Stages of the Customer Acquisition Funnel
The customer acquisition funnel is wide at the top. Think of casting a large net to capture as much attention and interest as possible. And it narrows as lower-quality leads peel away and the brand guides remaining prospects toward a sale.
- Awareness: New prospects and audiences are exposed to the brand for the first time by way of brand marketing efforts and/or independent research.
- Interest: The brand distinguishes itself or its products by educating consumers and/or appealing to their emotions with a clever or resonant message.
- Consideration: Once prospects visit the brand website, download content, register for a free trial, etc., they become more familiar (and hopefully more comfortable) with the brand and its products.
- Intent: Prospects make their way further down the funnel and move closer to a purchase decision by watching product demos, adding items to their shopping cart, etc.
- Evaluation: As the brand engages them further in response to their recent activity, prospects start to seriously consider the costs/benefits of completing the transaction, opting for a similar brand/product or simply doing nothing.
- Purchase: Prospects become customers when they complete a transaction. Beyond the sale, companies can look for opportunities to cross-sell, up-sell, and reward customer loyalty.