What is a sales funnel?
The stages a prospect goes through before becoming a customer.
A sales funnel is a model that illustrates the journey prospects take from initial awareness to final purchase. It typically includes stages such as awareness, interest, consideration, and decision, helping sales teams understand and manage the conversion process.
A sales funnel is a conceptual model that represents the stages prospects go through from initial awareness of a product or service to becoming paying customers. The funnel metaphor illustrates how the number of prospects narrows at each stage of the sales process. The typical stages of a sales funnel include awareness (where potential customers first learn about the product), interest (where they show interest and seek more information), consideration (where they evaluate the product against competitors), and decision (where they make the purchase). Understanding the sales funnel helps sales teams identify where prospects are in their buying journey, tailor their interactions accordingly, and implement strategies to move them towards conversion. Effective management of the sales funnel is crucial for optimizing the sales process, improving conversion rates, and forecasting future sales.