The conversion or marketing funnel is an Online Marketing term that tries to define the different steps that a user has to take to fulfill a certain objective within the web, whether it is a registration, a purchase or the generation of a lead.
This video will help explain:
The conversion funnel serves to determine the percentage of losses in each of the steps that the user performs on your website until the final objective is reached, as well as which points should be optimized most urgently to achieve the conversion of the greatest number of users possible.
Let’s assume 4 steps that the user must follow until reaching the final objective: which in this case is the purchase. These steps would be to enter the website, enter a product page, add a product to the cart and pay for it.
As you can imagine, at the beginning of the process the initial number of users is large, but part of these are lost throughout the funnel process: those who do not enter the product page, those who leave without adding a product to the cart, of these, those who leave before making the payment, etc.
In this case, we imagine that from the first to the second part of the funnel (let's say that this is the product payment phase), we would be losing a significant number of users, so we must analyze the reasons for this fact, and thus increase the number of users who complete the process of this conversion funnel.
The most important thing about this type of technique is that it helps us to detect improvement elements in a very powerful way, as well as to extract other valuable information for our online business. Our efforts would be directed to detect our weakest points and thus optimize the whole procedure in the right way.