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Model of theoretical customer journey toward purchase of a good or service

An example of a typical purchase funnel

The purchase funnel, or purchasing funnel, is a consumer-focused marketing model that illustrates the theoretical customer journey toward the purchase of a good or service.

In 1898, E. St. Elmo Lewis developed a model that mapped a theoretical customer journey from the moment a make or product attracted consumer attention to the signal of action or purchase.^[ane] St. Elmo Lewis' idea is often referred to as the AIDA-model, an acronym that stands for Awareness, Involvement, Desire, and Action. This staged process is summarized below:

Sensation – the customer is aware of the existence of a production or service
Involvement – actively expressing an interest in a production group
Desire – aspiring to a item brand or production
Action – taking the next step towards purchasing the chosen production

The purchase funnel is also oftentimes referred to as the "customer funnel", "marketing funnel", "sales funnel", or "conversion funnel". The association of the funnel model with the AIDA concept was outset proposed in Bond Salesmanship by William Due west. Townsend in 1924.^[two]

This early model has been modified by marketing consultants and academics to cater to the modern customer and is now referred to in marketing as the "purchase funnel" or "buying funnel". Many different business concern-to-consumer purchase models be in marketing today, merely information technology is mostly accustomed that the modern business concern-to-business purchase funnel has more stages,^[iii] considers repurchase intent, and takes into account new technologies and changes in consumer purchase behavior.^[four] ^[five] As a model, the buying funnel has been validated in a variety of domains, including searching,^[6] keyword advertising,^[7] and lead generation,^[eight] simply too modified to include previously unconsidered steps and metrics such as outbound sales, Internet impressions.^[9]

The purchase funnel concept is used in marketing to guide promotional campaigns targeting different stages of the client journey and as a ground for client relationship management (CRM) programs and lead management campaigns.

Conversion funnel [edit]

Similar to a purchase funnel, "conversion funnel" is a technical term used in e-commerce operations to describe the track a consumer takes through an Internet advertising or search organization, navigating an e-commerce website and finally converting to a sale.

The main elements of an online buy/sales funnel are:

Traffic sources (i.eastward. SEO, PPC, referral traffic, etc.)
Peak of the funnel (TOFU) which coincides with the traditional awareness stage
Eye of the funnel (MOFU) describing prospects in the consideration phase
Lesser of the funnel (BOFU) corresponding to latter life-cycle stages (i.eastward. decision, conversion, purchase)
Re-engagement paths – strategies and techniques meant to recover lost prospects/leads, commonly through retargeting ads or email marketing

The mod conversion funnel tin can accept many archway points, meaning people tin enter at whatsoever stage of their life-bike, they tin exit and enter again. This is why an effective online marketing strategy requires an omnichannel arroyo which combines diverse traffic sources, campaigns and re-appointment paths, and makes them piece of work equally one in society to finalize the buy and even lead to loyal customers or brand advocates.

Run into also [edit]

DAGMAR marketing
Sales process
Customer relationship management
Customer lifecycle management
Lead generation

References [edit]

^ E. Thousand. Potent, Jr. The Psychology of Selling and Advertizing. New York 1925, p. 349 and p. 9.
^ "The salesman should visualize his whole trouble of developing the sales steps as the forcing past pinch of a wide and general concept of facts through a funnel which produces the specific and favorable consideration of ane fact. The process is continually from the general to the specific, and the visualizing of the funnel has helped many salesmen to lead a customer from Attention to Interest, and beyond" (p. 109).
^ A modern purchase funnel concept - Marketing-made-simple.com (2009)
^ Courtroom, D. Elzinga, D., Mulder, S. and Vetvik, O.J., "The Consumer Conclusion Journey", McKinsey Quarterly, June 2009, Online: http://www.mckinsey.com/business-functions/marketing-and-sales/our-insights/the-consumer-determination-journey
^ Branding In The Digital Age - You're Spending Your Money in All the Wrong Places
^ Kules, Nib. "Speaking the same linguistic communication about exploratory information seeking." Information Seeking Support Systems xiii.v (2008): 17.
^ Jansen, B. J. and Schuster, South. (2011) Bidding on the Buying Funnel for Sponsored Search Campaigns. Journal of Electronic Commerce Research. 12(1), 1–18.
^ Wilcox, G., & Sussman, Grand. (2014). Lead-generating social media strategies using the social media operation model: The B2B connectedness. Journal of Digital & Social Media Marketing, two(i), lxx–78.
^ "How The B2B Marketing Funnel Works". world wide web.bizible.com . Retrieved 2016-01-06 .