Most conversion funnels are simple – eCommerce funnels often involve only one: Land on the site > shop for a product > add it to cart > checkout > order confirmed!
However, some businesses rely on far more complicated conversion paths, and may leverage multiple conversion funnels, thus we use the term Multi-funnel Conversions to describe this. Conversion funnels often lead to intermediate “success events”, and it’s not uncommon for marketers to optimize towards these immediate “success events” – especially when the conversion process is complex, lengthy and true value only gets realized after the user makes their way through subsequent conversion funnels. For example, marketers may optimize towards driving users to subscribe to a service/create an account, but not necessarily use the service or perform some revenue-generating task. This is when it’s important for platforms to support the concept of “multi-step conversion funnels”
Analyzing the behavior across multi-funnel conversions allow marketers to define multiple “success events” and effectively stitch together conversion funnels. By doing so, marketers maintain a view of their short-term conversion performance (which media is driving the most account signups) but are also able to determine which media investments introduce customers who provide true value in the final conversion of a multi-step conversion funnel process (which media is driving the account signups that eventually perform some revenue generating activity later on).
