Converting members of the general public into customers who benefit from their products and services has long troubled businesses. Those who get it correctly succeed, and those who struggle to grow their customer base eventually fizzle out. The marketing funnel is a graphical representation of the customer acquisition process. Originally the AIDA system (attention, interest, desire, action), the marketing sales funnel has been expanded to better map the modern consumer’s decision-making process. Here’s how the marketing funnel works from top to bottom:
Why Is It A Funnel?
Think about fishermen using fishing nets to catch their dinner. They start by throwing a wide net and slowly but surely pull it closer and closer until the hole is small and a few fish have been caught inside. The marketing funnel is thus named because it tapers in – from a large first portion where leads are being trawled regardless of how qualified they are, to a small final section where only a few of these unqualified leads will convert into paying customers. So, at every level of the marketing funnel, the number of leads diminishes.