What is a Conversion Funnel?

A conversion funnel tool allows your company to visualize how potential customers flow through your sales process. Compass by The Harris Poll helps perform conversion funnel analysis in order for you to understand and improve how your audience interacts with your product or service. This insight will help you to meet your business goals by harnessing brand intelligence. Request a demo today!

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Written By: Taylor Weeks

Published: 2/19/20

screenshot of the conversion funnel tool within Compass

Sales Funnel Software

Compass is a new way of knowing where your company stands with its audience based on quantifiable brand metrics. With our sales funnel visualization tool, you can identify the level of attrition and engagement occurring at each stage of the purchasing process. To really understand conversion funnel marketing, however, you need to know the role each stage of the funnel plays in your audience’s buying decision.

Awareness

The awareness stage is the largest part of the conversion funnel because you are casting a wide marketing net to attract the maximum amount of potential customers. Whether it’s organically or through paid media, your audience will find your marketing collateral and land on your site, or in your store, to either go further down the funnel by taking another desirable action or exit it.

Familiarity

In this stage, your business has customers who are interested but may have questions or pain points that have not been addressed. They are interested in taking the next step and actionable copy or brand interaction is important to begin clarifying those questions and addressing the pain points they may be experiencing. This is vital to keeping them in the funnel as they evaluate if your product or service offering meets their needs.

Trial

Your goal here is to build on the interest generated in the previous stage. Highlight how your product offering solves your potential customers’ pain point and why it does it more effectively than your competitors. Your company can do this using high-level content like product videos, demos, and more.

Usage

In this stage, your qualified leads become customers because they have taken your desired action, whether that be that they purchased an item or interacted with a service offering. Only a small percentage of your audience will make it to this stage, but there are ways you can optimize your conversion funnel to drive more people here.

Recommend

In this last stage of the conversion funnel, your audience has already interacted with your services and are reasonably happy with how they resolved their pain points. Now, it’s important to encourage them to recommend your services to other people who are experiencing the pain point they once had.

Conversion Funnel Analysis

The Compass Conversion Dashboard helps you visualize and map the flow of your customers purchasing behavior in order to give you a full understanding of what motivates them to convert. These brand performance insights from our sales funnel tool will help you to optimize certain stages of your funnel to drive conversions and boost sales.

graphic symbolizing conversion funnel analysis
graphic representing conversion funnel optimization

Conversion Funnel Optimization

In order to optimize your conversion funnel, you need to focus on creating brand awareness and boosting your brand equity to generate interest. Learn how you can engage your audience more effectively throughout the conversion funnel with Compass today by requesting a free demo!

Harris Clients

Available for a fraction of the cost of custom research

Subscriptions to Compass offer you continuous, real-time tracking on five brands. With your membership, we will collect over 10,000 interviews per brand, giving you a robust ability to conduct pre-/post-testing and dive deep into various customer groups.

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