Conversion Funnel

The conversion funnel shows how a possible customer goes from learning about a product to buying it. It's called a funnel because fewer people move through each stage. The stages are Awareness, Interest, Consideration, and Decision. Some add more stages after the purchase.

Understanding this funnel helps businesses see where customers drop out. This lets them improve their sales efforts. For example, if people leave at the consideration stage, the business might need to explain their product better. Different marketing is used at each stage. Early on, it's about awareness. Later, it's about solving final doubts.

In business sales, the funnel is often longer and more complex than in consumer sales. It may involve more decision-makers and longer thinking times. Numbers play a big role in managing the funnel. Businesses track how many people move between stages to see how well it's working.