The conversion funnel is the answer when you need a clear path to turn prospects into loyal clients. Treat the funnel as your high-level map of the user journey: where visitors arrive, waver, or finally sign the deal. That clarity lets you channel budgets to spots that matter, trim wasted ad spend, and lift close rates across sales funnel stages.
Here at Nexalab, we’ve spent years working hands-on, shaping different conversion funnel strategies specifically for how business gets done here in Australia. Our work gives us a front-row seat to what works. And in this article, we gonna share practical steps for building, checking, and tuning this vital tool for solid growth.
What is a Conversion Funnel?
A conversion funnel is a simple model that shows how prospects move from first awareness of a problem to a paid solution and ongoing loyalty.
Picture an inverted pyramid: wide at the top (TOFU) to catch attention, narrower in the middle (MOFU) as evaluation starts, and tight at the bottom (BOFU) where decisions happen.
Tracking conversion funnel metrics at each layer reveals leaks and guides sales optimisation. In B2B, the funnel also accounts for longer evaluation windows, committee sign-offs, and a higher requirement for proof.
Key Stages of a Conversion Funnel
While names can differ slightly, a standard B2B conversion funnel usually breaks down into several key conversion stages.
We often group these into Top of the Funnel (TOFU), Middle of the Funnel (MOFU), and Bottom of the Funnel (BOFU).
Knowing what you want to achieve, what customers are typically doing, and which conversion funnel metrics to watch at each stage is vital for managing things well.
Awareness (TOFU)
- Goal: spark interest in a pain point.
- Typical actions: Google searches, social scrolls, event visits.
- Metrics: new-visitor traffic, impression share, first-touch leads.
Interest (MOFU)
- Goal: position your brand as credible.
- Actions: webinar sign-ups, white-paper downloads, newsletter opt-ins.
- Metrics: lead quality, engagement time, MQL count.
Consideration (late MOFU / early BOFU)
- Goal: prove fit and value.
- Actions: demo requests, pricing page visits, internal debates among stakeholders.
- Metrics: MQL-to-SQL rate, trial starts, proposal requests.
Conversion (BOFU)
- Goal: seal the deal.
- Actions: contract negotiation, onboarding call.
- Metrics: close rate, average contract value, sales cycle length.
Post-purchase loyalty
- Goal: keep and grow the account.
- Actions: product adoption, upsell conversations, referrals.
- Metrics: churn rate, CLV, NPS, expansion revenue.
How to Build a Conversion Funnel?
Creating a funnel that converts starts by grounding every step in data, not guesswork. Let’s break down the essential steps for constructing a conversion funnel that performs in our market.
Define Your Customer Personas and Journey
The bedrock of any good conversion funnel is knowing your audience inside out. You can’t guide people effectively if you don’t know who they are, what makes them tick, and what problems keep them up at night.
For B2B, this means crafting detailed customer personas. Let’ say like job roles, goals, pain points, and decision-making triggers.
Then, map their user journey. Where do they first encounter your brand? What questions do they ask at each stage? In a multiple-stakeholder and approvals scene, this map is your guide to every touchpoint and obstacle.
Choose the Right Marketing Channels at Each Stage
Now, you need to pick the best marketing channels to connect with them at each conversion funnel stage. For Australian B2B audiences, you can use:
- Awareness (TOFU): Cast a wide net with SEO for problem-based keywords, LinkedIn posts, or webinars.
- Interest/Consideration (MOFU): Nurture with email campaigns, retargeting ads, a dedicated landing page, webinars, or gated whitepapers. Google’s Demand Gen campaigns can also shine here.
- Conversion (BOFU): Seal the deal with high-intent search ads, like those driving to a specific sales funnel landing page. Then send several targeted emails with clear offers. Complete it with direct sales chats, and obvious calls-to-action for demos or quotes are key. But please do not spammy here.
Use Data to Map Drop-Off Points and Opportunities
You need data to see what’s working and what’s not. Because even the best funnels leak. Conversion funnel analysis turns these into opportunities. Tools like Google Analytics reveal where prospects bail.
Maybe your pricing page scares them. Are people abandoning your landing page? Maybe the forms are too long. Low demo requests? Your CTA might need tweaking.
However, don’t just see them as problems. Treat these leaks as clues for conversion funnel optimization.
Align Content and Messaging to Buyer Intent
A smooth conversion funnel delivers the right message, via the right content, at just the right moment. This means mapping your content to what the buyer is likely thinking or needing at each stage. So, kindly recheck your content:
- TOFU: Educate with blogs or infographics that highlight problems. Keep it light, no hard sell.
- MOFU: Build trust with case studies or webinars that show your value.
- BOFU: Make decisions easy with demos, testimonials, or clear pricing.
Match your messaging, too. This alignment keeps prospects engaged and moving forward. For example:
- “Learn More” for awareness
- “Download Now” for interest
- “Book a Demo” for conversion.
Conversion Funnel Optimization Tips
Ongoing sales funnel optimisation is one of the best strategies to help you get more out of it and adapt as things change. How do you optimise? It’s about finding the friction points and testing ways to smooth them out. Here are a few practical tips:
- Test Everything: A/B test headlines, CTAs, or form lengths to see what lifts results.
- Sharpen Landing Pages: Make every sales funnel landing page fast, mobile-friendly, and focused on one clear goal.
- Cut Friction: Simplify forms, streamline navigation, and remove surprises like hidden costs.
- Nurture Leads: Use automation to send timely, relevant content that keeps prospects engaged.
- Show Social Proof: Add testimonials or client logos to build trust, especially at the consideration and conversion stages.
- Use Octobits: Optimisation is all about data. This is why you can use Octobits as your data analysis dashboard. Working with a number of clients, we see results improve by focusing on data-backed tweaks like refining landing pages and setting up smart lead nurturing.
Your Next Step
Owning your conversion funnel means owning your revenue future. You’ve now got the framework. But translating strategy into day-to-day wins, especially across long, multi-stakeholder Australian deals, can be heavy lifting.
That’s why we offer Octobits. Our analysts live and breathe sales funnel optimisation, from TOFU content planning to BOFU deal-closing workflows. And Octobits is free until the end of 2025. So, why not book a free discussion session with our funnel strategist?
