Describe what a Conversion Funnel is.

Go to a website you have purchase something from or would purchase something from and "purchase" a product (you do not have to buy something but go through all the steps up to hitting the confirm purchase button.) - Create a conversion Funnel for the site (I do not expect you to have numbers associated with this - it is purely a navigational exercise) - Use the Viewed Home page as the first step.

Answer these questions:

1. How many steps to include between the Home Page destination and the Product Added to Cart destination.
2. How many steps to include between the Product Added to Cart destination and the Thank You destination.
3. How can you use the same conversion funnel when not everyone will use the standard path?

Review the following conversion funnel from a month of traffic on Marriott.com

Answer these questions:

1. What is the conversion rate?

2. Calculate each micro conversion rate (the conversion rate from one step to the next).

3. What is the average number of nights per booking?

4. What is the average revenue per booking?

5. What is the average revenue per night?

6. If you could increase traffic by 10% how much would revenue increase (assuming the new traffic was as the same character as the current traffic, e.g. same conversion rate, same average nights per booking, etc.)?

7. If you could increase the percentage of those who reviewed the itinerary from 15.65% to 20%, how would the conversion rate be affected? How would the revenue be affected?

Finally , Answer why conversion funnels are important.

Funnel of One Month of Traffic on Marriott.com Rates & Availability 3,099,890 Review Itinerary 470,495 Guest Info 159,160 Confirmation 98,657 Revenue = $24,525,220 Room Nights = 143,285 Funnel of One Month of Traffic on Marriott.com Rates & Availability 3,099,890 Review Itinerary 470,495 Guest Info 159,160 Confirmation 98,657 Revenue = $24,525,220 Room Nights = 143,285