What is a Lead Conversion Funnel?
To understand what a lead conversion funnel is, you should know what a regular ol’ funnel is. According to “The Google”… So for our purposes, a Lead Conversion Funnel at the most basic level is a visualization of how prospects or leads interact with your company from an unknown website visitor to a new, first-time customer. The only difference with a Lead Conversion Funnel and your run of the mill kitchen funnel is that 100% of the contents poured in do not come out as customers. This is where the conversion portion comes into play. There are imaginary holes in your funnel where leads leak out for various reasons, including disqualification, lack of interest, unsubscribes etc. In order to predict this loss with a reasonable amount of certainty, you use conversion rates to calculate the various lead stages. Each company’s conversion rates will vary but typically are fairly consistent from industry to industry.