You may have heard of a marketing funnel, often referred to as a buyer’s journey or a purchase path, which is a term used to describe the process that a consumer usually goes through from start to finish when purchasing a product or service.
The concept was first introduced by marketer and digital strategist Andy Crest in his book The Funnel Whisperer in 2016. The idea behind the funnel is to get the consumer to take some kind of action (i.e., to click on a link, to fill out a form, to buy a product, etc.) as close to the end as possible. In Andy Crest’s words: “The closer you get to the end of the funnel, the fewer drops of drips in your conversion rate.”
Marketing funnels help businesses determine the best course of action for customer engagement and determine appropriate customer segmentation. The idea is to move as many people as possible through the conversion funnel and then retain them in some form, be that as a paying customer or a brand advocate.
Benefits of a Marketing Funnel
There are several benefits to having a marketing funnel, especially if you’re using A/B testing to optimize the process. Here are just a few examples.