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Conversion funnels as sales and marketing instruments

Author

Listed:
  • Olena Galushko
  • Yevheniia Kovalenko-Marchenkova
  • Murtaz Kvirkvaia

Abstract

The article deals with the topical issues of attracting consumers through conversion Abstract. The article deals with the topical issues of attracting consumers through conversion funnels. Funnels are modern tools that are widely used in marketing and sales and allow us to track and analyze the steps that customers take on the way to a purchase. With the help of funnels, we can determine at which stage customers most often abandon a purchase and develop a strategy to increase the conversion. Funnels allow to identify weak points in the sales process and improve it, which leads to an increase of the company’s profit. The article discusses the stages of the conversion funnel and its features in marketing and sales. Special attention is paid to the functioning of conversion funnels in e-commerce. The article also discusses methods of improving the conversion funnels, such as: modern information technologies, optimization of forms, personalization of communication with the consumers, and others. The behavior of the consumer at different stages of the conversion funnel was analyzed, as well as the factors that could reduce the effectiveness of the funnel. Recommendations are offered to improve the efficiency of using the conversion funnels in marketing and sales

Suggested Citation

  • Olena Galushko & Yevheniia Kovalenko-Marchenkova & Murtaz Kvirkvaia, 2023. "Conversion funnels as sales and marketing instruments," Philosophy, Economics and Law Review Articles, Philosophy, Economics and Law Review, vol. 3(1), pages 145-151, May.
    • Handle: RePEc:cxt:phelrj:v:3:y:2023:i:1:p:145-151
    DOI: https://doi.org/10.31733/2786-491X-2023-1-145-151
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