The consumer purchase funnel, also known as the marketing funnel or simply the sales funnel, is a tool used by marketing and sales professionals to track the progress of their potential customers from initial awareness of the product or service through to purchase.
At each stage of the funnel, there are typically different marketing and sales activities that need to be undertaken in order to move the customer closer to purchase. For example, at the top of the funnel (TOFU) activities might include creating awareness of the product or service through marketing campaigns such as advertising, PR or content marketing. As potential customers move down the funnel (MOFU), they might be engaged with more targeted marketing activities such as email marketing or retargeting ads. Finally, at the bottom of the funnel (BOFU), sales activities such as product demos or free trials might be used to convert potential customers into actual paying customers.
The consumer purchase funnel is a useful framework for understanding the journey that your potential customers take from awareness to purchase. By understanding the different stages of the funnel, you can tailor your marketing and sales activities to match the needs of your customers at each stage. This will help you to generate more leads, conversions and ultimately, sales.