales automation, sending personalized reminders or discounts, and close follow-up and quick responses to potential customer inquiries and concerns.
