What is The Difference Between Sales Funnel, Conversion Funnel And Marketing Funnel?

What is the difference between sales funnel, conversion funnel and marketing funnel?

How will you differentiate between sales funnel, purchase funnel and marketing funnel?

Purchase funnel and sales funnel are similar and can be used interchangeably. These terms have the same origin.

Sales funnel versus marketing funnel The biggest difference between the two seems to be the context of use. It could be a sales environment or marketing environment. Businesses have divided sales and marketing into two different departments.

Thus, two different journeys depict the progress of visitors and clients in terms of marketing or sales. Although, the trend has changed now as sales and marketing departments are integrating. As a result of this, there is a blurred difference between the two terms.

MARKETING FUNNEL At the top of the marketing funnel, visitors are divided according to the interaction between the website and visitors.

Subsequently, as we move down the funnel, the most important thing is to determine the visitors.

Following stages increase awareness and create interest in the company’s offerings.

Sales and Marketing Funnel - AIDA model

1.

2.

3.

4.

Awareness Interest Desire Action

In 1898, Elias St. Elmo Lewis, proposed AIDA model. After the advent of the Internet, it is changed into: 1.

2.

3.

4.

5.

6.

Awareness Interest Consideration Intent Evaluation Purchase

SALES FUNNEL Sales prospect is the visitor who is entering the sales funnel.

Sales automation tools allow the building of custom scoring model which automatically transform the visitors from the top of the funnel. It passes through various sales stages.

Sales funnel captures prospective customer’s acquisition point from the marketing up to the point where the sale is actually done.

TYPICAL SALES FUNNEL  Consider

well-planned purchase model  Narrow down your choices  Buy the selected product  Consider post-purchase effects

Smarketing

This is a marketing term which is used for a software development concept. It is a reflection of the growing influence of agile and lean methodology in DevOps. This includes sales and marketing. Previously, these departments were troubled by conflicts within the organisation.

Both departments blame each other for any failure.

As a result of this, both departments where information is hidden or have limited access have a negative impact on the overall business. Smarketing and agile methodology offer an infinite number of solutions to particular questions.

CONVERSION FUNNEL It is a modern purchasing funnel in the internet world. It concentrates only on eCommerce and lead generation. This term used in reference to conversion rate optimisation and Shopify.

Its purpose is to prepare the customer to purchase through a constant stream of content with micro conversions.

If more accurate information is gained from the potential customer, it becomes easier to target with onsite retargeting.

This can be achieved by describing personas, developing more content and create customised messages for the visitors. The aim is to convert every customer into a purchase and better the website conversion rate.

Thus, sales can be increased by providing customers with what they are looking for.

An optimised funnel is necessary for a successful advertising campaign and thus, can be accomplished by PPC campaign.

Below are the steps to optimise the funnel  Dig

into the data to determine the types of customers and create personas  Take a survey of the customers and define buyer motivation and emotions  Write content for each persona and leverage the motivation and emotions of the buyers  Create an attractive micro-conversions to persuade prospective customers to buy your product.  Write messages for real-time based on your interaction with your website.  Carry out Split test several variations of your messages to optimise conversion rate for each message.  Carry out upsell or cross-sell or down-sell to make most of the each and every client.  Organise loyalty programs to keep the customers coming back with great incentives.

The above-mentioned stages are necessary for the optimisation of conversion rate and optimisation of targeting the steps of purchase funnel.

Reference:

https://www.sooperarticles.com/business-articles/marketing-

articles/what-difference-between-sales-funnel-conversion-funnel-marketingfunnel-1784033.html